Insider Selling: Datadog, Inc. (NASDAQ:DDOG) CEO Sells $1,779,122.68 in Stock

Datadog, Inc. (NASDAQ:DDOG) CEO Olivier Pomel sold 15,227 shares of the stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $116.84, for a total transaction of $1,779,122.68. Following the transaction, the chief executive officer now owns 548,715 shares of the company’s stock, valued at $64,111,860.60. The trade was a 2.70% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Olivier Pomel also recently made the following trade(s):

• On Monday, April 7th, Olivier Pomel sold 107,365 shares of Datadog stock. The stock was sold at an average price of $87.33, for a total transaction of $9,376,185.45.
• On Friday, March 7th, Olivier Pomel sold 107,365 shares of Datadog stock. The stock was sold at an average price of $109.56, for a total transaction of $11,762,909.40.

Datadog Stock Performance

NASDAQ:DDOG opened at $122.16 on Friday. Datadog, Inc. has a 52 week low of $81.63 and a 52 week high of $170.08. The firm has a market cap of $42.19 billion, a price-to-earnings ratio of 239.53, a P/E/G ratio of 44.03 and a beta of 1.12. The firm’s 50-day simple moving average is $105.14 and its 200 day simple moving average is $124.53.

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

Hedge Funds Weigh In On Datadog

Hedge funds have recently bought and sold shares of the business. Putney Financial Group LLC bought a new position in Datadog during the fourth quarter worth about $32,000. Elequin Capital LP bought a new position in Datadog in the 4th quarter valued at about $34,000. Coppell Advisory Solutions LLC increased its holdings in Datadog by 178.8% in the 4th quarter. Coppell Advisory Solutions LLC now owns 276 shares of the company’s stock valued at $40,000 after buying an additional 177 shares during the period. Costello Asset Management INC bought a new position in Datadog in the 1st quarter valued at about $30,000. Finally, Summit Securities Group LLC bought a new position in Datadog in the 4th quarter valued at about $43,000. 78.29% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. UBS Group increased their target price on shares of Datadog from $120.00 to $125.00 and gave the stock a “buy” rating in a report on Wednesday, May 7th. Needham & Company LLC dropped their price target on shares of Datadog from $160.00 to $130.00 and set a “buy” rating on the stock in a research report on Wednesday, May 7th. Wedbush dropped their price target on shares of Datadog from $155.00 to $140.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 7th. Rosenblatt Securities dropped their price target on shares of Datadog from $160.00 to $150.00 and set a “buy” rating on the stock in a research report on Monday, May 5th. Finally, Stifel Nicolaus set a $120.00 price target on shares of Datadog in a research report on Tuesday, May 6th. Seven analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company. According to MarketBeat, Datadog currently has a consensus rating of “Moderate Buy” and a consensus 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.