Datadog, Inc. (NASDAQ:DDOG) Director Sells $1,000,110.80 in Stock

Datadog, Inc. (NASDAQ:DDOG) Director Matthew Jacobson sold 9,256 shares of the business’s stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $108.05, for a total value of $1,000,110.80. Following the completion of the sale, the director now owns 48,411 shares of the company’s stock, valued at $5,230,808.55. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

Datadog Trading Down 0.3 %

DDOG stock traded down $0.37 during trading on Friday, reaching $109.26. 3,141,293 shares of the stock were exchanged, compared to its average volume of 3,921,111. Datadog, Inc. has a twelve month low of $77.81 and a twelve month high of $138.61. The firm has a market cap of $36.55 billion, a P/E ratio of 341.44, a price-to-earnings-growth ratio of 27.84 and a beta of 1.11. The firm’s 50 day moving average is $116.62 and its 200 day moving average is $120.37.

Datadog (NASDAQ:DDOG) last issued its quarterly earnings data on Thursday, August 8th. The company reported $0.43 EPS for the quarter, topping analysts’ consensus estimates of $0.37 by $0.06. Datadog had a return on equity of 9.01% and a net margin of 6.81%. The firm had revenue of $645.28 million during the quarter, compared to analyst estimates of $624.92 million. During the same period in the previous year, the company posted $0.36 EPS. The company’s revenue for the quarter was up 26.7% on a year-over-year basis. As a group, analysts predict that Datadog, Inc. will post 0.41 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Datadog

Several institutional investors and hedge funds have recently added to or reduced their stakes in DDOG. Norges Bank purchased a new position in Datadog in the fourth quarter valued at about $384,986,000. Kodai Capital Management LP purchased a new position in Datadog in the first quarter valued at approximately $116,054,000. 1832 Asset Management L.P. grew its holdings in Datadog by 47.9% during the fourth quarter. 1832 Asset Management L.P. now owns 2,619,500 shares of the company’s stock valued at $317,955,000 after purchasing an additional 848,000 shares during the period. DNB Asset Management AS increased its position in Datadog by 1,974.5% in the second quarter. DNB Asset Management AS now owns 847,600 shares of the company’s stock worth $109,925,000 after buying an additional 806,741 shares during the last quarter. Finally, Thrivent Financial for Lutherans raised its stake in shares of Datadog by 1,597.9% in the second quarter. Thrivent Financial for Lutherans now owns 785,261 shares of the company’s stock valued at $101,841,000 after buying an additional 739,011 shares during the period. Hedge funds and other institutional investors own 78.29% of the company’s stock.

Wall Street Analysts Forecast Growth

DDOG has been the subject of a number of recent research reports. Royal Bank of Canada reissued an “outperform” rating and issued a $151.00 target price on shares of Datadog in a research report on Friday, August 9th. Needham & Company LLC decreased their target price on shares of Datadog from $165.00 to $140.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. Barclays dropped their price target 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. Bank of America raised Datadog from a “neutral” rating to a “buy” rating and increased their price target for the stock from $143.00 to $155.00 in a research report on Thursday, May 30th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $150.00 price objective on shares of Datadog in a research note on Monday, July 22nd. Four analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Datadog has an average rating of “Moderate Buy” and a consensus target price of $139.88.

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.