Hsbc Holdings PLC Sells 207,960 Shares of Datadog, Inc. (NASDAQ:DDOG)

Hsbc Holdings PLC reduced its stake in Datadog, Inc. (NASDAQ:DDOG) by 43.3% during the second quarter, according to its most recent filing with the SEC. The fund owned 272,399 shares of the company’s stock after selling 207,960 shares during the quarter. Hsbc Holdings PLC owned 0.08% of Datadog worth $35,243,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in DDOG. Vanguard Group Inc. boosted its stake in Datadog by 0.6% in the first quarter. Vanguard Group Inc. now owns 27,431,107 shares of the company’s stock valued at $3,390,485,000 after acquiring an additional 171,693 shares during the last quarter. Sands Capital Management LLC raised its holdings in shares of Datadog by 3.7% in the 4th quarter. Sands Capital Management LLC now owns 4,564,776 shares of the company’s stock worth $554,073,000 after purchasing an additional 162,108 shares during the period. Massachusetts Financial Services Co. MA lifted its stake in Datadog by 9.2% in the second quarter. Massachusetts Financial Services Co. MA now owns 3,944,943 shares of the company’s stock valued at $511,620,000 after purchasing an additional 331,808 shares during the last quarter. 1832 Asset Management L.P. lifted its stake in Datadog by 47.9% in the fourth quarter. 1832 Asset Management L.P. now owns 2,619,500 shares of the company’s stock valued at $317,955,000 after purchasing an additional 848,000 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC grew its holdings in Datadog by 19.3% during the second quarter. Allspring Global Investments Holdings LLC now owns 1,068,070 shares of the company’s stock valued at $138,518,000 after purchasing an additional 172,887 shares during the period. Institutional investors own 78.29% of the company’s stock.

Datadog Price Performance

DDOG stock opened at $114.76 on Friday. The firm has a 50 day simple moving average of $114.64 and a two-hundred day simple moving average of $119.62. The stock has a market cap of $38.39 billion, a PE ratio of 358.63, a P/E/G ratio of 27.84 and a beta of 1.11. Datadog, Inc. has a one year low of $77.81 and a one year high of $138.61.

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

Insider Activity

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 value of $26,332,092.93. Following the completion of the sale, the chief executive officer now owns 324,539 shares in the company, valued at approximately $42,517,854.39. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO Olivier Pomel sold 200,993 shares of Datadog stock in a transaction on Monday, July 8th. The shares were 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 in the company, valued at approximately $42,517,854.39. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, General Counsel Kerry Acocella sold 5,955 shares of the business’s stock in a transaction on Monday, June 24th. The stock was sold at an average price of $120.09, for a total transaction of $715,135.95. Following the completion of the sale, the general counsel now directly owns 85,787 shares of the company’s stock, valued at $10,302,160.83. The disclosure for this sale can be found here. In the last three months, insiders have sold 561,997 shares of company stock worth $68,517,631. 11.78% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several brokerages have issued reports on DDOG. Scotiabank lowered their target price on Datadog from $145.00 to $135.00 and set a “sector outperform” rating on the stock in a research note on Friday, August 9th. Monness Crespi & Hardt raised shares of Datadog from a “sell” rating to a “neutral” rating in a report on Wednesday, August 7th. Mizuho upgraded shares of Datadog from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $135.00 to $155.00 in a research report on Tuesday, July 16th. BMO Capital Markets lowered their price target on shares of Datadog from $140.00 to $132.00 and set an “outperform” rating on the stock in a research report on Friday, August 9th. Finally, Bank of America raised shares of Datadog from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $143.00 to $155.00 in a report on Thursday, May 30th. Four investment analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Datadog presently has an average rating of “Moderate Buy” and an average price target of $139.88.

Datadog 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.