Insider Selling: Datadog, Inc. (NASDAQ:DDOG) CRO Sells $1,304,752.28 in Stock

Datadog, Inc. (NASDAQ:DDOG) CRO Sean Michael Walters sold 11,167 shares of the company’s stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $116.84, for a total value of $1,304,752.28. Following the completion of the transaction, the executive now directly owns 235,431 shares in the company, valued at approximately $27,507,758.04. This trade represents a 4.53% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Sean Michael Walters also recently made the following trade(s):

• On Tuesday, March 11th, Sean Michael Walters sold 8,454 shares of Datadog stock. The shares were sold at an average price of $102.04, for a total value of $862,646.16.

Datadog Price Performance

DDOG opened at $122.16 on Friday. The business has a 50 day simple moving average of $105.14 and a 200-day simple moving average of $124.53. The stock has a market capitalization of $42.19 billion, a P/E ratio of 239.53, a P/E/G ratio of 44.03 and a beta of 1.12. Datadog, Inc. has a 12 month low of $81.63 and a 12 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 (EPS) for the quarter, topping the consensus estimate of $0.42 by $0.04. The firm had revenue of $761.55 million during the quarter, compared to analysts’ expectations of $741.73 million. Datadog had a return on equity of 8.28% and a net margin of 6.85%. Datadog’s revenue was up 24.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.44 earnings per share. Research analysts anticipate that Datadog, Inc. will post 0.34 EPS for the current year.

Hedge Funds Weigh In On Datadog

Several hedge funds have recently bought and sold shares of DDOG. Goldman Sachs Group Inc. increased its position in Datadog by 259.7% during the first quarter. Goldman Sachs Group Inc. now owns 8,658,340 shares of the company’s stock worth $858,994,000 after buying an additional 6,250,942 shares in the last quarter. Groupama Asset Managment lifted its stake in shares of Datadog by 407.6% during the fourth quarter. Groupama Asset Managment now owns 6,600,000 shares of the company’s stock worth $943,074,000 after purchasing an additional 5,299,688 shares in the last quarter. Janus Henderson Group PLC lifted its stake in shares of Datadog by 17,477.2% during the fourth quarter. Janus Henderson Group PLC now owns 4,016,558 shares of the company’s stock worth $573,923,000 after purchasing an additional 3,993,707 shares in the last quarter. Norges Bank acquired a new position in shares of Datadog during the fourth quarter worth about $462,910,000. Finally, Brown Advisory Inc. lifted its stake in shares of Datadog by 2,804.2% in the fourth quarter. Brown Advisory Inc. now owns 2,749,174 shares of the company’s stock worth $392,830,000 after acquiring an additional 2,654,512 shares in the last quarter. Hedge funds and other institutional investors own 78.29% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on DDOG shares. Citigroup cut their price objective on Datadog from $170.00 to $165.00 and set a “buy” rating on the stock in a report on Friday, February 14th. Morgan Stanley cut their price target on Datadog from $143.00 to $115.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 16th. Needham & Company LLC dropped their price objective on Datadog from $160.00 to $130.00 and set a “buy” rating on the stock in a report on Wednesday, May 7th. Canaccord Genuity Group dropped their price objective on Datadog from $150.00 to $145.00 and set a “buy” rating on the stock in a report on Wednesday, May 7th. Finally, JMP Securities reissued a “market perform” rating on shares of Datadog in a research report on Friday, February 14th. Seven analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $141.04.

Datadog Company Profile

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.