Ensign Peak Advisors Inc Cuts Holdings in Datadog, Inc. (NASDAQ:DDOG)

Ensign Peak Advisors Inc reduced its position in Datadog, Inc. (NASDAQ:DDOG) by 13.7% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,008,539 shares of the company’s stock after selling 159,442 shares during the period. Ensign Peak Advisors Inc owned about 0.30% of Datadog worth $130,797,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of DDOG. Riverview Trust Co purchased a new position in Datadog in the 1st quarter valued at approximately $26,000. SouthState Corp acquired a new stake in Datadog during the 2nd quarter valued at $26,000. Raleigh Capital Management Inc. acquired a new stake in Datadog during the 4th quarter valued at $29,000. Jones Financial Companies Lllp acquired a new stake in Datadog during the 4th quarter valued at $33,000. Finally, Quest Partners LLC acquired a new stake in Datadog during the 4th quarter valued at $36,000. 78.29% of the stock is owned by hedge funds and other institutional investors.

Datadog Stock Down 0.7 %

Shares of DDOG stock opened at $114.76 on Friday. The business has a 50 day moving average of $114.64 and a two-hundred day moving average of $119.62. Datadog, Inc. has a 52 week low of $77.81 and a 52 week high of $138.61. The company has a market cap of $38.39 billion, a P/E ratio of 358.63, a PEG ratio of 27.84 and a beta of 1.11.

Datadog (NASDAQ:DDOG) last issued its earnings results on Thursday, August 8th. The company reported $0.43 EPS for the quarter, beating analysts’ consensus estimates of $0.37 by $0.06. Datadog had a return on equity of 9.01% and a net margin of 6.81%. The company had revenue of $645.28 million during the quarter, compared to the consensus estimate of $624.92 million. During the same period in the previous year, the firm posted $0.36 earnings per share. Datadog’s quarterly revenue was up 26.7% compared to the same quarter last year. Analysts expect that Datadog, Inc. will post 0.41 EPS for the current fiscal year.

Insider Transactions at Datadog

In related news, CEO Olivier Pomel sold 200,993 shares of the business’s stock in a transaction that occurred on Monday, July 8th. The stock was sold at an average price of $131.01, for a total transaction of $26,332,092.93. Following the sale, the chief executive officer now owns 324,539 shares of the company’s stock, valued at $42,517,854.39. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Datadog news, CEO Olivier Pomel sold 200,993 shares of the company’s stock in a transaction on Monday, July 8th. The stock was sold at an average price of $131.01, for a total value of $26,332,092.93. Following the transaction, the chief executive officer now owns 324,539 shares of the company’s stock, valued at $42,517,854.39. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CTO Alexis Le-Quoc sold 127,105 shares of the company’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $130.75, for a total value of $16,618,978.75. Following the completion of the transaction, the chief technology officer now directly owns 279,025 shares in the company, valued at approximately $36,482,518.75. The disclosure for this sale can be found here. Over the last three months, insiders sold 561,997 shares of company stock worth $68,517,631. Company insiders own 11.78% of the company’s stock.

Wall Street Analyst Weigh In

DDOG has been the topic of several analyst reports. BMO Capital Markets decreased their price objective on Datadog from $140.00 to $132.00 and set an “outperform” rating on the stock in a report on Friday, August 9th. Monness Crespi & Hardt upgraded Datadog from a “sell” rating to a “neutral” rating in a report on Wednesday, August 7th. Mizuho upgraded Datadog from a “neutral” rating to an “outperform” rating and raised their price objective for the stock from $135.00 to $155.00 in a report on Tuesday, July 16th. Cantor Fitzgerald restated an “overweight” rating and set a $150.00 price objective on shares of Datadog in a report on Monday, July 22nd. Finally, Wedbush restated an “outperform” rating and set a $155.00 price objective on shares of Datadog in a report on Friday, August 9th. Four equities research analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Datadog currently has an average rating of “Moderate Buy” and a consensus target price of $139.88.

Datadog Company Profile

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.