Adero Partners LLC Sells 2,981 Shares of Datadog, Inc. (NASDAQ:DDOG)

Adero Partners LLC lowered its stake in shares of Datadog, Inc. (NASDAQ:DDOG - Free Report) by 1.3% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 232,573 shares of the company's stock after selling 2,981 shares during the quarter. Datadog makes up approximately 1.5% of Adero Partners LLC's portfolio, making the stock its 16th largest holding. Adero Partners LLC owned about 0.07% of Datadog worth $23,074,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in DDOG. Wealth Enhancement Advisory Services LLC boosted its position in Datadog by 32.0% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 15,506 shares of the company's stock worth $2,216,000 after purchasing an additional 3,760 shares during the period. Proficio Capital Partners LLC purchased a new stake in shares of Datadog in the fourth quarter worth about $14,884,000. ARK Investment Management LLC lifted its holdings in shares of Datadog by 62.7% in the fourth quarter. ARK Investment Management LLC now owns 127,290 shares of the company's stock worth $18,188,000 after buying an additional 49,050 shares in the last quarter. Y Intercept Hong Kong Ltd raised its stake in Datadog by 140.1% in the fourth quarter. Y Intercept Hong Kong Ltd now owns 53,116 shares of the company's stock valued at $7,590,000 after purchasing an additional 30,998 shares in the last quarter. Finally, Baillie Gifford & Co. increased its holdings in shares of Datadog by 15.8% in the 4th quarter. Baillie Gifford & Co. now owns 10,905,133 shares of the company's stock worth $1,558,234,000 after buying an additional 1,484,562 shares during the last quarter. Institutional investors own 78.29% of the company's stock.

Datadog Price Performance

DDOG stock opened at $120.45 on Monday. Datadog, Inc. has a 1-year low of $81.63 and a 1-year high of $170.08. The company has a market capitalization of $41.60 billion, a price-to-earnings ratio of 236.18, a PEG ratio of 44.03 and a beta of 1.01. The business has a 50 day simple moving average of $108.01 and a two-hundred day simple moving average of $123.15.

Datadog (NASDAQ:DDOG - Get Free Report) last posted its earnings results on Tuesday, May 6th. The company reported $0.46 EPS for the quarter, beating analysts' consensus estimates of $0.42 by $0.04. The firm had revenue of $761.55 million during the quarter, compared to the consensus estimate of $741.73 million. Datadog had a return on equity of 8.28% and a net margin of 6.85%. The company's quarterly revenue was up 24.6% compared to the same quarter last year. During the same period in the prior year, the company earned $0.44 EPS. Sell-side analysts anticipate that Datadog, Inc. will post 0.34 EPS for the current fiscal year.

Insider Buying and Selling at Datadog

In other news, CTO Alexis Le-Quoc sold 127,105 shares of the business's stock in a transaction dated Wednesday, May 7th. The stock was sold at an average price of $105.83, for a total transaction of $13,451,522.15. Following the sale, the chief technology officer now owns 466,535 shares in the company, valued at approximately $49,373,399.05. The trade was a 21.41% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Olivier Pomel sold 107,365 shares of the business's stock in a transaction dated Monday, June 9th. The stock was sold at an average price of $121.71, for a total value of $13,067,394.15. Following the sale, the chief executive officer now owns 548,715 shares in the company, valued at $66,784,102.65. The trade was a 16.36% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 725,582 shares of company stock worth $80,913,097 over the last quarter. Insiders own 8.70% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on DDOG. Needham & Company LLC increased their price target on shares of Datadog from $130.00 to $140.00 and gave the stock a "buy" rating in a report on Thursday. Macquarie reduced their price target on shares of Datadog from $175.00 to $140.00 and set an "outperform" rating on the stock in a research report on Wednesday, May 7th. Jefferies Financial Group restated a "buy" rating on shares of Datadog in a report on Tuesday, May 6th. Stifel Nicolaus set a $120.00 target price on shares of Datadog in a report on Tuesday, May 6th. Finally, Wolfe Research upgraded shares of Datadog from a "peer perform" rating to an "outperform" rating and set a $150.00 target price on the stock in a report on Thursday. Six research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $142.25.

About Datadog

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.

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