Man Group plc Cuts Stock Holdings in Datadog, Inc. (NASDAQ:DDOG)

Man Group plc trimmed its holdings in shares of Datadog, Inc. (NASDAQ:DDOG) by 79.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 75,476 shares of the company’s stock after selling 298,475 shares during the period. Man Group plc’s holdings in Datadog were worth $10,785,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in DDOG. Avior Wealth Management LLC boosted its holdings in shares of Datadog by 55.9% during the fourth quarter. Avior Wealth Management LLC now owns 226 shares of the company’s stock worth $32,000 after purchasing an additional 81 shares during the period. Coppell Advisory Solutions LLC raised its stake in Datadog by 178.8% in the fourth quarter. Coppell Advisory Solutions LLC now owns 276 shares of the company’s stock worth $40,000 after buying an additional 177 shares in the last quarter. Summit Securities Group LLC bought a new position in Datadog in the fourth quarter worth about $43,000. Itau Unibanco Holding S.A. raised its stake in Datadog by 417.7% in the fourth quarter. Itau Unibanco Holding S.A. now owns 321 shares of the company’s stock worth $46,000 after buying an additional 259 shares in the last quarter. Finally, Financial Life Planners bought a new position in Datadog in the fourth quarter worth about $58,000. 78.29% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. Canaccord Genuity Group decreased their price target on shares of Datadog from $150.00 to $145.00 and set a “buy” rating for the company in a research note on Wednesday, May 7th. Macquarie cut their price objective on shares of Datadog from $175.00 to $140.00 and set an “outperform” rating on the stock in a report on Wednesday, May 7th. Rosenblatt Securities cut their price objective on shares of Datadog from $160.00 to $150.00 and set a “buy” rating on the stock in a report on Monday, May 5th. Guggenheim restated a “neutral” rating on shares of Datadog in a report on Wednesday, January 22nd. Finally, Barclays upped their price objective on shares of Datadog from $125.00 to $128.00 and gave the stock an “overweight” rating in a report on Tuesday, May 6th. Seven investment analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $141.54.

Datadog Stock Up 0.5%

Shares of NASDAQ:DDOG opened at $117.67 on Monday. The firm’s 50 day moving average price is $101.10 and its 200 day moving average price is $125.50. The stock has a market cap of $40.64 billion, a price-to-earnings ratio of 230.73, a price-to-earnings-growth ratio of 44.03 and a beta of 1.12. Datadog, Inc. has a fifty-two week low of $81.63 and a fifty-two week high of $170.08.

Datadog (NASDAQ:DDOG) last released its quarterly earnings data on Tuesday, May 6th. The company reported $0.46 earnings per share 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 for the quarter, compared to analysts’ expectations of $741.73 million. During the same quarter last year, the company earned $0.44 earnings per share. The firm’s revenue for the quarter was up 24.6% on a year-over-year basis. On average, equities analysts anticipate that Datadog, Inc. will post 0.34 EPS for the current year.

Insider Activity

In related news, CEO Olivier Pomel sold 107,365 shares of Datadog stock in a transaction on Monday, April 7th. The shares were sold at an average price of $87.33, for a total value of $9,376,185.45. Following the transaction, the chief executive officer now directly owns 563,598 shares in the company, valued at $49,219,013.34. This trade represents a 16.00% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Amit Agarwal sold 25,000 shares of Datadog stock in a transaction on Wednesday, May 14th. The shares were sold at an average price of $118.67, for a total transaction of $2,966,750.00. Following the completion of the transaction, the director now owns 82,324 shares in the company, valued at approximately $9,769,389.08. This trade represents a 23.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 584,867 shares of company stock valued at $60,517,652 in the last ninety days. 11.78% of the stock is currently owned by company insiders.

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.