Private Advisor Group LLC Cuts Stake in Datadog, Inc. (NASDAQ:DDOG)

Private Advisor Group LLC cut its position in Datadog, Inc. (NASDAQ:DDOG) by 8.6% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 26,405 shares of the company’s stock after selling 2,469 shares during the period. Private Advisor Group LLC’s holdings in Datadog were worth $3,038,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in DDOG. Vanguard Group Inc. lifted its position in Datadog by 0.6% in the 1st 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 in the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in shares of Datadog by 9.2% during 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 in the last quarter. 1832 Asset Management L.P. lifted its holdings in shares of Datadog by 5.9% during the second quarter. 1832 Asset Management L.P. now owns 2,486,600 shares of the company’s stock valued at $322,487,000 after purchasing an additional 138,700 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its position in shares of 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 buying an additional 172,887 shares during the last quarter. Finally, Kodai Capital Management LP bought a new stake in Datadog in the 1st quarter worth about $116,054,000. Institutional investors own 78.29% of the company’s stock.

Insiders Place Their Bets

In other news, CRO Sean Michael Walters sold 2,322 shares of the company’s stock in a transaction that occurred on Tuesday, October 8th. The stock was sold at an average price of $125.00, for a total transaction of $290,250.00. Following the transaction, the executive now owns 183,512 shares of the company’s stock, valued at approximately $22,939,000. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other Datadog news, CEO Olivier Pomel sold 85,637 shares of the stock in a transaction on Monday, August 5th. The stock was sold at an average price of $104.21, for a total value of $8,924,231.77. Following the sale, the chief executive officer now owns 405,314 shares in the company, valued at $42,237,771.94. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CRO Sean Michael Walters sold 2,322 shares of the business’s stock in a transaction on Tuesday, October 8th. The shares were sold at an average price of $125.00, for a total transaction of $290,250.00. Following the sale, the executive now directly owns 183,512 shares of the company’s stock, valued at $22,939,000. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 529,928 shares of company stock valued at $63,079,091 over the last 90 days. Insiders own 11.78% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Barclays dropped their price target on shares of Datadog from $145.00 to $140.00 and set an “overweight” rating on the stock in a report on Friday, August 9th. Needham & Company LLC decreased their target price on shares of Datadog from $165.00 to $140.00 and set a “buy” rating for the company in a research note on Friday, August 9th. BMO Capital Markets raised their price target on Datadog from $132.00 to $135.00 and gave the stock an “outperform” rating in a research note on Friday. Monness Crespi & Hardt raised Datadog from a “sell” rating to a “neutral” rating in a report on Wednesday, August 7th. Finally, BTIG Research upgraded Datadog from a “neutral” rating to a “buy” rating and set a $143.00 price target for the company in a research note on Thursday, August 1st. One analyst has rated the stock with a sell rating, two have issued a hold rating, twenty-six have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, Datadog currently has an average rating of “Moderate Buy” and an average target price of $142.54.

Datadog Stock Performance

Shares of Datadog stock opened at $126.37 on Tuesday. The stock has a 50 day moving average price of $117.78 and a 200-day moving average price of $119.38. Datadog, Inc. has a one year low of $77.81 and a one year high of $138.61. The stock has a market cap of $42.27 billion, a price-to-earnings ratio of 394.91, a price-to-earnings-growth ratio of 22.85 and a beta of 1.11.

Datadog (NASDAQ:DDOG) last posted its quarterly earnings data on Thursday, August 8th. The company reported $0.43 earnings per share for the quarter, beating analysts’ consensus estimates of $0.37 by $0.06. The business had revenue of $645.28 million for the quarter, compared to analysts’ expectations of $624.92 million. Datadog had a net margin of 6.81% and a return on equity of 9.01%. The business’s revenue was up 26.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.36 earnings per share. Sell-side analysts predict that Datadog, Inc. will post 0.42 earnings per share for the current fiscal year.

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.