David M. Obstler Sells 33,333 Shares of Datadog, Inc. (NASDAQ:DDOG) Stock

Datadog, Inc. (NASDAQ:DDOG - Get Free Report) CFO David M. Obstler sold 33,333 shares of Datadog stock in a transaction on Friday, October 11th. The shares were sold at an average price of $130.39, for a total value of $4,346,289.87. Following the completion of the transaction, the chief financial officer now owns 314,158 shares in the company, valued at $40,963,061.62. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Datadog Stock Down 0.7 %

Shares of DDOG traded down $0.88 during mid-day trading on Wednesday, reaching $126.00. The company's stock had a trading volume of 2,463,666 shares, compared to its average volume of 3,811,278. The business has a fifty day moving average of $116.02 and a 200 day moving average of $119.37. The company has a market cap of $42.15 billion, a price-to-earnings ratio of 393.75, a price-to-earnings-growth ratio of 22.85 and a beta of 1.11. Datadog, Inc. has a 1 year low of $77.81 and a 1 year high of $138.61.

Datadog (NASDAQ:DDOG - Get Free Report) last released its quarterly earnings data on Thursday, August 8th. The company reported $0.43 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.37 by $0.06. The firm had revenue of $645.28 million during the quarter, compared to analysts' expectations of $624.92 million. Datadog had a return on equity of 9.01% and a net margin of 6.81%. The business's revenue for the quarter was up 26.7% on a year-over-year basis. During the same quarter last year, the firm earned $0.36 earnings per share. On average, analysts predict that Datadog, Inc. will post 0.42 earnings per share for the current year.

Hedge Funds Weigh In On Datadog

Several hedge funds have recently bought and sold shares of the business. Riverview Trust Co bought a new stake in Datadog during the 1st quarter valued at approximately $26,000. SouthState Corp acquired a new stake in shares of Datadog during the second quarter worth approximately $26,000. Blue Trust Inc. acquired a new stake in Datadog during the 2nd quarter valued at $37,000. EverSource Wealth Advisors LLC raised its holdings in shares of Datadog by 70.2% in the first quarter. EverSource Wealth Advisors LLC now owns 308 shares of the company's stock valued at $39,000 after buying an additional 127 shares during the last quarter. Finally, American National Bank & Trust bought a new position in shares of Datadog in the third quarter worth about $39,000. 78.29% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on DDOG. Loop Capital reaffirmed a "buy" rating and issued a $160.00 target price on shares of Datadog in a research report on Friday, July 5th. BTIG Research raised Datadog from a "neutral" rating to a "buy" rating and set a $143.00 price objective for the company in a report on Thursday, August 1st. Monness Crespi & Hardt raised shares of Datadog from a "sell" rating to a "neutral" rating in a report on Wednesday, August 7th. DA Davidson raised Datadog from a "neutral" rating to a "buy" rating and raised their price target for the stock from $115.00 to $140.00 in a report on Tuesday, October 1st. Finally, Needham & Company LLC reduced their target price on shares of Datadog from $165.00 to $140.00 and set a "buy" rating for the company in a research note on Friday, August 9th. Four research analysts have rated the stock with a hold rating, twenty-six have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $141.19.

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.