Datadog, Inc. (NASDAQ:DDOG) General Counsel Kerry Acocella Sells 5,099 Shares

Datadog, Inc. (NASDAQ:DDOG) General Counsel Kerry Acocella sold 5,099 shares of the company’s stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $116.84, for a total value of $595,767.16. Following the completion of the transaction, the general counsel now owns 115,490 shares in the company, valued at $13,493,851.60. This represents a 4.23% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Datadog Stock Performance

NASDAQ DDOG opened at $119.70 on Thursday. Datadog, Inc. has a fifty-two week low of $81.63 and a fifty-two week high of $170.08. The stock has a 50 day simple moving average of $104.27 and a two-hundred day simple moving average of $124.64. The stock has a market cap of $41.34 billion, a P/E ratio of 234.71, a price-to-earnings-growth ratio of 44.03 and a beta of 1.12.

Datadog (NASDAQ:DDOG) last announced its earnings results on Tuesday, May 6th. The company reported $0.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.42 by $0.04. Datadog had a return on equity of 8.28% and a net margin of 6.85%. The firm had revenue of $761.55 million during the quarter, compared to analyst estimates of $741.73 million. During the same quarter in the prior year, the company earned $0.44 EPS. The business’s revenue was up 24.6% compared to the same quarter last year. Sell-side analysts predict that Datadog, Inc. will post 0.34 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. raised its position in shares of Datadog by 3.5% in the 1st quarter. Vanguard Group Inc. now owns 31,413,032 shares of the company’s stock worth $3,116,487,000 after acquiring an additional 1,058,803 shares in the last quarter. Baillie Gifford & Co. increased its position in Datadog by 12.6% during the 1st quarter. Baillie Gifford & Co. now owns 12,274,655 shares of the company’s stock valued at $1,217,769,000 after buying an additional 1,369,522 shares in the last quarter. Goldman Sachs Group Inc. increased its position in Datadog by 259.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 8,658,340 shares of the company’s stock valued at $858,994,000 after buying an additional 6,250,942 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in Datadog by 23.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 6,729,254 shares of the company’s stock valued at $667,611,000 after buying an additional 1,261,065 shares in the last quarter. Finally, Groupama Asset Managment increased its position in Datadog by 407.6% during the 4th quarter. Groupama Asset Managment now owns 6,600,000 shares of the company’s stock valued at $943,074,000 after buying an additional 5,299,688 shares in the last quarter. Institutional investors own 78.29% of the company’s stock.

Wall Street Analyst Weigh In

DDOG has been the topic of a number of research analyst reports. JMP Securities restated a “market perform” rating on shares of Datadog in a research note on Friday, February 14th. Barclays upped their price objective on Datadog from $125.00 to $128.00 and gave the stock an “overweight” rating in a report on Tuesday, May 6th. Stifel Nicolaus set a $120.00 price objective on Datadog in a report on Tuesday, May 6th. Needham & Company LLC cut their price objective on Datadog from $160.00 to $130.00 and set a “buy” rating for the company in a report on Wednesday, May 7th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $119.00 price objective on shares of Datadog in a report on Wednesday, May 7th. Seven investment analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $141.04.

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.