Datadog (NASDAQ:DDOG) Reaches New 12-Month Low on Insider Selling

Datadog, Inc. (NASDAQ:DDOG - Get Free Report)'s share price reached a new 52-week low on Thursday following insider selling activity. The company traded as low as $98.73 and last traded at $99.22, with a volume of 2794102 shares traded. The stock had previously closed at $102.03.

Specifically, CRO Sean Michael Walters sold 8,454 shares of Datadog stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $102.04, for a total value of $862,646.16. Following the completion of the sale, the executive now directly owns 185,871 shares in the company, valued at $18,966,276.84. The trade was a 4.35 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Olivier Pomel sold 107,365 shares of the stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $109.56, for a total transaction of $11,762,909.40. Following the transaction, the chief executive officer now owns 435,793 shares in the company, valued at approximately $47,745,481.08. The trade was a 19.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. Wolfe Research cut shares of Datadog from an "outperform" rating to a "peer perform" rating in a research report on Tuesday, February 18th. Needham & Company LLC reaffirmed a "buy" rating and set a $160.00 target price on shares of Datadog in a research report on Tuesday, March 4th. Stifel Nicolaus lowered Datadog from a "buy" rating to a "hold" rating and reduced their price target for the stock from $165.00 to $140.00 in a research report on Wednesday, January 29th. Cantor Fitzgerald initiated coverage on Datadog in a research report on Friday, January 17th. They set an "overweight" rating and a $180.00 price objective on the stock. Finally, Loop Capital lifted their price objective on shares of Datadog from $160.00 to $200.00 and gave the stock a "buy" rating in a research report on Monday, December 23rd. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, twenty-one have issued a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $158.70.

Remove Ads

Datadog Stock Performance

The company has a 50 day moving average of $130.81 and a 200 day moving average of $131.35. The stock has a market capitalization of $35.64 billion, a price-to-earnings ratio of 203.87, a P/E/G ratio of 44.03 and a beta of 1.22.

Datadog (NASDAQ:DDOG - Get Free Report) last issued its earnings results on Thursday, February 13th. The company reported $0.13 EPS for the quarter, missing analysts' consensus estimates of $0.44 by ($0.31). Datadog had a net margin of 6.85% and a return on equity of 8.28%. On average, equities analysts predict that Datadog, Inc. will post 0.34 EPS for the current fiscal year.

Hedge Funds Weigh In On Datadog

A number of institutional investors have recently added to or reduced their stakes in the stock. True Wealth Design LLC boosted its position in shares of Datadog by 12,000.0% during the 3rd quarter. True Wealth Design LLC now owns 242 shares of the company's stock valued at $28,000 after acquiring an additional 240 shares during the last quarter. Retirement Wealth Solutions LLC purchased a new stake in shares of Datadog in the 4th quarter valued at approximately $30,000. Avior Wealth Management LLC increased its holdings in shares of Datadog by 55.9% during the 4th quarter. Avior Wealth Management LLC now owns 226 shares of the company's stock worth $32,000 after buying an additional 81 shares during the last quarter. Putney Financial Group LLC purchased a new stake in shares of Datadog during the 4th quarter valued at approximately $32,000. Finally, Meeder Asset Management Inc. grew its position in Datadog by 66.5% in the third quarter. Meeder Asset Management Inc. now owns 288 shares of the company's stock worth $33,000 after acquiring an additional 115 shares during the period. Hedge funds and other institutional investors 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.