Datadog (NASDAQ:DDOG) Trading Down 3.5% After Insider Selling

Datadog, Inc. (NASDAQ:DDOG)’s share price traded down 3.5% during trading on Thursday after an insider sold shares in the company. The stock traded as low as $93.91 and last traded at $94.03. 1,315,365 shares traded hands during trading, a decline of 69% from the average session volume of 4,295,607 shares. The stock had previously closed at $97.44.

Specifically, CEO Olivier Pomel sold 107,365 shares of the company’s stock in a transaction that occurred on Monday, April 7th. The stock was sold at an average price of $87.33, for a total transaction of $9,376,185.45. Following the completion of the transaction, the chief executive officer now directly owns 563,598 shares of the company’s stock, valued at $49,219,013.34. This represents a 16.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. Royal Bank of Canada boosted their price target on shares of Datadog from $151.00 to $170.00 and gave the stock an “outperform” rating in a report on Friday, January 3rd. Loop Capital increased their target price on Datadog from $160.00 to $200.00 and gave the company a “buy” rating in a report on Monday, December 23rd. Stifel Nicolaus downgraded Datadog from a “buy” rating to a “hold” rating and decreased their target price for the company from $165.00 to $140.00 in a research report on Wednesday, January 29th. Jefferies Financial Group restated a “buy” rating and issued a $135.00 price objective (down previously from $150.00) on shares of Datadog in a report on Monday. Finally, Guggenheim reaffirmed a “neutral” rating on shares of Datadog in a report on Wednesday, January 22nd. One analyst has rated the stock with a sell rating, seven have given a hold rating, twenty-one have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, Datadog currently has a consensus rating of “Moderate Buy” and a consensus target price of $156.67.

Datadog Trading Down 1.2 %

The firm’s fifty day moving average is $112.08 and its 200-day moving average is $129.08. The stock has a market capitalization of $31.54 billion, a PE ratio of 180.43, a price-to-earnings-growth ratio of 44.03 and a beta of 1.20.

Datadog (NASDAQ:DDOG) last released its quarterly earnings results on Thursday, February 13th. The company reported $0.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.31). Datadog had a net margin of 6.85% and a return on equity of 8.28%. As a group, equities analysts predict that Datadog, Inc. will post 0.34 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. raised its holdings in shares of Datadog by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 30,354,229 shares of the company’s stock valued at $4,337,316,000 after buying an additional 220,527 shares during the period. Baillie Gifford & Co. increased its stake in Datadog by 15.8% during the fourth quarter. Baillie Gifford & Co. now owns 10,905,133 shares of the company’s stock worth $1,558,234,000 after purchasing an additional 1,484,562 shares during the period. Jennison Associates LLC lifted its position in shares of Datadog by 47.9% during the fourth quarter. Jennison Associates LLC now owns 9,278,648 shares of the company’s stock worth $1,325,826,000 after purchasing an additional 3,005,300 shares in the last quarter. Groupama Asset Managment boosted its stake in shares of Datadog by 407.6% in the fourth quarter. Groupama Asset Managment now owns 6,600,000 shares of the company’s stock valued at $943,074,000 after purchasing an additional 5,299,688 shares during the period. Finally, Geode Capital Management LLC grew its holdings in shares of Datadog by 9.6% in the fourth quarter. Geode Capital Management LLC now owns 5,684,612 shares of the company’s stock valued at $811,076,000 after purchasing an additional 499,055 shares in the last quarter. 78.29% of the stock is currently owned by hedge funds and other 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.