Intech Investment Management LLC Reduces Stock Position in Datadog, Inc. (NASDAQ:DDOG)

Intech Investment Management LLC decreased its holdings in shares of Datadog, Inc. (NASDAQ:DDOG) by 8.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 14,015 shares of the company’s stock after selling 1,329 shares during the quarter. Intech Investment Management LLC’s holdings in Datadog were worth $1,818,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the stock. Seven Eight Capital LP raised its stake in shares of Datadog by 16.0% during the 2nd quarter. Seven Eight Capital LP now owns 27,823 shares of the company’s stock valued at $3,608,000 after purchasing an additional 3,842 shares during the period. Elo Mutual Pension Insurance Co lifted its holdings in shares of Datadog by 1.2% in the second quarter. Elo Mutual Pension Insurance Co now owns 25,264 shares of the company’s stock worth $3,276,000 after buying an additional 305 shares in the last quarter. Blair William & Co. IL boosted its position in shares of Datadog by 6.0% in the second quarter. Blair William & Co. IL now owns 33,241 shares of the company’s stock valued at $4,311,000 after acquiring an additional 1,869 shares during the period. Vanguard Personalized Indexing Management LLC grew its stake in Datadog by 3.3% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 15,423 shares of the company’s stock valued at $1,999,000 after acquiring an additional 486 shares in the last quarter. Finally, Amalgamated Bank increased its holdings in Datadog by 6.5% during the 2nd quarter. Amalgamated Bank now owns 20,202 shares of the company’s stock worth $2,620,000 after acquiring an additional 1,236 shares during the period. Hedge funds and other institutional investors own 78.29% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on DDOG shares. Wedbush restated an “outperform” rating and set a $155.00 price target on shares of Datadog in a research report on Friday, August 9th. UBS Group increased their price target on shares of Datadog from $120.00 to $125.00 and gave the stock a “neutral” rating in a report on Friday, August 9th. Loop Capital reiterated a “buy” rating and issued a $160.00 target price on shares of Datadog in a research report on Friday, July 5th. Scotiabank lowered their price target on Datadog from $145.00 to $135.00 and set a “sector outperform” rating on the stock in a research report on Friday, August 9th. Finally, Bank of America upgraded Datadog from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $143.00 to $155.00 in a report on Thursday, May 30th. Four analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Datadog has an average rating of “Moderate Buy” and an average target price of $139.88.

Insider Activity at Datadog

In other news, insider Madre Armelle De sold 1,749 shares of the stock in a transaction on Thursday, June 27th. The stock was sold at an average price of $125.00, for a total value of $218,625.00. Following the sale, the insider now directly owns 92,025 shares of the company’s stock, valued at $11,503,125. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, General Counsel Kerry Acocella sold 1,846 shares of the company’s stock in a transaction that occurred on Wednesday, June 26th. The shares were sold at an average price of $120.28, for a total value of $222,036.88. Following the transaction, the general counsel now owns 80,084 shares in the company, valued at $9,632,503.52. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Madre Armelle De sold 1,749 shares of the business’s stock in a transaction that occurred on Thursday, June 27th. The stock was sold at an average price of $125.00, for a total transaction of $218,625.00. Following the completion of the transaction, the insider now owns 92,025 shares of the company’s stock, valued at $11,503,125. The disclosure for this sale can be found here. Insiders sold a total of 556,042 shares of company stock valued at $67,802,495 in the last 90 days. Corporate insiders own 11.78% of the company’s stock.

Datadog Trading Up 1.3 %

Shares of DDOG stock opened at $116.22 on Tuesday. The company’s fifty day moving average price is $114.38 and its 200-day moving average price is $119.52. The stock has a market cap of $38.88 billion, a PE ratio of 363.19, a price-to-earnings-growth ratio of 27.84 and a beta of 1.11. Datadog, Inc. has a 12 month low of $77.81 and a 12 month high of $138.61.

Datadog (NASDAQ:DDOG) last posted its quarterly earnings data 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 business had revenue of $645.28 million for the quarter, compared to analyst estimates of $624.92 million. During the same quarter in the previous year, the firm posted $0.36 earnings per share. Datadog’s quarterly revenue was up 26.7% on a year-over-year basis. On average, sell-side analysts forecast that Datadog, Inc. will post 0.41 earnings per share for the current fiscal year.

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.