Datadog, Inc. (NASDAQ:DDOG) Shares Sold by River Global Investors LLP

River Global Investors LLP lessened its holdings in shares of Datadog, Inc. (NASDAQ:DDOG) by 33.4% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 6,741 shares of the company’s stock after selling 3,374 shares during the quarter. River Global Investors LLP’s holdings in Datadog were worth $818,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in DDOG. Cambridge Investment Research Advisors Inc. lifted its position in shares of Datadog by 96.4% during the third quarter. Cambridge Investment Research Advisors Inc. now owns 33,433 shares of the company’s stock worth $3,045,000 after purchasing an additional 16,410 shares in the last quarter. Raymond James Financial Services Advisors Inc. lifted its position in shares of Datadog by 5.6% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 46,731 shares of the company’s stock worth $4,257,000 after purchasing an additional 2,462 shares in the last quarter. Stratos Wealth Partners LTD. acquired a new stake in shares of Datadog during the third quarter worth about $363,000. Bank of New York Mellon Corp lifted its position in shares of Datadog by 2.5% during the third quarter. Bank of New York Mellon Corp now owns 1,378,534 shares of the company’s stock worth $125,571,000 after purchasing an additional 33,748 shares in the last quarter. Finally, Forsta AP Fonden lifted its position in shares of Datadog by 1.4% during the third quarter. Forsta AP Fonden now owns 51,100 shares of the company’s stock worth $4,655,000 after purchasing an additional 700 shares in the last quarter. Institutional investors and hedge funds own 78.29% of the company’s stock.

Insider Activity at Datadog

In related news, President Amit Agarwal sold 33,311 shares of Datadog stock in a transaction on Monday, March 4th. The shares were sold at an average price of $128.58, for a total value of $4,283,128.38. Following the transaction, the president now directly owns 294,012 shares in the company, valued at approximately $37,804,062.96. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Datadog news, insider Madre Armelle De sold 12,654 shares of the firm’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $128.58, for a total value of $1,627,051.32. Following the completion of the sale, the insider now owns 109,505 shares of the company’s stock, valued at $14,080,152.90. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, President Amit Agarwal sold 33,311 shares of the firm’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $128.58, for a total value of $4,283,128.38. Following the completion of the sale, the president now directly owns 294,012 shares of the company’s stock, valued at approximately $37,804,062.96. The disclosure for this sale can be found here. Insiders have sold a total of 759,908 shares of company stock worth $97,728,997 in the last three months. Insiders own 11.78% of the company’s stock.

Datadog Stock Performance

NASDAQ:DDOG traded down $1.19 during midday trading on Friday, reaching $124.27. The stock had a trading volume of 3,884,462 shares, compared to its average volume of 3,407,850. The firm has a fifty day simple moving average of $124.99 and a two-hundred day simple moving average of $118.69. Datadog, Inc. has a 12-month low of $70.00 and a 12-month high of $138.61. The company has a quick ratio of 3.17, a current ratio of 3.17 and a debt-to-equity ratio of 0.37. The stock has a market cap of $41.24 billion, a P/E ratio of 1,035.58 and a beta of 1.14.

Datadog (NASDAQ:DDOG) last posted its quarterly earnings data on Tuesday, February 13th. The company reported $0.44 earnings per share for the quarter, beating analysts’ consensus estimates of $0.43 by $0.01. Datadog had a net margin of 2.28% and a return on equity of 3.79%. The firm had revenue of $589.65 million for the quarter, compared to analyst estimates of $568.73 million. During the same period last year, the firm posted ($0.08) EPS. Datadog’s quarterly revenue was up 25.6% on a year-over-year basis. On average, equities analysts expect that Datadog, Inc. will post -0.14 EPS for the current year.

Analyst Ratings Changes

Several analysts recently weighed in on the stock. Royal Bank of Canada raised their target price on shares of Datadog from $145.00 to $151.00 and gave the company an “outperform” rating in a report on Wednesday, February 14th. Robert W. Baird raised their target price on shares of Datadog from $120.00 to $130.00 and gave the company a “neutral” rating in a report on Wednesday, February 14th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $150.00 target price on shares of Datadog in a report on Wednesday, April 17th. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $150.00 target price on shares of Datadog in a report on Friday, February 23rd. Finally, Stifel Nicolaus reaffirmed a “buy” rating and issued a $152.00 target price on shares of Datadog in a report on Monday, April 22nd. Five equities research analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the stock. Based on data from MarketBeat.com, Datadog currently has an average rating of “Moderate Buy” and a consensus price target of $133.31.

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.