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

China Universal Asset Management Co. Ltd. lowered its holdings in shares of Datadog, Inc. (NASDAQ:DDOG - Free Report) by 66.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor 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 reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Financial Counselors Inc. boosted its position in Datadog by 3.8% during the first quarter. Financial Counselors Inc. now owns 40,558 shares of the company's stock worth $4,024,000 after purchasing an additional 1,499 shares in the last quarter. YANKCOM Partnership boosted 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 purchasing an additional 99 shares in the last quarter. TD Private Client Wealth LLC boosted its position in Datadog by 41.2% during the first quarter. TD Private Client Wealth LLC now owns 6,660 shares of the company's stock worth $661,000 after purchasing an additional 1,943 shares in the last quarter. Envestnet Asset Management Inc. boosted its position in Datadog by 24.7% during the first quarter. Envestnet Asset Management Inc. now owns 787,344 shares of the company's stock worth $78,112,000 after purchasing an additional 156,152 shares in the last quarter. Finally, IFM Investors Pty Ltd boosted its position in Datadog by 8.7% during the first quarter. IFM Investors Pty Ltd now owns 53,558 shares of the company's stock worth $5,313,000 after purchasing an additional 4,276 shares in the last quarter. Hedge funds and other institutional investors own 78.29% of the company's stock.

Insider Buying and Selling at Datadog

In related news, CFO David M. Obstler sold 35,016 shares of Datadog stock in a transaction on Monday, June 2nd. The stock was 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 in the company, valued at approximately $46,874,298. This trade represents a 8.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CTO Alexis Le-Quoc sold 127,105 shares of Datadog stock in a transaction on Wednesday, May 7th. The shares were sold at an average price of $105.83, for a total value of $13,451,522.15. Following the completion of the transaction, the chief technology officer owned 466,535 shares of the company's stock, valued at approximately $49,373,399.05. This trade represents a 21.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 866,806 shares of company stock valued at $104,910,027. Corporate insiders own 8.70% of the company's stock.

Datadog Trading Down 3.7%

Datadog stock traded down $5.26 during mid-day trading on Thursday, hitting $137.49. The company's stock had a trading volume of 9,699,587 shares, compared to its average volume of 4,975,381. The firm has a market capitalization of $47.48 billion, a PE ratio of 298.90, a price-to-earnings-growth ratio of 78.97 and a beta of 1.03. Datadog, Inc. has a 1 year low of $81.63 and a 1 year 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 stock's fifty day moving average is $122.70 and its two-hundred day moving average is $121.06.

Datadog (NASDAQ:DDOG - Get Free Report) last issued its quarterly earnings data 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 company had revenue of $761.55 million during the quarter, compared to analyst estimates of $741.73 million. Datadog had a return on equity of 6.39% and a net margin of 5.85%. The firm's revenue for the quarter was up 24.6% compared to the same quarter last year. During the same period in the prior year, the business posted $0.44 earnings per share. On average, analysts anticipate that Datadog, Inc. will post 0.34 EPS for the current year.

Wall Street Analyst Weigh In

DDOG has been the subject of a number of research analyst reports. Stifel Nicolaus increased their target price on Datadog from $120.00 to $135.00 and gave the company a "hold" rating in a report on Thursday, June 26th. Needham & Company LLC set a $140.00 target price on Datadog and gave the company a "buy" rating in a report on Thursday, June 12th. Scotiabank set a $130.00 target price on Datadog and gave the company an "outperform" rating in a report on Wednesday, May 7th. BTIG Research set a $136.00 target price on Datadog and gave the company a "buy" rating in a report on Tuesday, May 6th. Finally, Wolfe Research raised Datadog from a "peer perform" rating to an "outperform" rating and set a $150.00 target price for the company in a report on Thursday, June 12th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and twenty-five have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $144.27.

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.