Blair William & Co. IL Has $2.82 Million Stock Position in Datadog, Inc. (NASDAQ:DDOG)

Key Points

• Blair William & Co. IL reduced its stake in Datadog, Inc. by 27.4% during the first quarter, now holding 28,455 shares valued at approximately $2.82 million after selling 10,738 shares.
• Several institutional investors have recently adjusted their positions in Datadog, with 78.29% of the stock currently owned by these entities, indicating strong institutional interest.
• Datadog recently reported earnings of $0.46 per share for the quarter, beating analysts' expectations and showing a year-over-year revenue growth of 28.1% to $826.76 million.

Blair William & Co. IL cut its position in shares of Datadog, Inc. (NASDAQ:DDOG - Free Report) by 27.4% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 28,455 shares of the company's stock after selling 10,738 shares during the quarter. Blair William & Co. IL's holdings in Datadog were worth $2,823,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Putney Financial Group LLC purchased a new stake in shares of Datadog in the 4th quarter valued at approximately $32,000. Elequin Capital LP purchased a new stake in shares of Datadog in the fourth quarter valued at $34,000. Coppell Advisory Solutions LLC lifted its holdings in shares of Datadog by 178.8% in the fourth quarter. Coppell Advisory Solutions LLC now owns 276 shares of the company's stock valued at $40,000 after purchasing an additional 177 shares in the last quarter. Cornerstone Planning Group LLC boosted its position in shares of Datadog by 96.9% in the first quarter. Cornerstone Planning Group LLC now owns 313 shares of the company's stock worth $30,000 after buying an additional 154 shares during the period. Finally, Itau Unibanco Holding S.A. grew its holdings in shares of Datadog by 417.7% during the fourth quarter. Itau Unibanco Holding S.A. now owns 321 shares of the company's stock valued at $46,000 after buying an additional 259 shares in the last quarter. 78.29% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Datadog

In other Datadog news, CRO Sean Michael Walters sold 9,469 shares of the business's stock in a transaction on Thursday, July 3rd. The shares were sold at an average price of $150.00, for a total value of $1,420,350.00. Following the sale, the executive owned 212,324 shares of the company's stock, valued at $31,848,600. The trade was a 4.27% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CTO Alexis Le-Quoc sold 41,468 shares of the stock in a transaction on Tuesday, August 5th. The shares were sold at an average price of $134.47, for a total transaction of $5,576,201.96. Following the completion of the transaction, the chief technology officer owned 452,769 shares of the company's stock, valued at approximately $60,883,847.43. This represents a 8.39% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 835,918 shares of company stock worth $106,308,669 in the last three months. Company insiders own 8.70% of the company's stock.

Datadog Trading Down 0.4%

Shares of Datadog stock opened at $136.38 on Friday. Datadog, Inc. has a 1 year low of $81.63 and a 1 year high of $170.08. The company's fifty day simple moving average is $134.90 and its 200-day simple moving average is $120.94. The company has a market cap of $47.10 billion, a price-to-earnings ratio of 296.48, a PEG ratio of 75.32 and a beta of 1.02. The company has a current ratio of 2.74, a quick ratio of 2.74 and a debt-to-equity ratio of 0.34.

Datadog (NASDAQ:DDOG - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The company reported $0.46 EPS for the quarter, beating analysts' consensus estimates of $0.41 by $0.05. Datadog had a net margin of 5.85% and a return on equity of 6.39%. The business had revenue of $826.76 million during the quarter, compared to analyst estimates of $791.72 million. During the same quarter in the prior year, the business earned $0.43 earnings per share. The firm's revenue for the quarter was up 28.1% on a year-over-year basis. As a group, sell-side analysts expect that Datadog, Inc. will post 0.34 EPS for the current year.

Analysts Set New Price Targets

Several research firms have weighed in on DDOG. DA Davidson set a $160.00 target price on Datadog and gave the company a "buy" rating in a research note on Tuesday. Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Datadog in a research report on Thursday. Jefferies Financial Group increased their target price on shares of Datadog from $135.00 to $160.00 and gave the stock a "buy" rating in a research report on Monday. Bank of America lifted their target price on shares of Datadog from $150.00 to $175.00 and gave the company a "buy" rating in a research note on Monday, July 7th. Finally, Royal Bank Of Canada restated an "outperform" rating and set a $119.00 price target on shares of Datadog in a report on Wednesday, May 7th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and twenty-four have assigned a buy rating to the stock. According to MarketBeat, Datadog presently has an average rating of "Moderate Buy" and an average price target of $149.90.

Datadog Company 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.

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