Datadog (NASDAQ:DDOG) Stock Price Down 7.9% – Here’s Why

Datadog, Inc. (NASDAQ:DDOG)’s share price traded down 7.9% during mid-day trading on Thursday . The company traded as low as $93.53 and last traded at $93.63. 1,629,875 shares changed hands during mid-day trading, a decline of 61% from the average session volume of 4,192,519 shares. The stock had previously closed at $101.71.

Wall Street Analyst Weigh In

Several brokerages have recently commented on DDOG. Wolfe Research cut shares of Datadog from an “outperform” rating to a “peer perform” rating in a research report on Tuesday, February 18th. Cantor Fitzgerald started coverage on Datadog in a research report on Friday, January 17th. They issued an “overweight” rating and a $180.00 target price for the company. Macquarie reiterated an “outperform” rating and issued a $200.00 price target on shares of Datadog in a report on Tuesday, February 11th. Needham & Company LLC restated a “buy” rating and set a $160.00 price objective on shares of Datadog in a research note on Tuesday, March 4th. Finally, Truist Financial lowered their target price on shares of Datadog from $140.00 to $120.00 and set a “hold” rating for the company in a research note on Monday, March 31st. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, twenty-one have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $157.22.

Datadog Stock Performance

The stock has a market cap of $30.14 billion, a price-to-earnings ratio of 172.42, a PEG ratio of 44.03 and a beta of 1.20. The company’s 50 day simple moving average is $119.52 and its 200 day simple moving average is $130.21.

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

Insider Activity

In other Datadog news, CRO Sean Michael Walters sold 8,454 shares of Datadog stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $102.04, for a total value of $862,646.16. Following the transaction, the executive now owns 185,871 shares in the company, valued at approximately $18,966,276.84. The trade was a 4.35 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Shardul Shah sold 7,916 shares of the stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $142.12, for a total value of $1,125,021.92. Following the sale, the director now owns 427,785 shares of the company’s stock, valued at $60,796,804.20. This trade represents a 1.82 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 601,412 shares of company stock worth $75,444,584 over the last 90 days. 11.78% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Datadog

Institutional investors and hedge funds have recently modified their holdings of the stock. Proficio Capital Partners LLC acquired a new stake in Datadog during the 4th quarter worth about $14,884,000. ARK Investment Management LLC raised its holdings in shares of Datadog by 62.7% during the fourth quarter. ARK Investment Management LLC now owns 127,290 shares of the company’s stock valued at $18,188,000 after acquiring an additional 49,050 shares during the period. Y Intercept Hong Kong Ltd lifted its position in shares of Datadog by 140.1% in the 4th quarter. Y Intercept Hong Kong Ltd now owns 53,116 shares of the company’s stock valued at $7,590,000 after acquiring an additional 30,998 shares in the last quarter. Baillie Gifford & Co. lifted its position in shares of Datadog by 15.8% in the 4th quarter. Baillie Gifford & Co. now owns 10,905,133 shares of the company’s stock valued at $1,558,234,000 after acquiring an additional 1,484,562 shares in the last quarter. Finally, Cullen Frost Bankers Inc. grew its position in Datadog by 3.5% during the 4th quarter. Cullen Frost Bankers Inc. now owns 72,489 shares of the company’s stock worth $10,358,000 after purchasing an additional 2,451 shares in the last quarter. 78.29% of the stock is owned by institutional investors and hedge funds.

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.