Bank of New York Mellon Corp Lowers Stock Position in Datadog, Inc. (NASDAQ:DDOG)

Bank of New York Mellon Corp lessened its holdings in shares of Datadog, Inc. (NASDAQ:DDOG - Free Report) by 14.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,721,404 shares of the company's stock after selling 284,851 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.50% of Datadog worth $170,780,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also modified their holdings of DDOG. Farther Finance Advisors LLC lifted its stake 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 buying an additional 92 shares in the last quarter. SageView Advisory Group LLC lifted its stake 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 buying an additional 101 shares in the last quarter. Corient Private Wealth LLC lifted its stake in shares of Datadog by 0.9% during the 4th quarter. Corient Private Wealth LLC now owns 13,118 shares of the company's stock valued at $1,874,000 after buying an additional 115 shares in the last quarter. State of Wyoming lifted its stake in shares of Datadog by 3.7% during the 4th quarter. State of Wyoming now owns 3,277 shares of the company's stock valued at $468,000 after buying an additional 117 shares in the last quarter. Finally, Yousif Capital Management LLC lifted its stake in shares of Datadog by 3.3% during the 1st quarter. Yousif Capital Management LLC now owns 3,891 shares of the company's stock valued at $386,000 after buying an additional 123 shares in the last quarter. Hedge funds and other institutional investors own 78.29% of the company's stock.

Insiders Place Their Bets

In other Datadog news, Director Amit Agarwal sold 25,000 shares of Datadog stock in a transaction on Wednesday, May 28th. The stock was 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 directly owned 76,052 shares of the company's stock, valued at $8,899,605.04. The trade was a 24.74% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Olivier Pomel sold 107,365 shares of the company's stock in a transaction on Monday, June 9th. The stock was sold at an average price of $121.71, for a total value of $13,067,394.15. Following the completion of the sale, the chief executive officer owned 548,715 shares of the company's stock, valued at $66,784,102.65. This represents a 16.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 866,806 shares of company stock worth $104,910,027. 8.70% of the stock is owned by company insiders.

Datadog Trading Down 0.1%

Shares of NASDAQ DDOG traded down $0.12 during midday trading on Friday, hitting $137.37. The company's stock had a trading volume of 6,321,860 shares, compared to its average volume of 4,983,977. The business's 50 day moving average is $123.32 and its two-hundred day moving average is $120.99. Datadog, Inc. has a 12-month low of $81.63 and a 12-month high of $170.08. The company has a current ratio of 2.74, a quick ratio of 2.74 and a debt-to-equity ratio of 0.34. The firm has a market cap of $47.44 billion, a P/E ratio of 298.64, a price-to-earnings-growth ratio of 76.06 and a beta of 1.03.

Datadog (NASDAQ:DDOG - Get Free Report) last released its earnings results on Tuesday, May 6th. The company reported $0.46 earnings per share for the quarter, topping the consensus estimate of $0.42 by $0.04. The business 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 business's revenue for the quarter was up 24.6% compared to the same quarter last year. During the same period last year, the company earned $0.44 earnings per share. As a group, equities research analysts expect that Datadog, Inc. will post 0.34 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on DDOG. Macquarie lowered their target price on shares of Datadog from $175.00 to $140.00 and set an "outperform" rating on the stock in a research note on Wednesday, May 7th. Rosenblatt Securities lowered their target price on shares of Datadog from $160.00 to $150.00 and set a "buy" rating on the stock in a research note on Monday, May 5th. Needham & Company LLC set a $140.00 price target on shares of Datadog and gave the stock a "buy" rating in a research note on Thursday, June 12th. Morgan Stanley boosted their price target on shares of Datadog from $115.00 to $165.00 and gave the stock an "equal weight" rating in a research note on Thursday. Finally, Truist Financial decreased their price target on shares of Datadog from $140.00 to $120.00 and set a "hold" rating on the stock in a research note on Monday, March 31st. One investment analyst has rated the stock with a sell rating, five have given a hold rating and twenty-five have issued a buy rating to the stock. According to data from MarketBeat, Datadog currently has a consensus rating of "Moderate Buy" and an average price target of $144.27.

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.