Datadog (NASDAQ:DDOG) Trading 0.9% Higher – Still a Buy?

Datadog, Inc. (NASDAQ:DDOG)’s stock price traded up 0.9% on Tuesday . The company traded as high as $100.70 and last traded at $100.11. 1,472,704 shares were traded during trading, a decline of 65% from the average session volume of 4,178,602 shares. The stock had previously closed at $99.21.

Wall Street Analysts Forecast Growth

DDOG has been the topic of a number of research analyst reports. JMP Securities reissued a “market perform” rating on shares of Datadog in a research report on Friday, February 14th. DA Davidson boosted their price target on shares of Datadog from $150.00 to $165.00 and gave the stock a “buy” rating in a research note on Monday, February 10th. Jefferies Financial Group dropped their price objective on shares of Datadog from $170.00 to $150.00 and set a “buy” rating for the company in a report on Monday. Royal Bank of Canada boosted their price target on shares of Datadog from $151.00 to $170.00 and gave the stock an “outperform” rating in a research note on Friday, January 3rd. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $160.00 price objective on shares of Datadog in a research note on Tuesday, March 4th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, twenty-one have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $157.22.

Datadog Stock Performance

The company has a market capitalization of $33.03 billion, a PE ratio of 188.86, a PEG ratio of 44.03 and a beta of 1.22. The company has a 50 day moving average price of $121.49 and a 200 day moving average price of $130.62.

Datadog (NASDAQ:DDOG) last announced its quarterly earnings data on Thursday, February 13th. The company reported $0.13 earnings per share 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%. On average, equities analysts forecast that Datadog, Inc. will post 0.34 earnings per share for the current fiscal year.

Insider Activity

In related news, CTO Alexis Le-Quoc sold 127,105 shares of Datadog stock in a transaction dated Wednesday, January 8th. The shares were sold at an average price of $141.21, for a total transaction of $17,948,497.05. Following the sale, the chief technology officer now directly owns 324,778 shares in the company, valued at $45,861,901.38. The trade was a 28.13 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Shardul Shah sold 7,916 shares of the stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $142.12, for a total transaction of $1,125,021.92. Following the completion of the transaction, the director now owns 427,785 shares of the company’s stock, valued at $60,796,804.20. This represents a 1.82 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 601,412 shares of company stock valued at $75,444,584. Insiders own 11.78% of the company’s stock.

Institutional Trading of Datadog

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its position in Datadog by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 30,354,229 shares of the company’s stock worth $4,337,316,000 after purchasing an additional 220,527 shares during the period. Baillie Gifford & Co. lifted its holdings in 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 during the last quarter. Jennison Associates LLC lifted its stake in Datadog by 47.9% during the fourth quarter. Jennison Associates LLC now owns 9,278,648 shares of the company’s stock valued at $1,325,826,000 after purchasing an additional 3,005,300 shares during the last quarter. Groupama Asset Managment raised its holdings in shares of Datadog by 407.6% during the fourth quarter. Groupama Asset Managment now owns 6,600,000 shares of the company’s stock valued at $943,074,000 after acquiring an additional 5,299,688 shares during the period. Finally, Geode Capital Management LLC increased its holdings in shares of Datadog by 9.6% in the 4th quarter. Geode Capital Management LLC now owns 5,684,612 shares of the company’s stock valued at $811,076,000 after purchasing an additional 499,055 shares during the period. 78.29% of the stock is currently owned by institutional investors.

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.