Datadog, Inc. (NASDAQ:DDOG) Stake Decreased by Commonwealth Equity Services LLC

Commonwealth Equity Services LLC cut its holdings in shares of Datadog, Inc. (NASDAQ:DDOG) by 2.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 210,611 shares of the company’s stock after selling 5,133 shares during the period. Commonwealth Equity Services LLC owned approximately 0.06% of Datadog worth $20,895,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Brighton Jones LLC acquired a new position in Datadog during the 4th quarter worth $209,000. Envestnet Asset Management Inc. raised its stake in shares of Datadog by 81.2% during the fourth quarter. Envestnet Asset Management Inc. now owns 631,192 shares of the company’s stock valued at $90,191,000 after purchasing an additional 282,869 shares in the last quarter. Aster Capital Management DIFC Ltd raised its stake in shares of Datadog by 644.4% during the fourth quarter. Aster Capital Management DIFC Ltd now owns 804 shares of the company’s stock valued at $115,000 after purchasing an additional 696 shares in the last quarter. FIL Ltd acquired a new stake in Datadog in the fourth quarter worth about $3,176,000. Finally, APG Asset Management US Inc. grew its position in Datadog by 6.0% in the 4th quarter. APG Asset Management US Inc. now owns 8,834 shares of the company’s stock valued at $1,262,000 after buying an additional 502 shares in the last quarter. 78.29% of the stock is owned by institutional investors.

Datadog Price Performance

DDOG opened at $136.96 on Thursday. The firm has a market capitalization of $47.30 billion, a P/E ratio of 297.75, a PEG ratio of 73.11 and a beta of 1.02. The stock has a fifty day moving average of $134.51 and a 200-day moving average of $120.96. The company has a quick ratio of 2.74, a current ratio of 2.74 and a debt-to-equity ratio of 0.34. Datadog, Inc. has a 12-month low of $81.63 and a 12-month high of $170.08.

Datadog (NASDAQ:DDOG) last posted its quarterly earnings results on Tuesday, May 6th. The company reported $0.46 earnings per share for the quarter, beating the consensus estimate of $0.42 by $0.04. Datadog had a return on equity of 6.39% and a net margin of 5.85%. The firm had revenue of $761.55 million for the quarter, compared to analyst estimates of $741.73 million. During the same period in the previous year, the firm earned $0.44 earnings per share. Datadog’s quarterly revenue was up 24.6% on a year-over-year basis. Equities analysts forecast that Datadog, Inc. will post 0.34 EPS for the current fiscal year.

Insiders Place Their Bets

In other Datadog news, CTO Alexis Le-Quoc sold 127,105 shares of the company’s stock in a transaction that occurred on Wednesday, June 4th. The shares were sold at an average price of $119.96, for a total value of $15,247,515.80. Following the transaction, the chief technology officer owned 452,769 shares in the company, valued at approximately $54,314,169.24. This represents a 21.92% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Olivier Pomel sold 107,365 shares of the stock in a transaction that occurred on Monday, June 9th. The stock was sold at an average price of $121.71, for a total transaction of $13,067,394.15. Following the completion of the sale, the chief executive officer owned 548,715 shares of the company’s stock, valued at approximately $66,784,102.65. The trade was a 16.36% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 794,450 shares of company stock worth $100,732,467. Insiders own 8.70% of the company’s stock.

Analyst Ratings Changes

DDOG has been the topic of a number of recent analyst reports. Canaccord Genuity Group dropped their price target on shares of Datadog from $150.00 to $145.00 and set a “buy” rating on the stock in a research report on Wednesday, May 7th. DA Davidson set a $160.00 target price on Datadog and gave the stock a “buy” rating in a report on Tuesday. Rosenblatt Securities cut their target price on Datadog from $160.00 to $150.00 and set a “buy” rating for the company in a research report on Monday, May 5th. Morgan Stanley lifted their price target on Datadog from $115.00 to $165.00 and gave the company an “equal weight” rating in a research report on Thursday, July 10th. Finally, Royal Bank Of Canada reissued an “outperform” rating and issued a $119.00 price objective on shares of Datadog in a research note on Wednesday, May 7th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and twenty-four have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $148.86.

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.