Kayne Anderson Rudnick Investment Management LLC Sells 12,406 Shares of Datadog, Inc. (NASDAQ:DDOG)

Kayne Anderson Rudnick Investment Management LLC reduced its stake in Datadog, Inc. (NASDAQ:DDOG) by 3.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 339,274 shares of the company’s stock after selling 12,406 shares during the period. Kayne Anderson Rudnick Investment Management LLC owned 0.10% of Datadog worth $44,000,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Riverview Trust Co acquired a new position in Datadog in the 1st quarter valued at about $26,000. SouthState Corp bought a new stake in shares of Datadog during the second quarter worth approximately $26,000. Raleigh Capital Management Inc. acquired a new position in shares of Datadog in the fourth quarter valued at approximately $29,000. Jones Financial Companies Lllp bought a new position in shares of Datadog during the fourth quarter worth approximately $33,000. Finally, Quest Partners LLC acquired a new stake in Datadog during the 4th quarter worth approximately $36,000. 78.29% of the stock is owned by institutional investors.

Insider Activity

In other news, CTO Alexis Le-Quoc sold 127,105 shares of the company’s stock in a transaction that occurred on Monday, July 1st. The stock was 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 owns 279,025 shares of the company’s stock, valued at $36,482,518.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, CTO Alexis Le-Quoc sold 127,105 shares of Datadog stock in a transaction on Monday, July 1st. The shares were sold at an average price of $130.75, for a total transaction of $16,618,978.75. Following the transaction, the chief technology officer now owns 279,025 shares in the company, valued at $36,482,518.75. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Matthew Jacobson sold 9,256 shares of the stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $108.05, for a total value of $1,000,110.80. Following the completion of the sale, the director now owns 48,411 shares of the company’s stock, valued at $5,230,808.55. The disclosure for this sale can be found here. Over the last three months, insiders have sold 561,997 shares of company stock valued at $68,517,631. 11.78% of the stock is currently owned by corporate insiders.

Datadog Price Performance

Shares of NASDAQ:DDOG opened at $114.76 on Friday. Datadog, Inc. has a one year low of $77.81 and a one year high of $138.61. The company has a market cap of $38.39 billion, a price-to-earnings ratio of 358.63, a PEG ratio of 27.84 and a beta of 1.11. The firm has a 50 day simple moving average of $114.64 and a 200 day simple moving average of $119.60.

Datadog (NASDAQ:DDOG) last released its quarterly earnings data on Thursday, August 8th. The company reported $0.43 earnings per share for the quarter, beating the consensus estimate of $0.37 by $0.06. The company had revenue of $645.28 million for the quarter, compared to the consensus estimate of $624.92 million. Datadog had a return on equity of 9.01% and a net margin of 6.81%. Datadog’s revenue for the quarter was up 26.7% on a year-over-year basis. During the same quarter last year, the business posted $0.36 EPS. As a group, analysts expect that Datadog, Inc. will post 0.41 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts have commented on the company. Mizuho raised Datadog from a “neutral” rating to an “outperform” rating and upped their price objective for the company from $135.00 to $155.00 in a report on Tuesday, July 16th. BTIG Research upgraded shares of Datadog from a “neutral” rating to a “buy” rating and set a $143.00 price target on the stock in a research note on Thursday, August 1st. Scotiabank lowered their price target on shares of Datadog from $145.00 to $135.00 and set a “sector outperform” rating on the stock in a research report on Friday, August 9th. Loop Capital reissued a “buy” rating and issued a $160.00 price objective on shares of Datadog in a report on Friday, July 5th. Finally, Needham & Company LLC decreased their target price on shares of Datadog from $165.00 to $140.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. Four analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $139.88.

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.