Datadog (NASDAQ:DDOG) Stock Price Down 3.5% After Insider Selling

Datadog, Inc. (NASDAQ:DDOG - Get Free Report)'s stock price was down 3.5% during mid-day trading on Thursday following insider selling activity. The stock traded as low as $93.91 and last traded at $94.03. Approximately 1,315,365 shares changed hands during mid-day trading, a decline of 69% from the average daily volume of 4,295,607 shares. The stock had previously closed at $97.44.

Specifically, CEO Olivier Pomel sold 107,365 shares of the stock in a transaction dated Monday, April 7th. The shares were sold at an average price of $87.33, for a total value of $9,376,185.45. Following the completion of the sale, the chief executive officer now owns 563,598 shares in the company, valued at approximately $49,219,013.34. This trade represents a 16.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Wall Street Analyst Weigh In

A number of analysts have commented on the company. Needham & Company LLC reiterated a "buy" rating and issued a $160.00 price objective on shares of Datadog in a research report on Tuesday, March 4th. JMP Securities reissued a "market perform" rating on shares of Datadog in a report on Friday, February 14th. Rosenblatt Securities raised their price objective on shares of Datadog from $148.00 to $160.00 and gave the stock a "buy" rating in a report on Wednesday, February 12th. Loop Capital upped their target price on shares of Datadog from $160.00 to $200.00 and gave the company a "buy" rating in a research note on Monday, December 23rd. Finally, Wells Fargo & Company lowered shares of Datadog from an "overweight" rating to an "equal weight" rating and dropped their price target for the stock from $152.00 to $140.00 in a research report on Thursday, February 13th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, twenty-one have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $156.67.

Datadog Stock Performance

The firm's 50-day moving average price is $112.08 and its 200 day moving average price is $129.18. The company has a market cap of $31.07 billion, a price-to-earnings ratio of 177.73, a PEG ratio of 44.03 and a beta of 1.20.

Datadog (NASDAQ:DDOG - Get Free Report) last posted its quarterly earnings results on Thursday, February 13th. The company reported $0.13 earnings per share 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%. As a group, equities research analysts predict that Datadog, Inc. will post 0.34 EPS for the current fiscal year.

Institutional Trading of Datadog

Hedge funds have recently modified their holdings of the company. Retirement Wealth Solutions LLC acquired a new stake in Datadog in the fourth quarter worth $30,000. Avior Wealth Management LLC increased its holdings in shares of Datadog by 55.9% in the fourth 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. Putney Financial Group LLC acquired a new stake in shares of Datadog during the fourth quarter worth about $32,000. Elequin Capital LP bought a new position in shares of Datadog during the 4th quarter valued at about $34,000. Finally, MassMutual Private Wealth & Trust FSB grew its position in shares of Datadog by 74.0% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 381 shares of the company's stock valued at $38,000 after purchasing an additional 162 shares during the period. 78.29% of the stock is currently owned by institutional investors and hedge funds.

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.