Shardul Shah Sells 7,916 Shares of Datadog, Inc. (NASDAQ:DDOG) Stock

Datadog, Inc. (NASDAQ:DDOG) Director Shardul Shah sold 7,916 shares of the firm’s stock in a transaction on Monday, June 16th. The stock was sold at an average price of $120.86, for a total value of $956,727.76. Following the sale, the director now directly owns 388,205 shares of the company’s stock, valued at approximately $46,918,456.30. This represents a 2.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Shardul Shah also recently made the following trade(s):

• On Wednesday, June 4th, Shardul Shah sold 23,748 shares of Datadog stock. The shares were sold at an average price of $120.00, for a total value of $2,849,760.00.

Datadog Stock Performance

Shares of DDOG opened at $130.04 on Friday. The firm has a market cap of $44.91 billion, a price-to-earnings ratio of 282.70, a price-to-earnings-growth ratio of 72.08 and a beta of 1.01. The company’s fifty day moving average is $110.65 and its 200-day moving average is $122.84. The company has a quick ratio of 2.74, a current ratio of 2.74 and a debt-to-equity ratio of 0.34. Datadog, Inc. has a 12 month low of $81.63 and a 12 month high of $170.08.

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

Analysts Set New Price Targets

A number of analysts have commented on the stock. UBS Group upped their price objective on shares of Datadog from $125.00 to $140.00 and gave the company a “buy” rating in a research note on Wednesday, June 11th. Wells Fargo & Company cut their price target on shares of Datadog from $140.00 to $115.00 and set an “equal weight” rating on the stock in a report on Wednesday, May 7th. BTIG Research set a $136.00 price objective on shares of Datadog and gave the stock a “buy” rating in a research note on Tuesday, May 6th. Stifel Nicolaus set a $120.00 target price on shares of Datadog in a research note on Tuesday, May 6th. Finally, Wolfe Research raised Datadog from a “peer perform” rating to an “outperform” rating and set a $150.00 target price for the company in a research report on Thursday, June 12th. Six equities research analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $142.52.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Goldman Sachs Group Inc. boosted its position in Datadog by 259.7% during the first quarter. Goldman Sachs Group Inc. now owns 8,658,340 shares of the company’s stock worth $858,994,000 after purchasing an additional 6,250,942 shares during the period. Groupama Asset Managment lifted its stake 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 worth $943,074,000 after buying an additional 5,299,688 shares during the last quarter. Janus Henderson Group PLC boosted its holdings in shares of Datadog by 17,477.2% during the 4th quarter. Janus Henderson Group PLC now owns 4,016,558 shares of the company’s stock worth $573,923,000 after buying an additional 3,993,707 shares during the period. Norges Bank bought a new stake in shares of Datadog during the 4th quarter worth $462,910,000. Finally, Brown Advisory Inc. grew its stake in Datadog by 2,804.2% in the 4th quarter. Brown Advisory Inc. now owns 2,749,174 shares of the company’s stock valued at $392,830,000 after buying an additional 2,654,512 shares during the last quarter. 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.