Insider Selling: Datadog, Inc. (NASDAQ:DDOG) CFO Sells $4,189,958.10 in Stock

Datadog, Inc. (NASDAQ:DDOG) CFO David M. Obstler sold 33,333 shares of Datadog stock in a transaction on Tuesday, October 8th. The stock was sold at an average price of $125.70, for a total transaction of $4,189,958.10. Following the sale, the chief financial officer now owns 314,158 shares of the company’s stock, valued at $39,489,660.60. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Datadog Stock Down 0.2 %

DDOG stock opened at $129.81 on Friday. The stock has a market capitalization of $43.77 billion, a P/E ratio of 288.47, a P/E/G ratio of 22.85 and a beta of 1.11. The firm has a 50-day simple moving average of $114.75 and a 200-day simple moving average of $119.29. Datadog, Inc. has a 52 week low of $77.81 and a 52 week high of $138.61.

Datadog (NASDAQ:DDOG) last released its earnings results on Thursday, August 8th. The company reported $0.43 EPS for the quarter, topping analysts’ consensus estimates of $0.37 by $0.06. The business had revenue of $645.28 million during the quarter, compared to analysts’ expectations of $624.92 million. Datadog had a net margin of 6.81% and a return on equity of 9.01%. The company’s quarterly revenue was up 26.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.36 earnings per share. On average, analysts expect that Datadog, Inc. will post 0.42 earnings per share for the current year.

Institutional Trading of Datadog

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. increased its stake in shares of Datadog by 0.6% during the first quarter. Vanguard Group Inc. now owns 27,431,107 shares of the company’s stock worth $3,390,485,000 after purchasing an additional 171,693 shares in the last quarter. Massachusetts Financial Services Co. MA grew its stake in Datadog by 9.2% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 3,944,943 shares of the company’s stock valued at $511,620,000 after acquiring an additional 331,808 shares in the last quarter. 1832 Asset Management L.P. grew its stake in Datadog by 5.9% during the 2nd quarter. 1832 Asset Management L.P. now owns 2,486,600 shares of the company’s stock valued at $322,487,000 after acquiring an additional 138,700 shares in the last quarter. Allspring Global Investments Holdings LLC grew its stake in Datadog by 19.3% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 1,068,070 shares of the company’s stock valued at $138,518,000 after acquiring an additional 172,887 shares in the last quarter. Finally, Kodai Capital Management LP purchased a new stake in Datadog during the 1st quarter valued at about $116,054,000. Hedge funds and other institutional investors own 78.29% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on DDOG shares. Mizuho upgraded shares of Datadog from a “neutral” rating to an “outperform” rating and lifted their price objective for the stock from $135.00 to $155.00 in a research note on Tuesday, July 16th. Cantor Fitzgerald reiterated an “overweight” rating and set a $150.00 price objective on shares of Datadog in a research note on Monday, July 22nd. DA Davidson upgraded shares of Datadog from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $115.00 to $140.00 in a research note on Tuesday, October 1st. Loop Capital restated a “buy” rating and set a $160.00 target price on shares of Datadog in a research report on Friday, July 5th. Finally, Barclays decreased their target price on shares of Datadog from $145.00 to $140.00 and set an “overweight” rating for the company in a research report on Friday, August 9th. Four investment analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Datadog presently has a consensus rating of “Moderate Buy” and a consensus target price of $141.19.

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.