Datadog (NASDAQ:DDOG) Stock Price Down 0.6% – Should You Sell?

Datadog, Inc. (NASDAQ:DDOG) fell 0.6% on Monday . The stock traded as low as $100.78 and last traded at $100.95. 457,235 shares traded hands during mid-day trading, a decline of 89% from the average session volume of 4,339,256 shares. The stock had previously closed at $101.52.

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. Wells Fargo & Company lowered Datadog from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $152.00 to $140.00 in a report on Thursday, February 13th. Needham & Company LLC reissued a “buy” rating and issued a $160.00 target price on shares of Datadog in a report on Tuesday, March 4th. UBS Group cut their price target on shares of Datadog from $164.00 to $120.00 and set a “buy” rating for the company in a report on Tuesday, April 15th. Stifel Nicolaus cut shares of Datadog from a “buy” rating to a “hold” rating and decreased their price objective for the company from $165.00 to $140.00 in a research note on Wednesday, January 29th. Finally, Wolfe Research cut Datadog from an “outperform” rating to a “peer perform” rating in a research note on Tuesday, February 18th. Seven analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $150.33.

Datadog Stock Down 0.2 %

The firm has a 50 day moving average price of $102.74 and a 200 day moving average price of $127.32. The stock has a market capitalization of $34.72 billion, a PE ratio of 198.36, a P/E/G ratio of 44.03 and a beta of 1.20.

Datadog (NASDAQ:DDOG) last issued its quarterly earnings data on Thursday, February 13th. The company reported $0.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.31). Datadog had a return on equity of 8.28% and a net margin of 6.85%. On average, equities analysts forecast that Datadog, Inc. will post 0.34 earnings per share for the current fiscal year.

Insider Buying and Selling at Datadog

In related news, CTO Alexis Le-Quoc sold 127,105 shares of Datadog stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $102.15, for a total transaction of $12,983,775.75. Following the completion of the sale, the chief technology officer now owns 371,865 shares of the company’s stock, valued at approximately $37,986,009.75. This trade represents a 25.47 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Olivier Pomel sold 107,365 shares of the stock in a transaction on Friday, March 7th. The stock was sold at an average price of $109.56, for a total transaction of $11,762,909.40. Following the completion of the transaction, the chief executive officer now directly owns 435,793 shares in the company, valued at $47,745,481.08. The trade was a 19.77 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 512,561 shares of company stock worth $57,166,767 in the last quarter. 11.78% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in DDOG. Krane Funds Advisors LLC lifted its stake in Datadog by 121.3% during the first quarter. Krane Funds Advisors LLC now owns 3,881 shares of the company’s stock worth $385,000 after purchasing an additional 2,127 shares during the last quarter. Keybank National Association OH raised its holdings in shares of Datadog by 36.6% during the 1st quarter. Keybank National Association OH now owns 13,323 shares of the company’s stock valued at $1,322,000 after buying an additional 3,567 shares in the last quarter. DAVENPORT & Co LLC lifted its position in Datadog by 56.6% in the 1st quarter. DAVENPORT & Co LLC now owns 6,058 shares of the company’s stock worth $601,000 after buying an additional 2,190 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd boosted its stake in Datadog by 21.3% in the first quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 76,588 shares of the company’s stock worth $7,598,000 after buying an additional 13,474 shares in the last quarter. Finally, Vontobel Holding Ltd. grew its position in Datadog by 13.7% during the first quarter. Vontobel Holding Ltd. now owns 189,683 shares of the company’s stock valued at $18,818,000 after acquiring an additional 22,885 shares during the last quarter. 78.29% of the stock is currently owned by hedge funds and other institutional investors.

Datadog Company Profile

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.