Shardul Shah Sells 23,748 Shares of Datadog, Inc. (NASDAQ:DDOG) Stock

by · The Cerbat Gem

Datadog, Inc. (NASDAQ:DDOG – Get Free Report) Director Shardul Shah sold 23,748 shares of the stock in a transaction that occurred on Wednesday, June 4th. The shares were sold at an average price of $120.00, for a total value of $2,849,760.00. Following the transaction, the director now directly owns 396,121 shares of the company’s stock, valued at $47,534,520. The trade was a 5.66% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Datadog Stock Up 1.7%

DDOG stock opened at $121.75 on Friday. Datadog, Inc. has a fifty-two week low of $81.63 and a fifty-two week high of $170.08. The business has a 50 day moving average price of $104.72 and a 200 day moving average price of $124.61. The stock has a market cap of $42.05 billion, a price-to-earnings ratio of 238.73, a PEG ratio of 44.03 and a beta of 1.12.

Datadog (NASDAQ:DDOG – Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The company reported $0.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.42 by $0.04. The company had revenue of $761.55 million during the quarter, compared to the consensus estimate of $741.73 million. Datadog had a net margin of 6.85% and a return on equity of 8.28%. Datadog’s revenue for the quarter was up 24.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.44 earnings per share. As a group, sell-side analysts anticipate that Datadog, Inc. will post 0.34 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Morgan Stanley decreased their target price on shares of Datadog from $143.00 to $115.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 16th. Wells Fargo & Company reduced their price target on Datadog from $140.00 to $115.00 and set an “equal weight” rating on the stock in a report on Wednesday, May 7th. Citigroup dropped their price objective on shares of Datadog from $170.00 to $165.00 and set a “buy” rating for the company in a report on Friday, February 14th. JMP Securities restated a “market perform” rating on shares of Datadog in a research report on Friday, February 14th. Finally, DA Davidson increased their price target on Datadog from $115.00 to $125.00 and gave the stock a “buy” rating in a report on Monday, May 5th. Seven research analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $141.04.

View Our Latest Stock Report on Datadog

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in DDOG. OVERSEA CHINESE BANKING Corp Ltd grew its position in shares of Datadog by 887.0% during the first quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 25,199 shares of the company’s stock worth $25,000 after acquiring an additional 22,646 shares during the last quarter. Cornerstone Planning Group LLC boosted its stake in shares of Datadog by 96.9% during the first quarter. Cornerstone Planning Group LLC now owns 313 shares of the company’s stock worth $30,000 after buying an additional 154 shares during the period. Costello Asset Management INC acquired a new stake in shares of Datadog during the first quarter worth about $30,000. Putney Financial Group LLC purchased a new position in shares of Datadog during the fourth quarter worth about $32,000. Finally, Elequin Capital LP acquired a new position in Datadog in the 4th quarter valued at about $34,000. Hedge funds and other institutional investors own 78.29% of the company’s stock.

About Datadog

(Get Free Report)

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.

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