Cambridge Investment Research Advisors Inc. Sells 2,810 Shares of Datadog, Inc. (NASDAQ:DDOG)

Cambridge Investment Research Advisors Inc. lessened its holdings in shares of Datadog, Inc. (NASDAQ:DDOG - Free Report) by 12.5% in the first quarter, according to its most recent filing with the SEC. The firm owned 19,737 shares of the company's stock after selling 2,810 shares during the quarter. Cambridge Investment Research Advisors Inc.'s holdings in Datadog were worth $1,958,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Farther Finance Advisors LLC increased its position in shares of Datadog by 5.2% during the 4th quarter. Farther Finance Advisors LLC now owns 1,853 shares of the company's stock valued at $265,000 after purchasing an additional 92 shares during the period. SageView Advisory Group LLC boosted its position in shares of Datadog by 4.9% during the 4th quarter. SageView Advisory Group LLC now owns 2,176 shares of the company's stock valued at $311,000 after purchasing an additional 101 shares in the last quarter. Corient Private Wealth LLC grew its stake in shares of Datadog by 0.9% in the 4th quarter. Corient Private Wealth LLC now owns 13,118 shares of the company's stock worth $1,874,000 after purchasing an additional 115 shares during the last quarter. State of Wyoming raised its holdings in shares of Datadog by 3.7% in the 4th quarter. State of Wyoming now owns 3,277 shares of the company's stock worth $468,000 after purchasing an additional 117 shares in the last quarter. Finally, Yousif Capital Management LLC raised its holdings in shares of Datadog by 3.3% in the 1st quarter. Yousif Capital Management LLC now owns 3,891 shares of the company's stock worth $386,000 after purchasing an additional 123 shares in the last quarter. Institutional investors and hedge funds own 78.29% of the company's stock.

Insider Transactions at Datadog

In other news, CRO Sean Michael Walters sold 9,468 shares of the stock in a transaction that occurred on Tuesday, June 17th. The stock was sold at an average price of $125.00, for a total value of $1,183,500.00. Following the completion of the sale, the executive directly owned 221,793 shares of the company's stock, valued at approximately $27,724,125. This represents a 4.09% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO David M. Obstler sold 15,000 shares of the business's stock in a transaction on Wednesday, June 18th. The stock was sold at an average price of $130.25, for a total transaction of $1,953,750.00. Following the transaction, the chief financial officer directly owned 399,270 shares in the company, valued at $52,004,917.50. This trade represents a 3.62% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 901,778 shares of company stock worth $103,817,113. Insiders own 8.70% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on DDOG shares. Bank of America raised their target price on shares of Datadog from $138.00 to $150.00 and gave the stock a "buy" rating in a report on Wednesday, June 18th. Cantor Fitzgerald restated an "overweight" rating and issued a $134.00 target price on shares of Datadog in a report on Wednesday, May 7th. Needham & Company LLC set a $140.00 target price on Datadog and gave the company a "buy" rating in a report on Thursday, June 12th. Jefferies Financial Group reissued a "buy" rating on shares of Datadog in a research note on Tuesday, May 6th. Finally, Barclays boosted their price objective on Datadog from $125.00 to $128.00 and gave the stock an "overweight" rating in a report on Tuesday, May 6th. Six research analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $143.03.

Datadog Stock Performance

Shares of Datadog stock traded up $20.59 on Friday, reaching $155.60. The stock had a trading volume of 29,996,674 shares, compared to its average volume of 4,545,313. The company has a debt-to-equity ratio of 0.34, a quick ratio of 2.74 and a current ratio of 2.74. The business's 50-day moving average price is $118.92 and its two-hundred day moving average price is $121.10. The stock has a market cap of $53.73 billion, a P/E ratio of 338.26, a price-to-earnings-growth ratio of 74.69 and a beta of 1.03. Datadog, Inc. has a fifty-two week low of $81.63 and a fifty-two week high of $170.08.

Datadog (NASDAQ:DDOG - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The company reported $0.46 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.42 by $0.04. The company had revenue of $761.55 million during the quarter, compared to analysts' expectations of $741.73 million. Datadog had a net margin of 5.85% and a return on equity of 6.39%. The business'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 earnings per share. On average, sell-side analysts forecast that Datadog, Inc. will post 0.34 EPS for the current year.

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.