Datadog (NASDAQ:DDOG) Hits New 52-Week Low on Insider Selling

Datadog, Inc. (NASDAQ:DDOG)’s stock price hit a new 52-week low on Thursday after an insider sold shares in the company. The stock traded as low as $98.73 and last traded at $99.22, with a volume of 2794102 shares changing hands. 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 shares were sold at an average price of $102.04, for a total transaction of $862,646.16. Following the completion of the sale, the executive now owns 185,871 shares in the company, valued at $18,966,276.84. This trade represents a 4.35 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Olivier Pomel sold 107,365 shares of Datadog stock in a transaction on Friday, March 7th. The shares were sold at an average price of $109.56, for a total value of $11,762,909.40. Following the sale, the chief executive officer now directly owns 435,793 shares of the company’s stock, valued at approximately $47,745,481.08. This trade represents a 19.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Citigroup lowered their price objective on shares of Datadog from $170.00 to $165.00 and set a “buy” rating for the company in a research note on Friday, February 14th. Wells Fargo & Company lowered shares of Datadog from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $152.00 to $140.00 in a report on Thursday, February 13th. Cantor Fitzgerald assumed coverage on shares of Datadog in a research note on Friday, January 17th. They issued an “overweight” rating and a $180.00 price objective for the company. Mizuho lifted their price target on Datadog from $155.00 to $170.00 and gave the company an “outperform” rating in a report on Friday, December 13th. Finally, Stifel Nicolaus cut Datadog from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $165.00 to $140.00 in a research note on Wednesday, January 29th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, twenty-one have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $158.70.

Datadog Trading Down 3.3 %

The firm has a market cap of $33.82 billion, a price-to-earnings ratio of 193.49, a PEG ratio of 44.03 and a beta of 1.22. The company has a fifty day moving average price of $131.67 and a 200-day moving average price of $131.22.

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

Institutional Trading of Datadog

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in shares of Datadog by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 30,354,229 shares of the company’s stock worth $4,337,316,000 after acquiring an additional 220,527 shares in the last quarter. Baillie Gifford & Co. boosted its position in Datadog by 15.8% during the fourth quarter. Baillie Gifford & Co. now owns 10,905,133 shares of the company’s stock worth $1,558,234,000 after purchasing an additional 1,484,562 shares in the last quarter. Jennison Associates LLC grew its holdings in Datadog by 47.9% in the fourth quarter. Jennison Associates LLC now owns 9,278,648 shares of the company’s stock valued at $1,325,826,000 after purchasing an additional 3,005,300 shares during the period. Groupama Asset Managment increased its position in shares of Datadog by 407.6% in the fourth quarter. Groupama Asset Managment now owns 6,600,000 shares of the company’s stock valued at $943,074,000 after buying an additional 5,299,688 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in shares of Datadog by 9.6% during the 4th quarter. Geode Capital Management LLC now owns 5,684,612 shares of the company’s stock worth $811,076,000 after buying an additional 499,055 shares during the period. Institutional investors and hedge funds own 78.29% of the company’s stock.

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.