American Century Companies Inc. Trims Stock Holdings in Datadog, Inc. $DDOG

Key Points

• American Century Companies Inc. reduced its stake in Datadog, Inc. by 12.6%, selling 595,324 shares and now holds approximately 1.20% of the company, valued at $409.55 million.
• Multiple analysts have upgraded Datadog's stock, with new price targets ranging from $119.00 to $175.00, resulting in a consensus rating of "Moderate Buy" and a target price of $152.93.
• Datadog reported better-than-expected earnings with an EPS of $0.46, exceeding estimates of $0.41, and revenue of $826.76 million, significantly higher than the expected $791.72 million.

American Century Companies Inc. reduced its stake in Datadog, Inc. (NASDAQ:DDOG - Free Report) by 12.6% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,128,141 shares of the company's stock after selling 595,324 shares during the period. American Century Companies Inc. owned 1.20% of Datadog worth $409,553,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of DDOG. Vanguard Group Inc. raised its holdings in Datadog by 3.5% during the first quarter. Vanguard Group Inc. now owns 31,413,032 shares of the company's stock worth $3,116,487,000 after purchasing an additional 1,058,803 shares in the last quarter. Baillie Gifford & Co. grew its position in Datadog by 12.6% during the 1st quarter. Baillie Gifford & Co. now owns 12,274,655 shares of the company's stock worth $1,217,769,000 after purchasing an additional 1,369,522 shares in the last quarter. Goldman Sachs Group Inc. grew its position in Datadog by 259.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 8,658,340 shares of the company's stock worth $858,994,000 after purchasing an additional 6,250,942 shares in the last quarter. Brown Advisory Inc. grew its holdings in shares of Datadog by 76.5% during the 1st quarter. Brown Advisory Inc. now owns 4,853,012 shares of the company's stock valued at $481,467,000 after acquiring an additional 2,103,838 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA grew its holdings in shares of Datadog by 4.0% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 4,656,379 shares of the company's stock valued at $461,959,000 after acquiring an additional 180,100 shares in the last quarter. 78.29% of the stock is currently owned by institutional investors and hedge funds.

Datadog Stock Up 2.2%

NASDAQ DDOG traded up $2.73 on Friday, hitting $127.25. 4,565,628 shares of the company were exchanged, compared to its average volume of 6,009,430. The company has a market cap of $44.38 billion, a PE ratio of 363.58, a PEG ratio of 61.90 and a beta of 1.02. Datadog, Inc. has a 12 month low of $81.63 and a 12 month high of $170.08. The stock has a fifty day moving average of $135.95 and a 200-day moving average of $120.03. The company has a current ratio of 3.43, a quick ratio of 3.43 and a debt-to-equity ratio of 0.31.

Datadog (NASDAQ:DDOG - Get Free Report) last issued its earnings results on Thursday, August 7th. The company reported $0.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.41 by $0.05. Datadog had a net margin of 4.13% and a return on equity of 5.04%. The business had revenue of $826.76 million for the quarter, compared to analyst estimates of $791.72 million. During the same period in the prior year, the firm earned $0.43 earnings per share. Datadog's revenue was up 28.1% on a year-over-year basis. As a group, analysts forecast that Datadog, Inc. will post 0.34 earnings per share for the current year.

Insider Buying and Selling at Datadog

In related news, CFO David M. Obstler sold 35,016 shares of the firm's stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $117.40, for a total transaction of $4,110,878.40. Following the transaction, the chief financial officer directly owned 399,270 shares of the company's stock, valued at $46,874,298. This trade represents a 8.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CTO Alexis Le-Quoc sold 127,105 shares of the firm's stock in a transaction dated Wednesday, June 4th. The shares were sold at an average price of $119.96, for a total transaction of $15,247,515.80. Following the transaction, the chief technology officer directly owned 452,769 shares in the company, valued at $54,314,169.24. The trade was a 21.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 846,051 shares of company stock valued at $107,936,283 over the last ninety days. 8.70% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. Canaccord Genuity Group upped their price objective on shares of Datadog from $145.00 to $160.00 and gave the stock a "buy" rating in a report on Friday, August 8th. Bank of America increased their price target on shares of Datadog from $150.00 to $175.00 and gave the stock a "buy" rating in a research report on Monday, July 7th. Wolfe Research raised shares of Datadog from a "peer perform" rating to an "outperform" rating and set a $150.00 price objective on the stock in a research note on Thursday, June 12th. Barclays set a $170.00 price target on shares of Datadog and gave the company an "overweight" rating in a research note on Thursday, August 7th. Finally, Scotiabank restated an "outperform" rating on shares of Datadog in a report on Friday, August 8th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and twenty-four have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $152.93.

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.