Datadog, Inc. (NASDAQ:DDOG) CTO Sells $15,247,515.80 in Stock

Datadog, Inc. (NASDAQ:DDOG) CTO Alexis Le-Quoc sold 127,105 shares of Datadog stock in a transaction that occurred on Wednesday, June 4th. The shares were sold at an average price of $119.96, for a total transaction of $15,247,515.80. Following the transaction, the chief technology officer now directly owns 452,769 shares in the company, valued at $54,314,169.24. This represents a 21.92% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Alexis Le-Quoc also recently made the following trade(s):

• On Monday, June 2nd, Alexis Le-Quoc sold 13,766 shares of Datadog stock. The stock was sold at an average price of $116.84, for a total transaction of $1,608,419.44.
• On Wednesday, May 7th, Alexis Le-Quoc sold 127,105 shares of Datadog stock. The shares were sold at an average price of $105.83, for a total transaction of $13,451,522.15.
• On Wednesday, March 12th, Alexis Le-Quoc sold 127,105 shares of Datadog stock. The stock was sold at an average price of $102.15, for a total transaction of $12,983,775.75.

Datadog Stock Up 0.3%

Datadog stock opened at $122.16 on Friday. The company’s 50-day moving average price is $105.14 and its 200-day moving average price is $124.53. The company has a market cap of $42.19 billion, a PE ratio of 239.53, a price-to-earnings-growth ratio of 44.03 and a beta of 1.12. Datadog, Inc. has a twelve month low of $81.63 and a twelve month high of $170.08.

Datadog (NASDAQ:DDOG) last issued its quarterly earnings data on Tuesday, May 6th. The company reported $0.46 earnings per share for the quarter, topping the consensus estimate of $0.42 by $0.04. Datadog had a return on equity of 8.28% and a net margin of 6.85%. The company had revenue of $761.55 million for the quarter, compared to analysts’ expectations of $741.73 million. During the same period in the previous year, the firm posted $0.44 earnings per share. The firm’s revenue for the quarter was up 24.6% on a year-over-year basis. As a group, sell-side analysts expect that Datadog, Inc. will post 0.34 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Datadog

Several large investors have recently modified their holdings of the stock. OVERSEA CHINESE BANKING Corp Ltd boosted its stake in Datadog by 887.0% during the first quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 25,199 shares of the company’s stock worth $25,000 after buying an additional 22,646 shares during the period. Cornerstone Planning Group LLC lifted its holdings in shares of Datadog by 96.9% in the 1st quarter. Cornerstone Planning Group LLC now owns 313 shares of the company’s stock worth $30,000 after acquiring an additional 154 shares during the last quarter. Costello Asset Management INC purchased a new position in shares of Datadog during the 1st quarter worth about $30,000. Putney Financial Group LLC bought a new position in Datadog during the 4th quarter valued at about $32,000. Finally, Elequin Capital LP bought a new position in Datadog during the 4th quarter valued at about $34,000. Institutional investors own 78.29% of the company’s stock.

Wall Street Analyst Weigh In

DDOG has been the topic of a number of recent analyst reports. Stifel Nicolaus set a $120.00 price target on Datadog in a report on Tuesday, May 6th. Cantor Fitzgerald reiterated an “overweight” rating and set a $134.00 target price on shares of Datadog in a research report on Wednesday, May 7th. Needham & Company LLC decreased their target price on Datadog from $160.00 to $130.00 and set a “buy” rating on the stock in a research note on Wednesday, May 7th. Barclays boosted their price target on Datadog from $125.00 to $128.00 and gave the stock an “overweight” rating in a report on Tuesday, May 6th. Finally, Truist Financial cut their price objective on shares of Datadog from $140.00 to $120.00 and set a “hold” rating for the company in a report on Monday, March 31st. Seven analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company. Based on data from MarketBeat, Datadog presently has a consensus rating of “Moderate Buy” and a consensus target price of $141.04.

About Datadog

Datadog, Inc operates an observability and security platform for cloud applications in North America and internationally. The company's products comprise infrastructure and application performance monitoring, log management, digital experience monitoring, continuous profiler, database monitoring, data streams and universal service monitoring, network monitoring, incident management, workflow automation, observability pipelines, cloud cost and cloud security management, application security management, cloud SIEM, sensitive data scanner, and CI visibility.