Atria Wealth Solutions Inc. Trims Stock Position in Datadog, Inc. (NASDAQ:DDOG)

Key Points

• Atria Wealth Solutions Inc. reduced its stake in Datadog, Inc. by 76.4%, selling 32,562 shares to hold 10,064 shares, valued at approximately $998,000.
• Insiders at Datadog, including CTO Alexis Le-Quoc and CEO Olivier Pomel, have sold significant amounts of stock recently, with a combined sale of over 835,918 shares valued at $106 million.
• Datadog reported a 28.1% increase in quarterly revenue year-over-year, posting $826.76 million, and an earnings per share of $0.46, exceeding estimates.

Atria Wealth Solutions Inc. lessened its stake in shares of Datadog, Inc. (NASDAQ:DDOG - Free Report) by 76.4% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 10,064 shares of the company's stock after selling 32,562 shares during the period. Atria Wealth Solutions Inc.'s holdings in Datadog were worth $998,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Janus Henderson Group PLC lifted its holdings in shares of Datadog by 17,477.2% in the 4th quarter. Janus Henderson Group PLC now owns 4,016,558 shares of the company's stock worth $573,923,000 after acquiring an additional 3,993,707 shares during the last quarter. Brown Advisory Inc. boosted its position in shares of Datadog by 2,804.2% during the fourth quarter. Brown Advisory Inc. now owns 2,749,174 shares of the company's stock worth $392,830,000 after buying an additional 2,654,512 shares during the period. Baillie Gifford & Co. lifted its stake 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 acquiring an additional 1,369,522 shares in the last quarter. Assenagon Asset Management S.A. boosted its holdings in Datadog by 341.0% during the 1st quarter. Assenagon Asset Management S.A. now owns 1,569,341 shares of the company's stock valued at $155,694,000 after acquiring an additional 1,213,475 shares during the period. Finally, Fullerton Fund Management Co Ltd. acquired a new position in Datadog in the 4th quarter valued at about $165,757,000. Institutional investors and hedge funds own 78.29% of the company's stock.

Insider Transactions at Datadog

In other news, Director Shardul Shah sold 7,924 shares of the company's stock in a transaction on Tuesday, July 15th. The shares were sold at an average price of $140.80, for a total transaction of $1,115,699.20. Following the transaction, the director directly owned 380,281 shares of the company's stock, valued at $53,543,564.80. This represents a 2.04% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Titilope Cole sold 2,210 shares of the stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $136.59, for a total transaction of $301,863.90. Following the completion of the transaction, the director owned 6,347 shares of the company's stock, valued at $866,936.73. This represents a 25.83% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 846,051 shares of company stock valued at $107,936,283. 8.70% of the stock is owned by company insiders.

Datadog Stock Performance

Datadog stock traded up $3.12 during trading hours on Friday, reaching $127.64. 2,327,038 shares of the stock were exchanged, compared to its average volume of 5,941,400. Datadog, Inc. has a 52-week low of $81.63 and a 52-week high of $170.08. The stock has a market cap of $44.08 billion, a P/E ratio of 364.80, a P/E/G ratio of 61.60 and a beta of 1.02. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.74 and a current ratio of 3.43. The firm's 50 day moving average is $135.84 and its 200 day moving average is $120.53.

Datadog (NASDAQ:DDOG - Get Free Report) last posted its quarterly 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. The firm had revenue of $826.76 million during the quarter, compared to analysts' expectations of $791.72 million. Datadog had a net margin of 4.13% and a return on equity of 5.04%. The firm's revenue for the quarter was up 28.1% on a year-over-year basis. During the same period in the prior year, the company posted $0.43 earnings per share. Analysts predict that Datadog, Inc. will post 0.34 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

DDOG has been the subject of a number of research reports. Bank of America lifted their price objective on shares of Datadog from $150.00 to $175.00 and gave the company a "buy" rating in a report on Monday, July 7th. Rosenblatt Securities decreased their target price on Datadog from $160.00 to $150.00 and set a "buy" rating for the company in a report on Monday, May 5th. DA Davidson set a $160.00 price target on Datadog and gave the stock a "buy" rating in a report on Tuesday, August 5th. Sanford C. Bernstein reiterated an "outperform" rating on shares of Datadog in a research note on Friday, August 8th. Finally, Jefferies Financial Group upped their target price on shares of Datadog from $135.00 to $160.00 and gave the stock a "buy" rating in a research note on Monday, August 4th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and twenty-four have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus 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.