Datadog, Inc. (NASDAQ:DDOG) Director Amit Agarwal Sells 25,000 Shares

Datadog, Inc. (NASDAQ:DDOG) Director Amit Agarwal sold 25,000 shares of the stock in a transaction on Wednesday, June 11th. The shares were sold at an average price of $119.46, for a total value of $2,986,500.00. Following the sale, the director now directly owns 54,356 shares in the company, valued at $6,493,367.76. This trade represents a 31.50% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Amit Agarwal also recently made the following trade(s):

• On Wednesday, May 28th, Amit Agarwal sold 25,000 shares of Datadog stock. The shares were sold at an average price of $117.02, for a total value of $2,925,500.00.
• On Wednesday, May 14th, Amit Agarwal sold 25,000 shares of Datadog stock. The shares were sold at an average price of $118.67, for a total value of $2,966,750.00.

Datadog Price Performance

NASDAQ DDOG opened at $120.45 on Friday. The stock has a market capitalization of $41.60 billion, a PE ratio of 236.18, a P/E/G ratio of 44.03 and a beta of 1.01. The business has a 50 day simple moving average of $108.01 and a two-hundred day simple moving average of $123.55. Datadog, Inc. has a 1-year low of $81.63 and a 1-year high of $170.08.

Datadog (NASDAQ:DDOG) last announced its earnings results on Tuesday, May 6th. The company reported $0.46 EPS for the quarter, topping analysts’ consensus estimates 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%. The company’s quarterly revenue was up 24.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.44 EPS. On average, analysts anticipate that Datadog, Inc. will post 0.34 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. UBS Group increased their target price on Datadog from $125.00 to $140.00 and gave the company a “buy” rating in a report on Wednesday. Scotiabank set a $130.00 target price on Datadog and gave the company an “outperform” rating in a report on Wednesday, May 7th. Stifel Nicolaus set a $120.00 target price on Datadog in a report on Tuesday, May 6th. Canaccord Genuity Group lowered their target price on Datadog from $150.00 to $145.00 and set a “buy” rating on the stock in a report on Wednesday, May 7th. Finally, Wells Fargo & Company decreased their price objective on Datadog from $140.00 to $115.00 and set an “equal weight” rating on the stock in a research note on Wednesday, May 7th. Six analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $142.25.

Institutional Investors Weigh In On Datadog

A number of institutional investors and hedge funds have recently modified their holdings of the business. Inspire Investing LLC lifted its stake in shares of Datadog by 70.4% during the 1st quarter. Inspire Investing LLC now owns 3,078 shares of the company’s stock worth $305,000 after acquiring an additional 1,272 shares during the last quarter. DLD Asset Management LP bought a new stake in shares of Datadog during the 1st quarter worth approximately $1,379,000. Siren L.L.C. lifted its stake in shares of Datadog by 55.9% during the 1st quarter. Siren L.L.C. now owns 47,425 shares of the company’s stock worth $4,705,000 after acquiring an additional 17,000 shares during the last quarter. Geneos Wealth Management Inc. raised its position in Datadog by 17.6% during the 1st quarter. Geneos Wealth Management Inc. now owns 769 shares of the company’s stock valued at $76,000 after purchasing an additional 115 shares in the last quarter. Finally, IFM Investors Pty Ltd raised its position in Datadog by 2.8% during the 1st quarter. IFM Investors Pty Ltd now owns 50,669 shares of the company’s stock valued at $5,027,000 after purchasing an additional 1,387 shares in the last quarter. 78.29% of the stock is owned by institutional investors.

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.