China Universal Asset Management Co. Ltd. Trims Holdings in Datadog, Inc. (NASDAQ:DDOG)

China Universal Asset Management Co. Ltd. lessened its holdings in Datadog, Inc. (NASDAQ:DDOG - Free Report) by 66.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,836 shares of the company's stock after selling 15,860 shares during the quarter. China Universal Asset Management Co. Ltd.'s holdings in Datadog were worth $777,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in DDOG. Farther Finance Advisors LLC grew its holdings in 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. YANKCOM Partnership grew its holdings in shares of Datadog by 12.0% during the first quarter. YANKCOM Partnership now owns 927 shares of the company's stock worth $92,000 after purchasing an additional 99 shares in the last quarter. SageView Advisory Group LLC grew its holdings in shares of Datadog by 4.9% during the fourth quarter. SageView Advisory Group LLC now owns 2,176 shares of the company's stock worth $311,000 after purchasing an additional 101 shares in the last quarter. Corient Private Wealth LLC grew its holdings in shares of Datadog by 0.9% during the fourth 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 in the last quarter. Finally, State of Wyoming grew its holdings in shares of Datadog by 3.7% during the fourth 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. Institutional investors and hedge funds own 78.29% of the company's stock.

Datadog Trading Down 0.1%

Datadog stock traded down $0.12 during mid-day trading on Friday, hitting $137.37. The company's stock had a trading volume of 6,320,656 shares, compared to its average volume of 4,980,745. The company has a 50 day moving average of $123.32 and a 200-day moving average of $120.99. The stock has a market cap of $47.44 billion, a PE ratio of 298.64, a P/E/G ratio of 78.97 and a beta of 1.03. The company has a debt-to-equity ratio of 0.34, a quick ratio of 2.74 and a current 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 issued 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 return on equity of 6.39% and a net margin of 5.85%. The business had revenue of $761.55 million during the quarter, compared to analysts' expectations of $741.73 million. During the same period in the prior year, the business earned $0.44 EPS. The business's revenue for the quarter was up 24.6% compared to the same quarter last year. On average, research analysts anticipate that Datadog, Inc. will post 0.34 EPS for the current year.

Insider Activity

In related news, Director Amit Agarwal sold 23,058 shares of the company's stock in a transaction on Wednesday, June 25th. The stock was sold at an average price of $130.87, for a total transaction of $3,017,600.46. Following the completion of the sale, the director directly owned 31,298 shares in the company, valued at $4,095,969.26. This represents a 42.42% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CRO Sean Michael Walters sold 9,469 shares of the company's stock in a transaction on Thursday, July 3rd. The stock was 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. This trade represents a 4.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 866,806 shares of company stock worth $104,910,027 over the last ninety days. 8.70% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Wolfe Research raised Datadog from a "peer perform" rating to an "outperform" rating and set a $150.00 price objective for the company in a report on Thursday, June 12th. Morgan Stanley boosted their price objective on Datadog from $115.00 to $165.00 and gave the stock an "equal weight" rating in a report on Thursday. Bank of America lifted their price target on Datadog from $150.00 to $175.00 and gave the stock a "buy" rating in a research note on Monday. Guggenheim reaffirmed a "sell" rating and set a $105.00 price target on shares of Datadog in a research note on Tuesday. Finally, Scotiabank set a $130.00 price target on Datadog and gave the stock an "outperform" rating in a research note on Wednesday, May 7th. One equities research 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 company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $144.27.

Datadog 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.