Datadog (NASDAQ:DDOG) Hits New 52-Week Low – Time to Sell?

Shares of Datadog, Inc. (NASDAQ:DDOG) hit a new 52-week low during trading on Monday . The stock traded as low as $81.63 and last traded at $82.64, with a volume of 1228228 shares traded. The stock had previously closed at $87.93.

Analyst Ratings Changes

Several analysts have issued reports on DDOG shares. Cantor Fitzgerald initiated coverage on Datadog in a research note on Friday, January 17th. They set an “overweight” rating and a $180.00 price objective on the stock. Needham & Company LLC restated a “buy” rating and set a $160.00 price objective on shares of Datadog in a research note on Tuesday, March 4th. Mizuho boosted their target price on shares of Datadog from $155.00 to $170.00 and gave the company an “outperform” rating in a research note on Friday, December 13th. Morgan Stanley reissued an “equal weight” rating and issued a $143.00 target price on shares of Datadog in a report on Thursday, January 16th. Finally, JMP Securities reaffirmed a “market perform” rating on shares of Datadog in a report on Friday, February 14th. One research 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 given a strong buy rating to the company’s stock. According to data from MarketBeat, Datadog has a consensus rating of “Moderate Buy” and an average price target of $156.67.

Datadog Stock Performance

The firm has a market cap of $29.75 billion, a P/E ratio of 171.50, a P/E/G ratio of 44.03 and a beta of 1.20. The firm’s fifty day moving average is $119.52 and its 200 day moving average is $130.45.

Datadog (NASDAQ:DDOG) last issued its quarterly earnings data on Thursday, February 13th. The company reported $0.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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, equities research analysts forecast that Datadog, Inc. will post 0.34 EPS for the current year.

Insider Transactions at Datadog

In other news, CEO Olivier Pomel sold 107,365 shares of the firm’s stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $109.56, for a total transaction of $11,762,909.40. Following the transaction, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CTO Alexis Le-Quoc sold 127,105 shares of the stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $102.15, for a total value of $12,983,775.75. Following the sale, the chief technology officer now directly owns 371,865 shares in the company, valued at $37,986,009.75. This represents a 25.47 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 601,412 shares of company stock valued at $75,444,584. 11.78% of the stock is currently owned by corporate insiders.

Institutional Trading of Datadog

Several large investors have recently modified their holdings of the stock. MassMutual Private Wealth & Trust FSB lifted its position in Datadog by 74.0% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 381 shares of the company’s stock worth $38,000 after purchasing an additional 162 shares during the period. 111 Capital bought a new stake in shares of Datadog during the 4th quarter worth approximately $494,000. Wealth Enhancement Advisory Services LLC boosted its position in shares of Datadog by 32.0% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 15,506 shares of the company’s stock worth $2,216,000 after acquiring an additional 3,760 shares in the last quarter. Lansforsakringar Fondforvaltning AB publ bought a new position in Datadog in the fourth quarter valued at approximately $13,285,000. Finally, Siemens Fonds Invest GmbH raised its position in Datadog by 2.4% during the fourth quarter. Siemens Fonds Invest GmbH now owns 5,856 shares of the company’s stock valued at $844,000 after purchasing an additional 137 shares in the last quarter. 78.29% of the stock is owned by institutional investors and hedge funds.

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.