Datadog (NASDAQ:DDOG) Shares Down 7.9% – Time to Sell?

Datadog, Inc. (NASDAQ:DDOG) shares were down 7.9% during mid-day trading on Thursday . The stock traded as low as $93.53 and last traded at $93.63. Approximately 1,629,875 shares changed hands during trading, a decline of 61% from the average daily volume of 4,192,519 shares. The stock had previously closed at $101.71.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on DDOG. Loop Capital raised their target price on Datadog from $160.00 to $200.00 and gave the stock a “buy” rating in a research note on Monday, December 23rd. DA Davidson raised their price objective on Datadog from $150.00 to $165.00 and gave the company a “buy” rating in a report on Monday, February 10th. Cantor Fitzgerald initiated coverage on Datadog in a report on Friday, January 17th. They issued an “overweight” rating and a $180.00 price objective on the stock. Jefferies Financial Group dropped their target price on shares of Datadog from $170.00 to $150.00 and set a “buy” rating for the company in a report on Monday. Finally, Wells Fargo & Company downgraded Datadog from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $152.00 to $140.00 in a research report on Thursday, February 13th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, twenty-one have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $157.22.

Datadog Stock Down 7.1 %

The firm’s fifty day moving average price is $121.49 and its two-hundred day moving average price is $130.62. The stock has a market capitalization of $32.38 billion, a PE ratio of 185.24, a PEG ratio of 44.03 and a beta of 1.22.

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

Insider Activity

In other Datadog news, Director Shardul Shah sold 7,916 shares of the company’s stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $142.12, for a total value of $1,125,021.92. Following the sale, the director now directly owns 427,785 shares of the company’s stock, valued at approximately $60,796,804.20. This represents a 1.82 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Amit Agarwal sold 25,000 shares of the firm’s stock in a transaction that occurred on Wednesday, January 8th. The stock was sold at an average price of $141.12, for a total transaction of $3,528,000.00. Following the sale, the director now directly owns 195,667 shares in the company, valued at $27,612,527.04. The trade was a 11.33 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 601,412 shares of company stock worth $75,444,584. 11.78% of the stock is currently owned by corporate insiders.

Institutional Trading of Datadog

A number of hedge funds have recently bought and sold shares of the business. Townsquare Capital LLC raised its holdings in Datadog by 50.5% in the 3rd quarter. Townsquare Capital LLC now owns 2,871 shares of the company’s stock valued at $330,000 after buying an additional 963 shares during the period. Rockefeller Capital Management L.P. raised its stake in Datadog by 3.5% in the third quarter. Rockefeller Capital Management L.P. now owns 15,172 shares of the company’s stock valued at $1,746,000 after buying an additional 511 shares in the last quarter. Captrust Financial Advisors lifted its stake in Datadog by 16.5% during the third quarter. Captrust Financial Advisors now owns 9,513 shares of the company’s stock worth $1,095,000 after purchasing an additional 1,349 shares during the last quarter. Atom Investors LP purchased a new position in shares of Datadog in the 3rd quarter valued at $1,112,000. Finally, Benjamin Edwards Inc. increased its position in shares of Datadog by 78,000.0% during the third quarter. Benjamin Edwards Inc. now owns 2,343 shares of the company’s stock worth $270,000 after purchasing an additional 2,340 shares in the last quarter. Institutional investors and hedge funds own 78.29% of the company’s stock.

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.