Datadog (NASDAQ:DDOG) Trading 0.9% Higher - Time to Buy?

Datadog, Inc. (NASDAQ:DDOG - Get Free Report)'s stock price was up 0.9% during mid-day trading on Tuesday . The stock traded as high as $100.70 and last traded at $100.11. Approximately 1,472,704 shares traded hands during mid-day trading, a decline of 65% from the average daily volume of 4,178,602 shares. The stock had previously closed at $99.21.

Analyst Upgrades and Downgrades

DDOG has been the topic of a number of recent research reports. JMP Securities reaffirmed a "market perform" rating on shares of Datadog in a report on Friday, February 14th. Jefferies Financial Group decreased their price target on Datadog from $170.00 to $150.00 and set a "buy" rating on the stock in a research note on Monday. Wells Fargo & Company cut Datadog from an "overweight" rating to an "equal weight" rating and lowered their price target for the company from $152.00 to $140.00 in a research report on Thursday, February 13th. Macquarie reissued an "outperform" rating and set a $200.00 price objective on shares of Datadog in a report on Tuesday, February 11th. Finally, Cantor Fitzgerald began coverage on shares of Datadog in a research note on Friday, January 17th. They set an "overweight" rating and a $180.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, twenty-one have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, Datadog presently has an average rating of "Moderate Buy" and an average price target of $157.22.

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Datadog Price Performance

The company's 50-day moving average price is $120.58 and its 200-day moving average price is $130.37. The company has a market cap of $30.14 billion, a P/E ratio of 172.42, a P/E/G ratio of 44.03 and a beta of 1.20.

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

Insider Activity at Datadog

In other news, Director Amit Agarwal sold 25,000 shares of the stock in a transaction dated Wednesday, January 8th. The shares were sold at an average price of $141.12, for a total transaction of $3,528,000.00. Following the completion of the transaction, the director now directly owns 195,667 shares in the company, valued at $27,612,527.04. This represents a 11.33 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CTO Alexis Le-Quoc sold 127,105 shares of Datadog stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $102.15, for a total value of $12,983,775.75. Following the completion of the sale, the chief technology officer now directly owns 371,865 shares in the company, valued at approximately $37,986,009.75. This represents a 25.47 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 601,412 shares of company stock valued at $75,444,584. 11.78% of the stock is owned by insiders.

Institutional Investors Weigh In On Datadog

Large investors have recently made changes to their positions in the stock. Retirement Wealth Solutions LLC bought a new position in shares of Datadog in the 4th quarter valued at about $30,000. Putney Financial Group LLC bought a new position in Datadog during the fourth quarter worth about $32,000. Avior Wealth Management LLC increased its position in Datadog by 55.9% during the fourth 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. Elequin Capital LP acquired a new position in Datadog during the fourth quarter worth approximately $34,000. Finally, Coppell Advisory Solutions LLC raised its stake in Datadog by 178.8% in the fourth quarter. Coppell Advisory Solutions LLC now owns 276 shares of the company's stock valued at $40,000 after buying an additional 177 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.