Datadog, Inc. (NASDAQ:DDOG) CTO Sells $15,247,515.80 in Stock

Datadog, Inc. (NASDAQ:DDOG) CTO Alexis Le-Quoc sold 127,105 shares of the stock in a transaction dated Wednesday, June 4th. The shares were sold at an average price of $119.96, for a total value of $15,247,515.80. Following the completion of the transaction, the chief technology officer now directly owns 452,769 shares in the company, valued at $54,314,169.24. The trade was a 21.92% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link.

Alexis Le-Quoc also recently made the following trade(s):

• On Monday, June 2nd, Alexis Le-Quoc sold 13,766 shares of Datadog stock. The stock was sold at an average price of $116.84, for a total value of $1,608,419.44.
• On Wednesday, May 7th, Alexis Le-Quoc sold 127,105 shares of Datadog stock. The stock was sold at an average price of $105.83, for a total value of $13,451,522.15.
• On Wednesday, March 12th, Alexis Le-Quoc sold 127,105 shares of Datadog stock. The stock was sold at an average price of $102.15, for a total value of $12,983,775.75.

Datadog Stock Up 0.3%

Shares of DDOG opened at $122.16 on Monday. The business has a 50-day simple moving average of $105.14 and a two-hundred day simple moving average of $124.32. Datadog, Inc. has a 12-month low of $81.63 and a 12-month high of $170.08. The stock has a market cap of $42.19 billion, a PE ratio of 239.53, a PEG ratio of 44.03 and a beta of 1.01.

Datadog (NASDAQ:DDOG) last released its quarterly earnings results on Tuesday, May 6th. The company reported $0.46 EPS for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $741.73 million. During the same quarter in the previous year, the company posted $0.44 EPS. The business’s revenue was up 24.6% on a year-over-year basis. On average, equities research analysts expect that Datadog, Inc. will post 0.34 EPS for the current year.

Institutional Investors Weigh In On Datadog

Several institutional investors and hedge funds have recently made changes to their positions in the business. OVERSEA CHINESE BANKING Corp Ltd boosted its holdings in Datadog by 887.0% in the first quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 25,199 shares of the company’s stock worth $25,000 after acquiring an additional 22,646 shares in the last quarter. Cornerstone Planning Group LLC increased its position in shares of Datadog by 96.9% during the first quarter. Cornerstone Planning Group LLC now owns 313 shares of the company’s stock valued at $30,000 after acquiring an additional 154 shares during the last quarter. Costello Asset Management INC purchased a new stake in shares of Datadog during the first quarter valued at approximately $30,000. Putney Financial Group LLC purchased a new stake in Datadog in the fourth quarter worth $32,000. Finally, Elequin Capital LP purchased a new stake in Datadog in the fourth quarter worth $34,000. Institutional investors own 78.29% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on DDOG. Cantor Fitzgerald reiterated an “overweight” rating and set a $134.00 price objective on shares of Datadog in a report on Wednesday, May 7th. Stifel Nicolaus set a $120.00 price objective on Datadog in a research report on Tuesday, May 6th. Scotiabank set a $130.00 price target on shares of Datadog and gave the company an “outperform” rating in a research note on Wednesday, May 7th. Morgan Stanley dropped their price target on Datadog from $143.00 to $115.00 and set an “equal weight” rating for the company in a report on Wednesday, April 16th. Finally, Citigroup cut their target price on Datadog from $170.00 to $165.00 and set a “buy” rating for the company in a research report on Friday, February 14th. Seven investment analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the stock. According to MarketBeat, the company 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.