Datadog (NASDAQ:DDOG) Stock Price Down 0.6% – What’s Next?

Datadog, Inc. (NASDAQ:DDOG)’s stock price was down 0.6% during mid-day trading on Monday . The company traded as low as $100.78 and last traded at $100.95. Approximately 457,235 shares were traded during mid-day trading, a decline of 89% from the average daily volume of 4,339,256 shares. The stock had previously closed at $101.52.

Wall Street Analysts Forecast Growth

DDOG has been the subject of a number of recent analyst reports. Macquarie restated an “outperform” rating and set a $200.00 price target on shares of Datadog in a report on Tuesday, February 11th. Jefferies Financial Group reiterated a “buy” rating and set a $135.00 price target (down from $150.00) on shares of Datadog in a report on Monday, April 7th. Needham & Company LLC reiterated a “buy” rating and set a $160.00 target price on shares of Datadog in a research note on Tuesday, March 4th. Guggenheim reaffirmed a “neutral” rating on shares of Datadog in a research report on Wednesday, January 22nd. Finally, Wolfe Research lowered Datadog from an “outperform” rating to a “peer perform” rating in a research note on Tuesday, February 18th. Seven research analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, Datadog presently has a consensus rating of “Moderate Buy” and an average target price of $150.33.

Datadog Stock Down 0.2 %

The company has a market cap of $34.72 billion, a P/E ratio of 198.36, a P/E/G ratio of 44.03 and a beta of 1.20. The business has a 50-day moving average price of $102.74 and a two-hundred day moving average price of $127.32.

Datadog (NASDAQ:DDOG) last announced its quarterly earnings data on Thursday, February 13th. The company reported $0.13 earnings per share 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, sell-side analysts expect that Datadog, Inc. will post 0.34 EPS for the current fiscal year.

Insider Buying and Selling

In other Datadog news, Director Amit Agarwal sold 10,167 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $115.86, for a total transaction of $1,177,948.62. Following the sale, the director now directly owns 82,324 shares in the company, valued at approximately $9,538,058.64. This trade represents a 10.99 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Olivier Pomel sold 107,365 shares of the company’s stock in a transaction on Friday, March 7th. The stock was sold at an average price of $109.56, for a total transaction of $11,762,909.40. Following the completion of the transaction, the chief executive officer now directly owns 435,793 shares of the company’s stock, valued at approximately $47,745,481.08. The trade was a 19.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 512,561 shares of company stock valued at $57,166,767 in the last 90 days. 11.78% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Proficio Capital Partners LLC acquired a new position in Datadog during the fourth quarter worth $14,884,000. ARK Investment Management LLC increased its stake in shares of Datadog by 62.7% during the 4th quarter. ARK Investment Management LLC now owns 127,290 shares of the company’s stock worth $18,188,000 after purchasing an additional 49,050 shares during the last quarter. Y Intercept Hong Kong Ltd lifted its stake in Datadog by 140.1% in the 4th quarter. Y Intercept Hong Kong Ltd now owns 53,116 shares of the company’s stock valued at $7,590,000 after purchasing an additional 30,998 shares during the last quarter. Baillie Gifford & Co. grew its holdings 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 during the period. Finally, Cullen Frost Bankers Inc. raised its stake in Datadog by 3.5% in the fourth quarter. Cullen Frost Bankers Inc. now owns 72,489 shares of the company’s stock valued at $10,358,000 after buying an additional 2,451 shares during the period. 78.29% of the stock is currently owned by institutional investors.

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.