Datadog (NASDAQ:DDOG) Stock Price Down 5.2% – Should You Sell?

Shares of Datadog, Inc. (NASDAQ:DDOG) fell 5.2% on Friday . The company traded as low as $86.57 and last traded at $89.55. 2,073,467 shares traded hands during trading, a decline of 51% from the average session volume of 4,208,198 shares. The stock had previously closed at $94.47.

Analyst Ratings Changes

Several brokerages have issued reports on DDOG. Wolfe Research lowered Datadog from an “outperform” rating to a “peer perform” rating in a report on Tuesday, February 18th. JMP Securities reissued a “market perform” rating on shares of Datadog in a research report on Friday, February 14th. Barclays lowered their price objective on shares of Datadog from $187.00 to $180.00 and set an “overweight” rating on the stock in a report on Friday, February 14th. 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 report on Monday, December 23rd. Finally, Stifel Nicolaus lowered shares of Datadog from a “buy” rating to a “hold” rating and lowered their target price for the stock from $165.00 to $140.00 in a report on Wednesday, January 29th. 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 stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $157.22.

Datadog Stock Down 6.9 %

The stock has a market cap of $30.14 billion, a PE ratio of 172.42, a P/E/G ratio of 44.03 and a beta of 1.20. The firm has a 50-day simple moving average of $120.58 and a 200-day simple moving average of $130.37.

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

Insider Activity

In related news, CRO Sean Michael Walters sold 8,454 shares of the company’s stock in a transaction 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 completion of the transaction, the executive now directly 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Alexis Le-Quoc sold 127,105 shares of the firm’s stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $102.15, for a total value of $12,983,775.75. Following the sale, the chief technology officer now owns 371,865 shares in the company, valued at $37,986,009.75. The trade was a 25.47 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 601,412 shares of company stock worth $75,444,584 in the last three months. Corporate insiders own 11.78% of the company’s stock.

Hedge Funds Weigh In On Datadog

Several institutional investors have recently modified their holdings of DDOG. Allworth Financial LP boosted its stake in Datadog by 7.7% in the fourth quarter. Allworth Financial LP now owns 1,043 shares of the company’s stock worth $146,000 after buying an additional 75 shares in the last quarter. Spire Wealth Management grew its holdings in shares of Datadog by 21.4% during the 4th quarter. Spire Wealth Management now owns 453 shares of the company’s stock valued at $65,000 after purchasing an additional 80 shares during the last quarter. Avior Wealth Management LLC raised its position in Datadog by 55.9% in the 4th quarter. Avior Wealth Management LLC now owns 226 shares of the company’s stock worth $32,000 after purchasing an additional 81 shares during the period. Farther Finance Advisors LLC lifted its stake in Datadog by 5.2% in the fourth quarter. Farther Finance Advisors LLC now owns 1,853 shares of the company’s stock worth $265,000 after purchasing an additional 92 shares during the last quarter. Finally, Parkside Financial Bank & Trust boosted its position in Datadog by 16.5% during the fourth quarter. Parkside Financial Bank & Trust now owns 663 shares of the company’s stock valued at $95,000 after buying an additional 94 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.