Datadog, Inc. (NASDAQ:DDOG) Stock Position Trimmed by Burney Co.

Burney Co. lessened its stake in shares of Datadog, Inc. (NASDAQ:DDOG - Free Report) by 45.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 19,407 shares of the company's stock after selling 16,055 shares during the quarter. Burney Co.'s holdings in Datadog were worth $1,925,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Emerald Advisers LLC boosted its position in shares of Datadog by 1.1% during the 1st quarter. Emerald Advisers LLC now owns 9,300 shares of the company's stock worth $923,000 after purchasing an additional 97 shares in the last quarter. YANKCOM Partnership grew its position in Datadog by 12.0% during the first quarter. YANKCOM Partnership now owns 927 shares of the company's stock worth $92,000 after buying an additional 99 shares during the period. SageView Advisory Group LLC lifted 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 acquiring an additional 101 shares during the period. State of Wyoming grew 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 acquiring an additional 117 shares during the period. Finally, Forum Financial Management LP raised its holdings in Datadog by 6.1% during the first quarter. Forum Financial Management LP now owns 2,040 shares of the company's stock worth $202,000 after purchasing an additional 118 shares during the last quarter. 78.29% of the stock is owned by institutional investors and hedge funds.

Datadog Stock Up 2.2%

Shares of NASDAQ:DDOG traded up $3.28 during midday trading on Friday, reaching $149.84. The company had a trading volume of 4,923,366 shares, compared to its average volume of 10,657,659. The stock has a market capitalization of $51.75 billion, a P/E ratio of 325.75, a PEG ratio of 80.60 and a beta of 1.03. The stock's fifty day moving average price is $130.32 and its 200-day moving average price is $120.84. The company has a debt-to-equity ratio of 0.34, a current ratio of 2.74 and a quick ratio of 2.74. Datadog, Inc. has a one year low of $81.63 and a one year high of $170.08.

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. 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 quarter in the previous year, the firm earned $0.44 EPS. The company's revenue was up 24.6% on a year-over-year basis. Equities research analysts expect that Datadog, Inc. will post 0.34 earnings per share for the current fiscal year.

Insider Activity

In other Datadog news, Director Shardul Shah sold 7,924 shares of the business's stock in a transaction on Tuesday, July 15th. The shares were sold at an average price of $140.80, for a total transaction of $1,115,699.20. Following the completion of the sale, the director owned 380,281 shares in the company, valued at $53,543,564.80. The trade was a 2.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Olivier Pomel sold 32,924 shares of the firm's stock in a transaction dated Tuesday, July 8th. The stock was sold at an average price of $146.05, for a total transaction of $4,808,550.20. Following the completion of the transaction, the chief executive officer owned 548,715 shares in the company, valued at approximately $80,139,825.75. The trade was a 5.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 957,666 shares of company stock valued at $117,576,223 over the last three months. Company insiders own 8.70% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on DDOG. Scotiabank set a $130.00 target price on shares of Datadog and gave the stock an "outperform" rating in a research report on Wednesday, May 7th. Rosenblatt Securities dropped their price target on Datadog from $160.00 to $150.00 and set a "buy" rating for the company in a research report on Monday, May 5th. Mizuho upped their price objective on Datadog from $125.00 to $145.00 and gave the company an "outperform" rating in a research report on Wednesday, July 16th. UBS Group boosted their target price on shares of Datadog from $140.00 to $165.00 and gave the company a "buy" rating in a research note on Wednesday, July 16th. Finally, Morgan Stanley raised 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, July 10th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and twenty-four have assigned a buy rating to the company. According to MarketBeat, Datadog currently has an average rating of "Moderate Buy" and an average price target of $146.79.

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.