Datadog (NASDAQ:DDOG) Shares Gap Up to $122.07

Datadog, Inc. (NASDAQ:DDOG)’s stock price gapped up before the market opened on Tuesday . The stock had previously closed at $122.07, but opened at $125.50. Datadog shares last traded at $127.21, with a volume of 928,023 shares traded.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Citigroup boosted their price objective on shares of Datadog from $125.00 to $150.00 and gave the stock a “buy” rating in a research report on Monday, January 22nd. Royal Bank of Canada boosted their price objective on shares of Datadog from $145.00 to $151.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 14th. Needham & Company LLC boosted their price objective on shares of Datadog from $125.00 to $165.00 and gave the stock a “buy” rating in a research report on Tuesday, February 13th. Barclays boosted their price objective on shares of Datadog from $138.00 to $152.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 14th. Finally, Canaccord Genuity Group reiterated a “buy” rating and issued a $150.00 price objective on shares of Datadog in a research report on Friday, February 23rd. Five analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $131.70.

Datadog Price Performance

The company’s fifty day moving average is $125.35 and its 200 day moving average is $116.67. The company has a quick ratio of 3.17, a current ratio of 3.17 and a debt-to-equity ratio of 0.37. The stock has a market cap of $42.17 billion, a PE ratio of 1,058.92 and a beta of 1.15.

Datadog (NASDAQ:DDOG) last posted its quarterly earnings results on Tuesday, February 13th. The company reported $0.44 EPS for the quarter, beating the consensus estimate of $0.43 by $0.01. Datadog had a net margin of 2.28% and a return on equity of 3.79%. The firm had revenue of $589.65 million for the quarter, compared to analyst estimates of $568.73 million. During the same quarter last year, the firm posted ($0.08) earnings per share. Datadog’s revenue for the quarter was up 25.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that Datadog, Inc. will post -0.14 earnings per share for the current fiscal year.

Insider Activity at Datadog

In related news, CRO Sean Michael Walters sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, April 11th. The shares were sold at an average price of $129.86, for a total value of $1,298,600.00. Following the transaction, the executive now owns 162,706 shares in the company, valued at $21,129,001.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, CRO Sean Michael Walters sold 10,000 shares of Datadog stock in a transaction that occurred on Thursday, April 11th. The shares were sold at an average price of $129.86, for a total transaction of $1,298,600.00. Following the sale, the executive now owns 162,706 shares in the company, valued at $21,129,001.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO David M. Obstler sold 70,000 shares of Datadog stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $120.73, for a total transaction of $8,451,100.00. Following the sale, the chief financial officer now owns 275,191 shares in the company, valued at approximately $33,223,809.43. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 735,984 shares of company stock worth $94,617,681. Company insiders own 14.97% of the company’s stock.

Institutional Trading of Datadog

A number of hedge funds have recently made changes to their positions in the stock. Parsons Capital Management Inc. RI grew its position in shares of Datadog by 1.8% during the first quarter. Parsons Capital Management Inc. RI now owns 4,890 shares of the company’s stock worth $604,000 after buying an additional 88 shares in the last quarter. Panagora Asset Management Inc. grew its position in shares of Datadog by 1.0% during the fourth quarter. Panagora Asset Management Inc. now owns 9,026 shares of the company’s stock worth $1,096,000 after buying an additional 89 shares in the last quarter. Benjamin F. Edwards & Company Inc. grew its position in shares of Datadog by 17.9% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 639 shares of the company’s stock worth $78,000 after buying an additional 97 shares in the last quarter. AM Squared Ltd boosted its holdings in Datadog by 25.0% in the fourth quarter. AM Squared Ltd now owns 500 shares of the company’s stock worth $61,000 after purchasing an additional 100 shares during the period. Finally, Yousif Capital Management LLC boosted its holdings in Datadog by 3.2% in the fourth quarter. Yousif Capital Management LLC now owns 3,183 shares of the company’s stock worth $386,000 after purchasing an additional 100 shares during the period. Institutional investors and hedge funds own 78.29% of the company’s stock.

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.