Datadog (NASDAQ:DDOG) Trading Down 3.5% Following Insider Selling

Posted by Defense World Staff on Jun 8th, 2023

Datadog, Inc. (NASDAQ:DDOG – Get Rating) shares were down 3.5% on Wednesday following insider selling activity. The company traded as low as $96.92 and last traded at $98.30. Approximately 1,786,025 shares were traded during trading, a decline of 66% from the average daily volume of 5,301,752 shares. The stock had previously closed at $101.85.

Specifically, CTO Alexis Le-Quoc sold 71,364 shares of the company’s stock in a transaction dated Tuesday, June 6th. The stock was sold at an average price of $102.09, for a total transaction of $7,285,550.76. Following the transaction, the chief technology officer now directly owns 274,889 shares of the company’s stock, valued at approximately $28,063,418.01. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Datadog news, CEO Olivier Pomel sold 85,637 shares of the firm’s stock in a transaction on Monday, April 10th. The shares were sold at an average price of $65.30, for a total value of $5,592,096.10. Following the completion of the transaction, the chief executive officer now owns 268,131 shares of the company’s stock, valued at $17,508,954.30. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CTO Alexis Le-Quoc sold 71,364 shares of Datadog stock in a transaction dated Tuesday, June 6th. The stock was sold at an average price of $102.09, for a total value of $7,285,550.76. Following the sale, the chief technology officer now directly owns 274,889 shares of the company’s stock, valued at approximately $28,063,418.01. The disclosure for this sale can be found here. Over the last three months, insiders have sold 695,545 shares of company stock valued at $55,761,526. 14.97% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

DDOG has been the topic of a number of recent research reports. Rosenblatt Securities reiterated a “buy” rating and issued a $105.00 target price on shares of Datadog in a research report on Thursday, March 9th. Piper Sandler began coverage on shares of Datadog in a research report on Tuesday, April 18th. They set a “neutral” rating and a $72.00 target price for the company. Stifel Nicolaus upped their price target on shares of Datadog from $85.00 to $101.00 in a report on Wednesday, May 24th. Needham & Company LLC reissued a “buy” rating and issued a $105.00 price objective on shares of Datadog in a report on Friday, March 31st. Finally, William Blair reaffirmed an “outperform” rating on shares of Datadog in a report on Friday, May 5th. Seven analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $103.00.

Datadog Stock Performance

The stock has a 50-day moving average of $78.96 and a 200 day moving average of $75.61. The stock has a market cap of $30.12 billion, a PE ratio of -346.62 and a beta of 0.95. The company has a quick ratio of 3.19, a current ratio of 3.19 and a debt-to-equity ratio of 0.49.

Datadog (NASDAQ:DDOG – Get Rating) last announced its quarterly earnings data on Thursday, May 4th. The company reported ($0.07) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $481.71 million during the quarter, compared to analysts’ expectations of $468.29 million. Equities analysts predict that Datadog, Inc. will post -0.15 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Ontario Teachers Pension Plan Board raised its stake in shares of Datadog by 52.6% in the 1st quarter. Ontario Teachers Pension Plan Board now owns 10,506 shares of the company’s stock valued at $763,000 after acquiring an additional 3,621 shares during the period. Prelude Capital Management LLC lifted its stake in Datadog by 52.9% during the first quarter. Prelude Capital Management LLC now owns 6,330 shares of the company’s stock worth $460,000 after purchasing an additional 2,191 shares in the last quarter. ProShare Advisors LLC boosted its position in shares of Datadog by 8.2% during the first quarter. ProShare Advisors LLC now owns 246,160 shares of the company’s stock worth $17,886,000 after buying an additional 18,555 shares during the period. Toroso Investments LLC boosted its position in shares of Datadog by 5.6% during the first quarter. Toroso Investments LLC now owns 10,637 shares of the company’s stock worth $773,000 after buying an additional 563 shares during the period. Finally, Nellore Capital Management LLC acquired a new stake in shares of Datadog in the first quarter valued at $727,000. Institutional investors and hedge funds own 70.93% of the company’s stock.

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.