Datadog (NASDAQ:DDOG) Stock Price Down 2.3% – Here’s Why

Datadog, Inc. (NASDAQ:DDOG) shares dropped 2.3% during mid-day trading on Friday . The company traded as low as $90.88 and last traded at $91.05. Approximately 720,035 shares traded hands during trading, a decline of 83% from the average daily volume of 4,304,325 shares. The stock had previously closed at $93.18.

Analysts Set New Price Targets

A number of research firms have recently commented on DDOG. Royal Bank of Canada boosted their target price on shares of Datadog from $151.00 to $170.00 and gave the stock an “outperform” rating in a research report on Friday, January 3rd. Truist Financial decreased their price objective on shares of Datadog from $140.00 to $120.00 and set a “hold” rating for the company in a research report on Monday, March 31st. Rosenblatt Securities lifted their target price on Datadog from $148.00 to $160.00 and gave the stock a “buy” rating in a research report on Wednesday, February 12th. Loop Capital increased their price target on Datadog from $160.00 to $200.00 and gave the company a “buy” rating in a report on Monday, December 23rd. Finally, Wolfe Research downgraded Datadog from an “outperform” rating to a “peer perform” rating in a report on Tuesday, February 18th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, twenty-one have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, Datadog has a consensus rating of “Moderate Buy” and a consensus target price of $156.67.

Datadog Price Performance

The company has a market cap of $31.63 billion, a PE ratio of 180.70, a price-to-earnings-growth ratio of 44.03 and a beta of 1.20. The stock has a fifty day moving average price of $113.16 and a 200-day moving average price of $129.24.

Datadog (NASDAQ:DDOG) last issued its quarterly earnings data on Thursday, February 13th. The company reported $0.13 EPS for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.31). Datadog had a net margin of 6.85% and a return on equity of 8.28%. On average, equities analysts anticipate that Datadog, Inc. will post 0.34 earnings per share for the current year.

Insider Activity at Datadog

In other news, CEO Olivier Pomel sold 107,365 shares of the stock in a transaction on 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 transaction, the chief executive officer now owns 563,598 shares in the company, valued at approximately $49,219,013.34. This represents a 16.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CTO Alexis Le-Quoc sold 127,105 shares of the firm’s stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $102.15, for a total transaction of $12,983,775.75. Following the transaction, the chief technology officer now directly owns 371,865 shares of the company’s stock, valued at $37,986,009.75. The trade was a 25.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 556,672 shares of company stock worth $63,344,272. 11.78% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Datadog

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Janus Henderson Group PLC lifted its holdings in shares of Datadog by 29.8% during the third quarter. Janus Henderson Group PLC now owns 22,851 shares of the company’s stock valued at $2,629,000 after acquiring an additional 5,252 shares during the period. Quarry LP bought a new position in Datadog during the 3rd quarter valued at about $33,000. EP Wealth Advisors LLC acquired a new position in Datadog in the third quarter valued at about $323,000. Orion Portfolio Solutions LLC boosted its position in Datadog by 11.6% in the third quarter. Orion Portfolio Solutions LLC now owns 6,974 shares of the company’s stock valued at $802,000 after buying an additional 726 shares in the last quarter. Finally, MML Investors Services LLC grew its stake in Datadog by 6.1% during the third quarter. MML Investors Services LLC now owns 61,206 shares of the company’s stock worth $7,042,000 after buying an additional 3,539 shares during the last quarter. Institutional investors 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.