Datadog, Inc. (NASDAQ:DDOG) Shares Sold by Cresset Asset Management LLC

Cresset Asset Management LLC trimmed its position in shares of Datadog, Inc. (NASDAQ:DDOG - Free Report) by 26.4% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 22,198 shares of the company's stock after selling 7,946 shares during the quarter. Cresset Asset Management LLC's holdings in Datadog were worth $3,172,000 as of its most recent filing with the SEC.

Other large investors have also recently made changes to their positions in the company. Retirement Wealth Solutions LLC purchased a new stake in shares of Datadog in the 4th quarter valued at approximately $30,000. Avior Wealth Management LLC raised its position in Datadog by 55.9% in the fourth quarter. Avior Wealth Management LLC now owns 226 shares of the company's stock valued at $32,000 after purchasing an additional 81 shares during the period. Coppell Advisory Solutions LLC raised its position in Datadog by 178.8% in the fourth quarter. Coppell Advisory Solutions LLC now owns 276 shares of the company's stock valued at $40,000 after purchasing an additional 177 shares during the period. Kieckhefer Group LLC purchased a new stake in Datadog in the fourth quarter valued at $43,000. Finally, Summit Securities Group LLC purchased a new stake in Datadog in the fourth quarter valued at $43,000. 78.29% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CEO Olivier Pomel sold 107,365 shares of the company's stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $109.56, for a total value of $11,762,909.40. Following the completion of the sale, the chief executive officer now directly owns 435,793 shares of the company's stock, valued at $47,745,481.08. This represents a 19.77% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO Alexis Le-Quoc sold 127,105 shares of Datadog stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $102.15, for a total transaction of $12,983,775.75. Following the completion of the transaction, the chief technology officer now directly owns 371,865 shares in the company, valued at $37,986,009.75. The trade was a 25.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 559,867 shares of company stock valued at $57,550,902. 11.78% of the stock is currently owned by insiders.

Datadog Stock Down 1.2%

Datadog stock traded down $1.34 during midday trading on Friday, reaching $107.88. The company's stock had a trading volume of 3,603,369 shares, compared to its average volume of 4,334,058. The business has a 50-day simple moving average of $100.20 and a 200-day simple moving average of $125.85. The company has a market cap of $36.98 billion, a P/E ratio of 211.53, a P/E/G 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 - Get Free Report) last issued its quarterly earnings data on Tuesday, May 6th. The company reported $0.46 earnings per share for the quarter, topping the consensus estimate of $0.42 by $0.04. Datadog had a net margin of 6.85% and a return on equity of 8.28%. The business had revenue of $761.55 million during the quarter, compared to the consensus estimate of $741.73 million. During the same quarter in the previous year, the firm earned $0.44 EPS. The company's revenue was up 24.6% compared to the same quarter last year. As a group, equities analysts forecast that Datadog, Inc. will post 0.34 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on DDOG shares. Scotiabank set a $130.00 price objective on shares of Datadog and gave the stock an "outperform" rating in a report on Wednesday. Royal Bank of Canada reissued an "outperform" rating and issued a $119.00 target price on shares of Datadog in a research report on Wednesday. Needham & Company LLC cut their target price on Datadog from $160.00 to $130.00 and set a "buy" rating on the stock in a research report on Wednesday. Wedbush dropped their price objective on Datadog from $155.00 to $140.00 and set an "outperform" rating for the company in a research note on Wednesday. Finally, Macquarie dropped their price objective on Datadog from $175.00 to $140.00 and set an "outperform" rating for the company in a research note on Wednesday. Seven research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company. According to MarketBeat, Datadog has an average rating of "Moderate Buy" and an average target price of $141.54.

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.