Datadog (NASDAQ:DDOG) Trading Down 5.2%

Shares of Datadog, Inc. (NASDAQ:DDOG) were down 5.2% during mid-day trading on Tuesday . The company traded as low as $125.35 and last traded at $125.53. Approximately 2,989,005 shares were traded during mid-day trading, a decline of 27% from the average daily volume of 4,096,095 shares. The stock had previously closed at $132.40.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on DDOG shares. Stifel Nicolaus restated a “buy” rating and issued a $152.00 price objective on shares of Datadog in a research note on Monday, April 22nd. Barclays dropped their price objective on shares of Datadog from $152.00 to $145.00 and set an “overweight” rating for the company in a research note on Wednesday, May 8th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $150.00 target price on shares of Datadog in a report on Wednesday, April 17th. Needham & Company LLC reaffirmed a “buy” rating and issued a $165.00 target price on shares of Datadog in a report on Thursday, June 27th. Finally, Bank of America raised shares of Datadog from a “neutral” rating to a “buy” rating and upped their target price for the stock from $143.00 to $155.00 in a report on Thursday, May 30th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, twenty-six have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $136.89.

Datadog Trading Up 0.7 %

The company has a debt-to-equity ratio of 0.34, a quick ratio of 3.43 and a current ratio of 3.43. The company has a 50 day moving average of $120.48 and a two-hundred day moving average of $123.70. The stock has a market capitalization of $42.54 billion, a PE ratio of 397.47, a P/E/G ratio of 43.59 and a beta of 1.11.

Datadog (NASDAQ:DDOG) last released its quarterly earnings results on Tuesday, May 7th. The company reported $0.16 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.20. Datadog had a return on equity of 7.48% and a net margin of 5.11%. The company had revenue of $611.25 million during the quarter, compared to analysts’ expectations of $589.97 million. Sell-side analysts predict that Datadog, Inc. will post 0.32 EPS for the current year.

Insiders Place Their Bets

In other Datadog news, CEO Olivier Pomel sold 200,993 shares of the firm’s stock in a transaction on Monday, July 8th. The stock was sold at an average price of $131.01, for a total value of $26,332,092.93. Following the sale, the chief executive officer now directly owns 324,539 shares in the company, valued at $42,517,854.39. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, CTO Alexis Le-Quoc sold 127,105 shares of Datadog stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $130.75, for a total transaction of $16,618,978.75. Following the completion of the sale, the chief technology officer now directly owns 279,025 shares in the company, valued at approximately $36,482,518.75. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Olivier Pomel sold 200,993 shares of the business’s stock in a transaction dated Monday, July 8th. The shares were sold at an average price of $131.01, for a total transaction of $26,332,092.93. Following the completion of the transaction, the chief executive officer now directly owns 324,539 shares of the company’s stock, valued at approximately $42,517,854.39. The disclosure for this sale can be found here. Insiders have sold 881,530 shares of company stock worth $106,911,095 over the last ninety days. Corporate insiders own 11.78% of the company’s stock.

Institutional Trading of Datadog

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Riverview Trust Co purchased a new position in Datadog in the 1st quarter valued at about $26,000. Anchor Investment Management LLC bought a new position in shares of Datadog in the fourth quarter valued at approximately $25,000. Raleigh Capital Management Inc. bought a new position in shares of Datadog in the fourth quarter valued at approximately $29,000. Private Trust Co. NA boosted its holdings in Datadog by 743.3% during the fourth quarter. Private Trust Co. NA now owns 253 shares of the company’s stock worth $31,000 after buying an additional 223 shares in the last quarter. Finally, Jones Financial Companies Lllp bought a new stake in Datadog during the fourth quarter worth approximately $33,000. 78.29% of the stock is currently owned by institutional investors and hedge funds.

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.