Datadog (NASDAQ:DDOG) Stock Price Up 0.9% – Here’s What Happened

Datadog, Inc. (NASDAQ:DDOG) traded up 0.9% on Tuesday . The stock traded as high as $100.70 and last traded at $100.11. 1,472,704 shares changed hands during mid-day trading, a decline of 65% from the average session volume of 4,178,602 shares. The stock had previously closed at $99.21.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on DDOG shares. Stifel Nicolaus cut Datadog from a “buy” rating to a “hold” rating and reduced their target price for the company from $165.00 to $140.00 in a research note on Wednesday, January 29th. Barclays reduced their target price on shares of Datadog from $187.00 to $180.00 and set an “overweight” rating on the stock in a research report on Friday, February 14th. Cantor Fitzgerald started coverage on Datadog in a research note on Friday, January 17th. They set an “overweight” rating and a $180.00 price objective for the company. Needham & Company LLC reiterated a “buy” rating and set a $160.00 price target on shares of Datadog in a report on Tuesday, March 4th. Finally, DA Davidson boosted their price objective on shares of Datadog from $150.00 to $165.00 and gave the stock a “buy” rating in a report on Monday, February 10th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, twenty-one have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Datadog presently has a consensus rating of “Moderate Buy” and an average target price of $157.22.

Datadog Trading Up 1.4 %

The company has a market cap of $34.48 billion, a P/E ratio of 197.25, a P/E/G ratio of 44.03 and a beta of 1.22. The firm has a 50 day moving average of $123.01 and a 200-day moving average of $130.88.

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

Insider Activity

In related news, CTO Alexis Le-Quoc sold 127,105 shares of the firm’s stock in a transaction on Wednesday, January 8th. The shares were sold at an average price of $141.21, for a total value of $17,948,497.05. Following the completion of the transaction, the chief technology officer now directly owns 324,778 shares of the company’s stock, valued at approximately $45,861,901.38. This trade represents a 28.13 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Olivier Pomel sold 11,195 shares of the company’s stock in a transaction on Monday, January 27th. The shares were sold at an average price of $139.86, for a total transaction of $1,565,732.70. Following the sale, the chief executive officer now directly owns 379,693 shares in the company, valued at approximately $53,103,862.98. The trade was a 2.86 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 601,412 shares of company stock worth $75,444,584 over the last 90 days. Corporate insiders own 11.78% of the company’s stock.

Hedge Funds Weigh In On Datadog

A number of institutional investors and hedge funds have recently made changes to their positions in DDOG. Retirement Wealth Solutions LLC purchased a new position in shares of Datadog in the 4th quarter worth approximately $30,000. Putney Financial Group LLC purchased a new stake in Datadog in the 4th quarter valued at about $32,000. Avior Wealth Management LLC grew its stake in Datadog by 55.9% in the 4th quarter. Avior Wealth Management LLC now owns 226 shares of the company’s stock worth $32,000 after acquiring an additional 81 shares in the last quarter. Elequin Capital LP purchased a new position in shares of Datadog during the fourth quarter worth approximately $34,000. Finally, True Wealth Design LLC raised its stake in shares of Datadog by 12,000.0% during the third quarter. True Wealth Design LLC now owns 242 shares of the company’s stock valued at $28,000 after acquiring an additional 240 shares in the last quarter. 78.29% of the stock is 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.