Datadog (NASDAQ:DDOG) Trading Up 1.2% - Here's Why

Datadog, Inc. (NASDAQ:DDOG - Get Free Report)'s share price traded up 1.2% during mid-day trading on Monday . The company traded as high as $95.88 and last traded at $93.15. 1,602,967 shares traded hands during mid-day trading, a decline of 63% from the average session volume of 4,313,187 shares. The stock had previously closed at $92.02.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. JMP Securities restated a "market perform" rating on shares of Datadog in a report on Friday, February 14th. Cantor Fitzgerald initiated 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. Truist Financial cut their target price on Datadog from $140.00 to $120.00 and set a "hold" rating on the stock in a research note on Monday, March 31st. Citigroup decreased their price objective on shares of Datadog from $170.00 to $165.00 and set a "buy" rating for the company in a report on Friday, February 14th. Finally, Scotiabank reduced their price target on shares of Datadog from $155.00 to $125.00 and set a "sector outperform" rating for the company in a research note on Tuesday. Seven investment analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $152.37.

Datadog Price Performance

The stock has a market cap of $31.21 billion, a PE ratio of 178.54, a price-to-earnings-growth ratio of 44.03 and a beta of 1.20. The stock has a 50-day moving average price of $107.84 and a two-hundred day moving average price of $128.35.

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

Insider Buying and Selling at Datadog

In related news, CEO Olivier Pomel sold 107,365 shares of the company's 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 directly owns 563,598 shares of the company's stock, valued at $49,219,013.34. This represents a 16.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO Alexis Le-Quoc sold 127,105 shares of Datadog stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $142.78, for a total value of $18,148,051.90. Following the completion of the transaction, the chief technology officer now owns 324,778 shares in the company, valued at $46,371,802.84. This represents a 28.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 548,756 shares of company stock worth $62,219,250 over the last 90 days. Company insiders own 11.78% of the company's stock.

Institutional Trading of Datadog

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Sanctuary Advisors LLC increased its holdings in Datadog by 106.8% in the 3rd quarter. Sanctuary Advisors LLC now owns 15,018 shares of the company's stock worth $1,728,000 after buying an additional 7,757 shares during the period. Wilmington Savings Fund Society FSB purchased a new stake in Datadog during the 3rd quarter valued at about $625,000. Blankinship & Foster LLC purchased a new stake in Datadog in the 3rd quarter valued at $351,000. Tidal Investments LLC raised its position in shares of Datadog by 27.6% during the 3rd quarter. Tidal Investments LLC now owns 28,295 shares of the company's stock valued at $3,256,000 after buying an additional 6,119 shares during the period. Finally, Peapack Gladstone Financial Corp increased its position in shares of Datadog by 39.9% during the 3rd quarter. Peapack Gladstone Financial Corp now owns 5,140 shares of the company's stock worth $591,000 after purchasing an additional 1,465 shares during the last quarter. 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.