Rafferty Asset Management LLC Sells 14,078 Shares of Datadog, Inc. (NASDAQ:DDOG)

Rafferty Asset Management LLC lowered its position in Datadog, Inc. (NASDAQ:DDOG) by 11.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 108,459 shares of the company’s stock after selling 14,078 shares during the quarter. Rafferty Asset Management LLC’s holdings in Datadog were worth $15,498,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Allworth Financial LP increased its holdings in shares of Datadog by 7.7% in the fourth quarter. Allworth Financial LP now owns 1,043 shares of the company’s stock worth $146,000 after purchasing an additional 75 shares during the period. Spire Wealth Management grew its position in Datadog by 21.4% in the fourth quarter. Spire Wealth Management now owns 453 shares of the company’s stock worth $65,000 after acquiring an additional 80 shares in the last quarter. Avior Wealth Management LLC grew its position in Datadog by 55.9% in the fourth quarter. Avior Wealth Management LLC now owns 226 shares of the company’s stock worth $32,000 after acquiring an additional 81 shares in the last quarter. Farther Finance Advisors LLC grew its position in Datadog by 5.2% in the fourth quarter. Farther Finance Advisors LLC now owns 1,853 shares of the company’s stock worth $265,000 after acquiring an additional 92 shares in the last quarter. Finally, Parkside Financial Bank & Trust grew its position in Datadog by 16.5% in the fourth quarter. Parkside Financial Bank & Trust now owns 663 shares of the company’s stock worth $95,000 after acquiring an additional 94 shares in the last quarter. Institutional investors own 78.29% of the company’s stock.

Wall Street Analyst Weigh In

DDOG has been the subject of several research reports. Wolfe Research lowered shares of Datadog from an “outperform” rating to a “peer perform” rating in a research report on Tuesday, February 18th. UBS Group upped their target price on shares of Datadog from $120.00 to $125.00 and gave the stock a “buy” rating in a research report on Wednesday, May 7th. Needham & Company LLC cut their target price on shares of Datadog from $160.00 to $130.00 and set a “buy” rating for the company in a research report on Wednesday, May 7th. BTIG Research set a $136.00 target price on shares of Datadog and gave the stock a “buy” rating in a research report on Tuesday, May 6th. Finally, Canaccord Genuity Group cut their price target on shares of Datadog from $150.00 to $145.00 and set a “buy” rating for the company in a research report on Wednesday, May 7th. Seven investment analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $141.54.

Datadog Price Performance

DDOG stock opened at $117.14 on Friday. Datadog, Inc. has a 1 year low of $81.63 and a 1 year high of $170.08. The company has a market cap of $40.15 billion, a P/E ratio of 229.69, a PEG ratio of 44.03 and a beta of 1.12. The firm has a 50-day moving average of $100.79 and a 200 day moving average of $125.59.

Datadog (NASDAQ:DDOG) last released its quarterly earnings results on Tuesday, May 6th. The company reported $0.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.42 by $0.04. Datadog had a net margin of 6.85% and a return on equity of 8.28%. The company had revenue of $761.55 million during the quarter, compared to the consensus estimate of $741.73 million. During the same period in the prior year, the firm earned $0.44 earnings per share. Datadog’s revenue was up 24.6% on a year-over-year basis. On average, equities research analysts expect that Datadog, Inc. will post 0.34 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Datadog news, CTO Alexis Le-Quoc sold 127,105 shares of the firm’s stock in a transaction that occurred on Wednesday, May 7th. The shares were sold at an average price of $105.83, for a total transaction of $13,451,522.15. Following the completion of the transaction, the chief technology officer now owns 466,535 shares of the company’s stock, valued at approximately $49,373,399.05. This trade represents a 21.41% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Matthew Jacobson sold 47,306 shares of the firm’s stock in a transaction that occurred on Wednesday, May 7th. The shares were sold at an average price of $107.40, for a total transaction of $5,080,664.40. Following the transaction, the director now directly owns 25,468 shares of the company’s stock, valued at $2,735,263.20. This represents a 65.00% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 559,867 shares of company stock valued at $57,550,902 over the last three months. Corporate insiders own 11.78% of the company’s stock.

Datadog 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.