Datadog, Inc. (NASDAQ:DDOG) CFO Sells $1,953,750.00 in Stock

Datadog, Inc. (NASDAQ:DDOG) CFO David M. Obstler sold 15,000 shares of Datadog stock in a transaction dated Wednesday, June 18th. The stock was sold at an average price of $130.25, for a total value of $1,953,750.00. Following the sale, the chief financial officer now directly owns 399,270 shares of the company’s stock, valued at $52,004,917.50. This trade represents a 3.62% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Datadog Stock Performance

NASDAQ:DDOG opened at $130.24 on Thursday. The company has a debt-to-equity ratio of 0.34, a current ratio of 2.74 and a quick ratio of 2.74. The firm has a market cap of $44.98 billion, a price-to-earnings ratio of 283.14, a price-to-earnings-growth ratio of 72.37 and a beta of 1.01. The firm’s fifty day moving average price is $113.64 and its 200 day moving average price is $121.91. Datadog, Inc. has a 1-year low of $81.63 and a 1-year high of $170.08.

Datadog (NASDAQ:DDOG) last issued its earnings results on Tuesday, May 6th. The company reported $0.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.42 by $0.04. Datadog had a return on equity of 6.39% and a net margin of 5.85%. The business had revenue of $761.55 million during the quarter, compared to the consensus estimate of $741.73 million. During the same period in the prior year, the business posted $0.44 EPS. The company’s revenue for the quarter was up 24.6% on a year-over-year basis. On average, sell-side analysts expect that Datadog, Inc. will post 0.34 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Scotiabank set a $130.00 target price on Datadog and gave the stock an “outperform” rating in a research report on Wednesday, May 7th. Needham & Company LLC set a $140.00 price objective on shares of Datadog and gave the stock a “buy” rating in a report on Thursday, June 12th. Wolfe Research upgraded shares of Datadog from a “peer perform” rating to an “outperform” rating and set a $150.00 price objective for the company in a research report on Thursday, June 12th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $119.00 target price on shares of Datadog in a research report on Wednesday, May 7th. Finally, Bank of America boosted their price target on shares of Datadog from $138.00 to $150.00 and gave the company a “buy” rating in a research report on Wednesday, June 18th. Six analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the stock. Based on data from MarketBeat.com, Datadog has a consensus rating of “Moderate Buy” and an average target price of $142.52.

Institutional Trading of Datadog

A number of institutional investors have recently added to or reduced their stakes in DDOG. OVERSEA CHINESE BANKING Corp Ltd raised its holdings in Datadog by 887.0% during the first quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 25,199 shares of the company’s stock worth $25,000 after purchasing an additional 22,646 shares during the last quarter. Cornerstone Planning Group LLC lifted its holdings in Datadog by 96.9% in the 1st quarter. Cornerstone Planning Group LLC now owns 313 shares of the company’s stock valued at $30,000 after purchasing an additional 154 shares in the last quarter. Costello Asset Management INC acquired a new stake in Datadog during the first quarter worth approximately $30,000. Putney Financial Group LLC acquired a new stake in shares of Datadog during the fourth quarter worth $32,000. Finally, Elequin Capital LP acquired a new stake in Datadog in the 4th quarter worth about $34,000. 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.