Frontier Capital Management Co. LLC Decreases Stock Position in Datadog, Inc. (NASDAQ:DDOG)

Frontier Capital Management Co. LLC cut its stake in Datadog, Inc. (NASDAQ:DDOG - Free Report) by 5.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 267,458 shares of the company's stock after selling 16,671 shares during the period. Frontier Capital Management Co. LLC owned approximately 0.08% of Datadog worth $38,217,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the stock. FWL Investment Management LLC boosted its holdings in shares of Datadog by 6.8% in the 4th quarter. FWL Investment Management LLC now owns 54,704 shares of the company's stock valued at $7,817,000 after purchasing an additional 3,474 shares in the last quarter. Circle Wealth Management LLC lifted its position in shares of Datadog by 9.3% during the 4th quarter. Circle Wealth Management LLC now owns 7,906 shares of the company's stock worth $1,130,000 after buying an additional 676 shares during the last quarter. Driehaus Capital Management LLC bought a new position in Datadog in the fourth quarter valued at about $477,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its stake in Datadog by 25.2% during the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 4,319,132 shares of the company's stock worth $617,161,000 after acquiring an additional 870,217 shares in the last quarter. Finally, Element Pointe Advisors LLC lifted its holdings in shares of Datadog by 60.7% in the fourth quarter. Element Pointe Advisors LLC now owns 2,909 shares of the company's stock worth $416,000 after acquiring an additional 1,099 shares during the last quarter. 78.29% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

DDOG has been the subject of several research analyst reports. BTIG Research set a $136.00 price target on shares of Datadog and gave the stock a "buy" rating in a report on Tuesday, May 6th. Canaccord Genuity Group reduced their price target on Datadog from $150.00 to $145.00 and set a "buy" rating on the stock in a report on Wednesday, May 7th. Barclays raised their price target on shares of Datadog from $125.00 to $128.00 and gave the company an "overweight" rating in a research note on Tuesday, May 6th. Jefferies Financial Group reaffirmed a "buy" rating on shares of Datadog in a research report on Tuesday, May 6th. Finally, Royal Bank of Canada reissued an "outperform" rating and issued a $119.00 price target on shares of Datadog in a research note on Wednesday, May 7th. Seven analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $141.54.

Insider Activity

In related news, CRO Sean Michael Walters sold 8,454 shares of the business's stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $102.04, for a total value of $862,646.16. Following the transaction, the executive now directly owns 185,871 shares of the company's stock, valued at approximately $18,966,276.84. The trade was a 4.35% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Amit Agarwal sold 10,167 shares of the stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $115.86, for a total transaction of $1,177,948.62. Following the sale, the director now directly owns 82,324 shares of the company's stock, valued at approximately $9,538,058.64. This trade represents a 10.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 559,867 shares of company stock worth $57,550,902 in the last three months. Company insiders own 11.78% of the company's stock.

Datadog Trading Up 1.0%

DDOG stock traded up $1.22 on Wednesday, hitting $118.53. The company had a trading volume of 3,811,638 shares, compared to its average volume of 4,344,532. Datadog, Inc. has a 12-month low of $81.63 and a 12-month high of $170.08. The stock has a market cap of $40.63 billion, a price-to-earnings ratio of 232.42, a P/E/G ratio of 44.03 and a beta of 1.12. The stock's 50-day simple moving average is $100.29 and its 200 day simple moving average is $125.70.

Datadog (NASDAQ:DDOG - Get Free Report) last announced its earnings results on Tuesday, May 6th. The company reported $0.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.42 by $0.04. The business had revenue of $761.55 million for the quarter, compared to analysts' expectations of $741.73 million. Datadog had a return on equity of 8.28% and a net margin of 6.85%. The business's revenue for the quarter was up 24.6% on a year-over-year basis. During the same period last year, the firm posted $0.44 earnings per share. Research analysts forecast that Datadog, Inc. will post 0.34 earnings per share for the current year.

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.