Allspring Global Investments Holdings LLC Sells 711,729 Shares of Datadog, Inc. (NASDAQ:DDOG)

Allspring Global Investments Holdings LLC reduced its stake in Datadog, Inc. (NASDAQ:DDOG - Free Report) by 95.7% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 32,346 shares of the company's stock after selling 711,729 shares during the quarter. Allspring Global Investments Holdings LLC's holdings in Datadog were worth $3,269,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the stock. Putney Financial Group LLC bought a new stake in shares of Datadog during the fourth quarter worth $32,000. Elequin Capital LP purchased a new stake in Datadog in the fourth quarter valued at $34,000. Opal Wealth Advisors LLC acquired a new position in shares of Datadog in the first quarter worth about $37,000. Center for Financial Planning Inc. raised its position in shares of Datadog by 1,189.7% in the first quarter. Center for Financial Planning Inc. now owns 374 shares of the company's stock worth $37,000 after acquiring an additional 345 shares during the period. Finally, MassMutual Private Wealth & Trust FSB raised its position in shares of Datadog by 74.0% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 381 shares of the company's stock worth $38,000 after purchasing an additional 162 shares during the last quarter. 78.29% of the stock is owned by institutional investors.

Insider Transactions at Datadog

In related news, CTO Alexis Le-Quoc sold 127,105 shares of the stock in a transaction that occurred on Wednesday, May 7th. The shares were sold at an average price of $105.83, for a total transaction of $13,451,522.15. Following the completion of the sale, the chief technology officer directly owned 466,535 shares of the company's stock, valued at $49,373,399.05. This represents a 21.41% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Amit Agarwal sold 25,000 shares of the company's stock in a transaction that occurred on Wednesday, May 28th. The shares were sold at an average price of $117.02, for a total transaction of $2,925,500.00. Following the completion of the sale, the director owned 76,052 shares of the company's stock, valued at approximately $8,899,605.04. This trade represents a 24.74% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 794,413 shares of company stock worth $94,440,927 over the last three months. Insiders own 8.70% of the company's stock.

Analyst Ratings Changes

DDOG has been the subject of several research reports. Guggenheim reaffirmed a "sell" rating and set a $105.00 price objective on shares of Datadog in a research note on Tuesday. Morgan Stanley reduced their price objective on shares of Datadog from $143.00 to $115.00 and set an "equal weight" rating on the stock in a report on Wednesday, April 16th. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $134.00 target price on shares of Datadog in a research report on Wednesday, May 7th. Stifel Nicolaus lifted their target price on shares of Datadog from $120.00 to $135.00 and gave the company a "hold" rating in a report on Thursday, June 26th. Finally, Wolfe Research upgraded shares of Datadog from a "peer perform" rating to an "outperform" rating and set a $150.00 target price for the company in a research report on Thursday, June 12th. One analyst has rated the stock with a sell rating, five have issued a hold rating and twenty-five have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $142.60.

Datadog Stock Performance

Shares of NASDAQ DDOG traded down $5.53 during midday trading on Tuesday, reaching $146.88. 6,551,587 shares of the company were exchanged, compared to its average volume of 4,612,586. 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, Inc. has a 1 year low of $81.63 and a 1 year high of $170.08. The stock has a fifty day simple moving average of $121.01 and a 200 day simple moving average of $120.73. The stock has a market cap of $50.73 billion, a P/E ratio of 318.91, a PEG ratio of 85.83 and a beta of 1.03.

Datadog (NASDAQ:DDOG - Get Free Report) last posted 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. Datadog had a net margin of 5.85% and a return on equity of 6.39%. The company had revenue of $761.55 million during the quarter, compared to the consensus estimate of $741.73 million. During the same period last year, the firm earned $0.44 EPS. The company's revenue for the quarter was up 24.6% on a year-over-year basis. On average, research analysts forecast that Datadog, Inc. will post 0.34 earnings per share for the current fiscal year.

About Datadog

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.