Datadog (NASDAQ:DDOG) Shares Gap Down to $126.97

Datadog, Inc. (NASDAQ:DDOG) gapped down before the market opened on Tuesday . The stock had previously closed at $126.97, but opened at $113.26. Datadog shares last traded at $113.19, with a volume of 5,797,238 shares.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Truist Financial upped their price objective on shares of Datadog from $140.00 to $155.00 and gave the stock a “buy” rating in a research report on Wednesday, February 14th. Canaccord Genuity Group reiterated a “buy” rating and set a $150.00 price target on shares of Datadog in a research report on Friday, February 23rd. Needham & Company LLC restated a “buy” rating and issued a $165.00 price objective on shares of Datadog in a research report on Tuesday. Wolfe Research lifted their price target on shares of Datadog from $140.00 to $150.00 and gave the company an “outperform” rating in a research note on Wednesday, February 14th. Finally, Robert W. Baird upgraded shares of Datadog from a “neutral” rating to an “outperform” rating and upped their price objective for the stock from $130.00 to $140.00 in a research report on Wednesday. Four analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $135.58.

Datadog Stock Down 1.2 %

The company has a debt-to-equity ratio of 0.37, a current ratio of 3.17 and a quick ratio of 3.17. The company has a market capitalization of $38.45 billion, a PE ratio of 965.58 and a beta of 1.14. The business’s 50 day simple moving average is $124.30 and its 200 day simple moving average is $119.14.

Datadog (NASDAQ:DDOG) last released its quarterly earnings results on Tuesday, February 13th. The company reported $0.44 EPS for the quarter, beating the consensus estimate of $0.43 by $0.01. The firm had revenue of $589.65 million for the quarter, compared to analyst estimates of $568.73 million. Datadog had a net margin of 2.28% and a return on equity of 3.79%. The business’s revenue for the quarter was up 25.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.08) EPS. As a group, analysts anticipate that Datadog, Inc. will post -0.14 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Madre Armelle De sold 300 shares of the company’s stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $113.37, for a total value of $34,011.00. Following the transaction, the insider now directly owns 100,053 shares in the company, valued at approximately $11,343,008.61. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, insider Madre Armelle De sold 300 shares of the stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $113.37, for a total transaction of $34,011.00. Following the transaction, the insider now owns 100,053 shares of the company’s stock, valued at approximately $11,343,008.61. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Olivier Pomel sold 19,226 shares of the firm’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $130.06, for a total value of $2,500,533.56. Following the transaction, the chief executive officer now owns 299,075 shares of the company’s stock, valued at $38,897,694.50. The disclosure for this sale can be found here. Insiders sold a total of 712,530 shares of company stock valued at $91,195,791 over the last 90 days. 11.78% of the stock is owned by company insiders.

Institutional Investors Weigh In On Datadog

A number of hedge funds have recently added to or reduced their stakes in DDOG. Vanguard Group Inc. increased its position in shares of Datadog by 2.8% during the fourth quarter. Vanguard Group Inc. now owns 27,259,414 shares of the company’s stock worth $3,308,748,000 after acquiring an additional 734,539 shares during the period. Sands Capital Management LLC raised its position in Datadog by 3.7% in the 4th quarter. Sands Capital Management LLC now owns 4,564,776 shares of the company’s stock valued at $554,073,000 after purchasing an additional 162,108 shares in the last quarter. Norges Bank purchased a new position in shares of Datadog in the 4th quarter valued at about $384,986,000. Massachusetts Financial Services Co. MA grew its position in shares of Datadog by 31.3% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 2,733,448 shares of the company’s stock worth $331,786,000 after buying an additional 651,244 shares in the last quarter. Finally, 1832 Asset Management L.P. increased its stake in shares of Datadog by 47.9% during the fourth quarter. 1832 Asset Management L.P. now owns 2,619,500 shares of the company’s stock worth $317,955,000 after buying an additional 848,000 shares during the period. 78.29% of the stock is currently owned by institutional investors and hedge funds.

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.