Profund Advisors LLC Sells 1,336 Shares of Datadog, Inc. (NASDAQ:DDOG)

Profund Advisors LLC trimmed its stake in shares of Datadog, Inc. (NASDAQ:DDOG) by 3.4% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 38,142 shares of the company’s stock after selling 1,336 shares during the quarter. Profund Advisors LLC’s holdings in Datadog were worth $4,947,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in DDOG. Riverview Trust Co bought a new stake in shares of Datadog during the 1st quarter valued at $26,000. SouthState Corp bought a new stake in shares of Datadog during the 2nd quarter valued at $26,000. Raleigh Capital Management Inc. bought a new stake in shares of Datadog during the 4th quarter valued at $29,000. Jones Financial Companies Lllp bought a new stake in shares of Datadog during the 4th quarter valued at $33,000. Finally, Quest Partners LLC bought a new position in Datadog in the 4th quarter worth about $36,000. 78.29% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Datadog

In other news, Director Matthew Jacobson sold 9,256 shares of the stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $108.05, for a total value of $1,000,110.80. Following the completion of the transaction, the director now owns 48,411 shares of the company’s stock, valued at approximately $5,230,808.55. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO Olivier Pomel sold 200,993 shares of the 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 transaction, the chief executive officer now owns 324,539 shares of the company’s stock, valued at approximately $42,517,854.39. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Matthew Jacobson sold 9,256 shares of the stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $108.05, for a total value of $1,000,110.80. Following the completion of the transaction, the director now directly owns 48,411 shares of the company’s stock, valued at approximately $5,230,808.55. The disclosure for this sale can be found here. Insiders sold 561,997 shares of company stock valued at $68,517,631 in the last 90 days. Insiders own 11.78% of the company’s stock.

Datadog Price Performance

DDOG opened at $114.76 on Friday. The business has a 50 day simple moving average of $114.64 and a two-hundred day simple moving average of $119.60. The firm has a market capitalization of $38.39 billion, a price-to-earnings ratio of 358.63, a PEG 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 released its quarterly 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. The business had revenue of $645.28 million during the quarter, compared to analyst estimates of $624.92 million. Datadog had a return on equity of 9.01% and a net margin of 6.81%. Datadog’s quarterly revenue was up 26.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.36 EPS. As a group, sell-side analysts expect that Datadog, Inc. will post 0.41 EPS for the current fiscal year.

Wall Street Analyst Weigh In

DDOG has been the topic of a number of research analyst reports. Bank of America upgraded Datadog from a “neutral” rating to a “buy” rating and upped their target price for the stock from $143.00 to $155.00 in a research note on Thursday, May 30th. Monness Crespi & Hardt upgraded Datadog from a “sell” rating to a “neutral” rating in a research note on Wednesday, August 7th. Royal Bank of Canada restated an “outperform” rating and issued a $151.00 target price on shares of Datadog in a research note on Friday, August 9th. Wedbush restated an “outperform” rating and issued a $155.00 target price on shares of Datadog in a research note on Friday, August 9th. Finally, Loop Capital reiterated a “buy” rating and issued a $160.00 price objective on shares of Datadog in a report on Friday, July 5th. Four investment analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Datadog has a consensus rating of “Moderate Buy” and a consensus target price 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.