Datadog (NASDAQ:DDOG) Trading Down 7.1% on Insider Selling

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Shares of Datadog, Inc. (NASDAQ:DDOGGet Rating) were down 7.1% during mid-day trading on Tuesday after an insider sold shares in the company. The company traded as low as $95.90 and last traded at $96.67. Approximately 35,282 shares were traded during mid-day trading, a decline of 99% from the average daily volume of 4,627,359 shares. The stock had previously closed at $104.01.

Specifically, Director Julie Richardson sold 3,906 shares of the firm’s stock in a transaction dated Monday, April 18th. The shares were sold at an average price of $130.53, for a total value of $509,850.18. Following the completion of the sale, the director now owns 2,116 shares in the company, valued at $276,201.48. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CRO Sean Michael Walters sold 1,471 shares of the firm’s stock in a transaction dated Thursday, June 2nd. The shares were sold at an average price of $102.22, for a total transaction of $150,365.62. Following the completion of the sale, the executive now owns 154,639 shares of the company’s stock, valued at approximately $15,807,198.58. The disclosure for this sale can be found here. Insiders have sold 98,882 shares of company stock valued at $10,229,920 in the last quarter. Insiders own 15.80% of the company’s stock.

DDOG has been the subject of a number of recent analyst reports. Monness Crespi & Hardt reduced their price objective on shares of Datadog from $228.00 to $160.00 and set a “buy” rating for the company in a research report on Friday, May 6th. Jefferies Financial Group reduced their price objective on shares of Datadog from $170.00 to $125.00 in a research report on Monday, May 23rd. KeyCorp reduced their price target on shares of Datadog from $210.00 to $160.00 and set an “overweight” rating for the company in a research report on Monday, April 25th. Truist Financial reduced their price target on shares of Datadog from $200.00 to $170.00 in a research report on Friday, May 6th. Finally, Citigroup reduced their price target on shares of Datadog from $220.00 to $195.00 in a research report on Friday, May 6th. Six investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat, Datadog presently has a consensus rating of “Moderate Buy” and a consensus target price of $169.40.

The stock has a market capitalization of $30.66 billion, a PE ratio of -9,732,000.00 and a beta of 1.21. The company has a current ratio of 3.33, a quick ratio of 3.33 and a debt-to-equity ratio of 0.66. The company’s 50 day simple moving average is $98.64 and its 200 day simple moving average is $128.53.

Datadog (NASDAQ:DDOGGet Rating) last released its earnings results on Thursday, May 5th. The company reported $0.04 EPS for the quarter, topping the consensus estimate of ($0.06) by $0.10. The firm had revenue of $363.03 million during the quarter, compared to analysts’ expectations of $337.81 million. Datadog had a net margin of 0.17% and a return on equity of 1.53%. Datadog’s revenue for the quarter was up 82.8% on a year-over-year basis. During the same period in the previous year, the company earned ($0.03) EPS. As a group, analysts predict that Datadog, Inc. will post -0.14 EPS for the current year.

A number of hedge funds have recently added to or reduced their stakes in DDOG. UMB Bank N A MO purchased a new stake in Datadog in the 4th quarter worth approximately $25,000. Retirement Planning Co of New England Inc. acquired a new position in shares of Datadog in the 4th quarter valued at $27,000. Optimum Investment Advisors acquired a new position in shares of Datadog in the 4th quarter valued at $27,000. Riverview Trust Co acquired a new position in shares of Datadog in the 1st quarter valued at $27,000. Finally, SJS Investment Consulting Inc. acquired a new position in shares of Datadog in the 1st quarter valued at $27,000. 65.17% of the stock is owned by hedge funds and other institutional investors.

About Datadog (NASDAQ:DDOG)

Datadog, Inc provides monitoring and analytics platform for developers, information technology operations teams, and business users in the cloud in North America and internationally. The company’s SaaS platform integrates and automates infrastructure monitoring, application performance monitoring, log management, and security monitoring to provide real-time observability of its customers technology stack.

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