Bank Julius Baer & Co. Ltd Zurich Sells 31,543 Shares of Datadog, Inc. (NASDAQ:DDOG)

Bank Julius Baer & Co. Ltd Zurich lowered its holdings in shares of Datadog, Inc. (NASDAQ:DDOG - Free Report) by 26.1% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 89,184 shares of the company's stock after selling 31,543 shares during the quarter. Bank Julius Baer & Co. Ltd Zurich's holdings in Datadog were worth $9,203,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Y Intercept Hong Kong Ltd increased its position in shares of Datadog by 37.4% during the 1st quarter. Y Intercept Hong Kong Ltd now owns 72,978 shares of the company's stock valued at $7,240,000 after purchasing an additional 19,862 shares during the last quarter. Allianz Asset Management GmbH increased its position in shares of Datadog by 58.4% during the 1st quarter. Allianz Asset Management GmbH now owns 966,772 shares of the company's stock valued at $95,918,000 after purchasing an additional 356,246 shares during the last quarter. Heritage Investors Management Corp increased its position in shares of Datadog by 478.7% during the 1st quarter. Heritage Investors Management Corp now owns 56,540 shares of the company's stock valued at $5,609,000 after purchasing an additional 46,769 shares during the last quarter. IFP Advisors Inc increased its position in shares of Datadog by 69.3% during the 1st quarter. IFP Advisors Inc now owns 16,220 shares of the company's stock valued at $1,609,000 after purchasing an additional 6,638 shares during the last quarter. Finally, AustralianSuper Pty Ltd increased its position in shares of Datadog by 22.3% during the 1st quarter. AustralianSuper Pty Ltd now owns 7,177 shares of the company's stock valued at $712,000 after purchasing an additional 1,308 shares during the last quarter. Hedge funds and other institutional investors own 78.29% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on DDOG shares. Wolfe Research raised shares of Datadog from a "peer perform" rating to an "outperform" rating and set a $150.00 price target for the company in a research report on Thursday, June 12th. Wedbush reissued an "outperform" rating and issued a $140.00 target price on shares of Datadog in a report on Wednesday, June 11th. Morgan Stanley increased their target price on shares of Datadog from $115.00 to $165.00 and gave the stock an "equal weight" rating in a report on Thursday, July 10th. Guggenheim reissued a "sell" rating and issued a $105.00 target price on shares of Datadog in a report on Tuesday, July 8th. Finally, BTIG Research set a $136.00 target price on shares of Datadog and gave the stock a "buy" rating in a report on Tuesday, May 6th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and twenty-four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $146.79.

Insider Buying and Selling

In related news, CFO David M. Obstler sold 15,000 shares of the firm's stock in a transaction on Thursday, July 3rd. The stock was sold at an average price of $147.43, for a total value of $2,211,450.00. Following the completion of the sale, the chief financial officer directly owned 399,270 shares in the company, valued at $58,864,376.10. This trade represents a 3.62% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Olivier Pomel sold 32,924 shares of the firm's stock in a transaction on Tuesday, July 8th. The stock was sold at an average price of $146.05, for a total value of $4,808,550.20. Following the completion of the sale, the chief executive officer owned 548,715 shares of the company's stock, valued at approximately $80,139,825.75. This represents a 5.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 957,666 shares of company stock valued at $117,576,223 over the last 90 days. 8.70% of the stock is currently owned by insiders.

Datadog Price Performance

Shares of NASDAQ DDOG traded up $3.28 during midday trading on Friday, reaching $149.84. 4,923,366 shares of the stock traded hands, compared to its average volume of 10,657,659. The company has a debt-to-equity ratio of 0.34, a current ratio of 2.74 and a quick ratio of 2.74. The stock has a market capitalization of $51.75 billion, a PE ratio of 325.75, a P/E/G ratio of 82.40 and a beta of 1.03. Datadog, Inc. has a one year low of $81.63 and a one year high of $170.08. The company's 50 day moving average is $130.32 and its 200 day moving average is $120.69.

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 6.39% and a net margin of 5.85%. 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. On average, equities research analysts anticipate 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.