ProShare Advisors LLC Sells 32,585 Shares of Datadog, Inc. (NASDAQ:DDOG)

ProShare Advisors LLC reduced its stake in shares of Datadog, Inc. (NASDAQ:DDOG) by 10.8% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 267,906 shares of the company’s stock after selling 32,585 shares during the period. ProShare Advisors LLC owned 0.08% of Datadog worth $34,745,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of DDOG. Dimensional Fund Advisors LP raised its position in Datadog by 12.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 254,076 shares of the company’s stock worth $30,842,000 after purchasing an additional 28,394 shares during the last quarter. Janney Montgomery Scott LLC grew its holdings in Datadog by 373.4% during the 4th quarter. Janney Montgomery Scott LLC now owns 11,172 shares of the company’s stock worth $1,356,000 after acquiring an additional 8,812 shares during the period. Coldstream Capital Management Inc. acquired a new stake in Datadog during the 4th quarter worth about $334,000. Corient Private Wealth LLC grew its holdings in Datadog by 4.9% during the 4th quarter. Corient Private Wealth LLC now owns 10,266 shares of the company’s stock worth $1,246,000 after acquiring an additional 484 shares during the period. Finally, Quest Partners LLC acquired a new stake in Datadog during the 4th quarter worth about $36,000. 78.29% of the stock is owned by institutional investors.

Datadog Stock Down 0.7 %

Datadog stock opened at $114.76 on Monday. Datadog, Inc. has a 52 week low of $77.81 and a 52 week high of $138.61. The company’s 50 day moving average price is $114.64 and its two-hundred day moving average price is $119.56. The stock has a market cap of $38.39 billion, a P/E ratio of 358.63, a P/E/G ratio of 27.84 and a beta of 1.11.

Datadog (NASDAQ:DDOG) last posted its earnings results on Thursday, August 8th. The company reported $0.43 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 firm had revenue of $645.28 million for the quarter, compared to analysts’ expectations of $624.92 million. During the same quarter last year, the firm earned $0.36 EPS. The company’s quarterly revenue was up 26.7% compared to the same quarter last year. On average, equities analysts anticipate that Datadog, Inc. will post 0.41 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on DDOG. Scotiabank decreased their price target on Datadog from $145.00 to $135.00 and set a “sector outperform” rating for the company in a report on Friday, August 9th. Evercore ISI began coverage on Datadog in a report on Monday, July 15th. They set an “outperform” rating and a $150.00 price target for the company. BTIG Research upgraded Datadog from a “neutral” rating to a “buy” rating and set a $143.00 price target for the company in a report on Thursday, August 1st. Cantor Fitzgerald restated an “overweight” rating and issued a $150.00 target price on shares of Datadog in a research note on Monday, July 22nd. Finally, BMO Capital Markets reduced their target price on Datadog from $140.00 to $132.00 and set an “outperform” rating for the company in a research note on Friday, August 9th. Four analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Datadog has an average rating of “Moderate Buy” and a consensus target price of $139.88.

Insiders Place Their Bets

In other Datadog news, CEO Olivier Pomel sold 200,993 shares of Datadog stock in a transaction that occurred on Monday, July 8th. The shares were sold at an average price of $131.01, for a total transaction of $26,332,092.93. Following the transaction, the chief executive officer now owns 324,539 shares of the company’s stock, valued at approximately $42,517,854.39. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, CEO Olivier Pomel sold 200,993 shares of Datadog stock in a transaction that occurred 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 sale, the chief executive officer now owns 324,539 shares of the company’s stock, valued at approximately $42,517,854.39. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Kerry Acocella sold 1,846 shares of Datadog stock in a transaction that occurred on Wednesday, June 26th. The stock was sold at an average price of $120.28, for a total transaction of $222,036.88. Following the completion of the sale, the general counsel now directly owns 80,084 shares in the company, valued at approximately $9,632,503.52. The disclosure for this sale can be found here. Insiders have sold a total of 556,042 shares of company stock valued at $67,802,495 in the last 90 days. 11.78% of the stock is currently owned by corporate insiders.

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.