Datadog, Inc. (NASDAQ:DDOG) General Counsel Kerry Acocella Sells 1,070 Shares

Posted by Defense World Staff on Jun 7th, 2023

Datadog, Inc. (NASDAQ:DDOG – Get Rating) General Counsel Kerry Acocella sold 1,070 shares of the firm’s stock in a transaction that occurred on Friday, June 2nd. The stock was sold at an average price of $100.33, for a total transaction of $107,353.10. Following the transaction, the general counsel now directly owns 72,675 shares in the company, valued at $7,291,482.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Kerry Acocella also recently made the following trade(s):

On Tuesday, May 9th, Kerry Acocella sold 1,349 shares of Datadog stock. The shares were sold at an average price of $80.47, for a total transaction of $108,554.03.

Datadog Trading Up 1.5 %

Shares of NASDAQ:DDOG opened at $101.85 on Wednesday. The company has a debt-to-equity ratio of 0.49, a current ratio of 3.19 and a quick ratio of 3.19. Datadog, Inc. has a one year low of $61.34 and a one year high of $120.75. The company’s fifty day moving average price is $78.45 and its 200-day moving average price is $75.48.

Datadog (NASDAQ:DDOG – Get Rating) last released its earnings results on Thursday, May 4th. The company reported ($0.07) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.05). Datadog had a negative net margin of 4.68% and a negative return on equity of 4.86%. The business had revenue of $481.71 million for the quarter, compared to the consensus estimate of $468.29 million. As a group, analysts anticipate that Datadog, Inc. will post -0.15 EPS for the current year.

Hedge Funds Weigh In On Datadog

Several institutional investors and hedge funds have recently made changes to their positions in DDOG. Tiger Global Management LLC boosted its position in Datadog by 218.3% during the 3rd quarter. Tiger Global Management LLC now owns 5,775,031 shares of the company’s stock valued at $512,707,000 after buying an additional 3,960,748 shares during the period. Norges Bank purchased a new stake in Datadog during the 4th quarter valued at $202,877,000. WCM Investment Management LLC boosted its position in Datadog by 110.9% during the 4th quarter. WCM Investment Management LLC now owns 4,902,125 shares of the company’s stock valued at $360,306,000 after buying an additional 2,577,508 shares during the period. SRS Investment Management LLC purchased a new stake in Datadog during the 1st quarter valued at $95,013,000. Finally, Atreides Management LP purchased a new stake in Datadog during the 1st quarter valued at $93,564,000. Institutional investors own 70.93% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on DDOG shares. The Goldman Sachs Group cut their target price on shares of Datadog from $128.00 to $114.00 and set a “buy” rating on the stock in a research report on Friday, February 17th. Raymond James cut their price target on shares of Datadog from $110.00 to $100.00 and set an “outperform” rating on the stock in a report on Friday, February 17th. Bank of America dropped their target price on shares of Datadog from $120.00 to $110.00 in a research note on Tuesday, February 21st. Canaccord Genuity Group dropped their target price on shares of Datadog from $110.00 to $100.00 and set a “buy” rating on the stock in a research note on Tuesday, February 21st. Finally, DA Davidson started coverage on shares of Datadog in a research note on Wednesday, April 5th. They issued a “neutral” rating and a $70.00 target price on the stock. Seven investment analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company. Based on data from MarketBeat, Datadog has an average rating of “Moderate Buy” and an average target price of $103.00.

Datadog Company Profile

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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.