Datadog, Inc. (NASDAQ:DDOG) Shares Sold by China Universal Asset Management Co. Ltd.

China Universal Asset Management Co. Ltd. decreased its stake in shares of Datadog, Inc. (NASDAQ:DDOG - Free Report) by 66.9% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 7,836 shares of the company's stock after selling 15,860 shares during the period. China Universal Asset Management Co. Ltd.'s holdings in Datadog were worth $777,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in DDOG. Putney Financial Group LLC bought a new position in shares of Datadog during the 4th quarter valued at about $32,000. Elequin Capital LP purchased a new position in shares of Datadog in the 4th quarter valued at approximately $34,000. Coppell Advisory Solutions LLC lifted its stake in shares of Datadog by 178.8% in the 4th quarter. Coppell Advisory Solutions LLC now owns 276 shares of the company's stock valued at $40,000 after purchasing an additional 177 shares during the period. Summit Securities Group LLC purchased a new position in shares of Datadog in the 4th quarter valued at approximately $43,000. Finally, Itau Unibanco Holding S.A. raised its stake in Datadog by 417.7% during the fourth quarter. Itau Unibanco Holding S.A. now owns 321 shares of the company's stock valued at $46,000 after buying an additional 259 shares during the last quarter. Hedge funds and other institutional investors own 78.29% of the company's stock.

Wall Street Analyst Weigh In

DDOG has been the subject of a number of research analyst reports. UBS Group lifted their target price on Datadog from $125.00 to $140.00 and gave the stock a "buy" rating in a report on Wednesday, June 11th. Rosenblatt Securities reduced 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. Truist Financial reduced their price target on Datadog from $140.00 to $120.00 and set a "hold" rating for the company in a research report on Monday, March 31st. Wells Fargo & Company cut their target price on Datadog from $140.00 to $115.00 and set an "equal weight" rating for the company in a research report on Wednesday, May 7th. Finally, Canaccord Genuity Group dropped their price target on Datadog from $150.00 to $145.00 and set a "buy" rating for the company in a research note on Wednesday, May 7th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and twenty-five have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $142.60.

Datadog Stock Down 2.2%

Shares of NASDAQ:DDOG traded down $3.19 on Wednesday, reaching $142.75. The company had a trading volume of 9,049,480 shares, compared to its average volume of 4,946,962. Datadog, Inc. has a 52-week low of $81.63 and a 52-week high of $170.08. The firm's 50 day simple moving average is $121.89 and its 200-day simple moving average is $120.90. The firm has a market capitalization of $49.30 billion, a PE ratio of 310.33, a PEG ratio of 84.31 and a beta of 1.03. 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 (NASDAQ:DDOG - Get Free Report) last announced 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 return on equity of 6.39% and a net margin of 5.85%. The business had revenue of $761.55 million for the quarter, compared to the consensus estimate of $741.73 million. During the same period last year, the business posted $0.44 EPS. The business's revenue was up 24.6% compared to the same quarter last year. As a group, analysts expect that Datadog, Inc. will post 0.34 earnings per share for the current fiscal year.

Insider Activity

In other Datadog news, Director Amit Agarwal sold 25,000 shares of the business's stock in a transaction dated 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 sale, the director owned 76,052 shares in the company, valued at approximately $8,899,605.04. The trade was a 24.74% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO David M. Obstler sold 35,016 shares of the business's stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $117.40, for a total value of $4,110,878.40. Following the completion of the transaction, the chief financial officer directly owned 399,270 shares of the company's stock, valued at approximately $46,874,298. This trade represents a 8.06% decrease in their position. The disclosure for this sale can be found here. Insiders sold 833,882 shares of company stock worth $100,101,477 over the last quarter. Company insiders own 8.70% of the company's stock.

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.