Datadog (NASDAQ:DDOG) Trading Down 7.9% – Here’s What Happened

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

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. Wolfe Research lowered Datadog from an “outperform” rating to a “peer perform” rating in a research note on Tuesday, February 18th. Jefferies Financial Group cut their target price on shares of Datadog from $170.00 to $150.00 and set a “buy” rating on the stock in a research note on Monday. Mizuho boosted their price objective on Datadog from $155.00 to $170.00 and gave the company an “outperform” rating in a research report on Friday, December 13th. Loop Capital lifted their price objective on shares of Datadog from $160.00 to $200.00 and gave the company a “buy” rating in a research note on Monday, December 23rd. Finally, Rosenblatt Securities lifted their price objective on shares of Datadog from $148.00 to $160.00 and gave the stock a “buy” rating in a research note on Wednesday, February 12th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, twenty-one have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $157.22.

Datadog Stock Down 7.1 %

The company has a 50 day simple moving average of $121.49 and a 200 day simple moving average of $130.62. The company has a market capitalization of $32.38 billion, a price-to-earnings ratio of 185.24, a price-to-earnings-growth ratio of 44.03 and a beta of 1.22.

Datadog (NASDAQ:DDOG) last posted its quarterly earnings results 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 return on equity of 8.28% and a net margin of 6.85%. On average, research analysts forecast that Datadog, Inc. will post 0.34 EPS for the current fiscal year.

Insider Buying and Selling

In other Datadog news, CTO Alexis Le-Quoc sold 127,105 shares of the firm’s 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 transaction, the chief technology officer now owns 324,778 shares of the company’s stock, valued at approximately $45,861,901.38. This trade represents a 28.13 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Amit Agarwal sold 25,000 shares of the stock in a transaction on Wednesday, January 8th. The shares were sold at an average price of $141.12, for a total value of $3,528,000.00. Following the sale, the director now owns 195,667 shares of the company’s stock, valued at $27,612,527.04. This trade represents a 11.33 % decrease in their position. The disclosure for this sale can be found here. In 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.

Hedge Funds Weigh In On Datadog

Several large investors have recently bought and sold shares of the stock. Proficio Capital Partners LLC bought a new position in shares of Datadog during the fourth quarter valued at $14,884,000. ARK Investment Management LLC grew its holdings in Datadog by 62.7% during the 4th quarter. ARK Investment Management LLC now owns 127,290 shares of the company’s stock worth $18,188,000 after acquiring an additional 49,050 shares during the period. Y Intercept Hong Kong Ltd raised 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 during the period. Baillie Gifford & Co. lifted its holdings in Datadog by 15.8% during the fourth quarter. Baillie Gifford & Co. now owns 10,905,133 shares of the company’s stock worth $1,558,234,000 after acquiring an additional 1,484,562 shares in the last quarter. Finally, Atom Investors LP acquired a new position in shares of Datadog in the third quarter valued at approximately $1,112,000. 78.29% of the stock is currently 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.