Datadog, Inc. (NASDAQ:DDOG) Shares Sold by EFG Asset Management Americas Corp.

Key Points

• EFG Asset Management Americas Corp. has reduced its stake in Datadog, Inc. by 35.7%, selling 9,007 shares and ending up with 16,192 shares valued at approximately $1.6 million.
• Recent transactions reveal that CEO Olivier Pomel sold 107,365 shares for over $13 million, while director Matthew Jacobson sold 47,306 shares, showing significant insider selling activity.
• Datadog's stock is currently down 0.9%, with a market cap of $51.42 billion and a consensus target price of $146.79, indicating a generally positive outlook from analysts.

EFG Asset Management Americas Corp. trimmed its position in Datadog, Inc. (NASDAQ:DDOG - Free Report) by 35.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 16,192 shares of the company's stock after selling 9,007 shares during the quarter. EFG Asset Management Americas Corp.'s holdings in Datadog were worth $1,606,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. OVERSEA CHINESE BANKING Corp Ltd lifted its stake in shares of Datadog by 887.0% in the 1st quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 25,199 shares of the company's stock worth $25,000 after acquiring an additional 22,646 shares during the period. Cornerstone Planning Group LLC lifted its position in shares of Datadog by 96.9% during the first quarter. Cornerstone Planning Group LLC now owns 313 shares of the company's stock worth $30,000 after purchasing an additional 154 shares in the last quarter. Putney Financial Group LLC acquired a new stake in Datadog in the fourth quarter valued at $32,000. Elequin Capital LP bought a new stake in Datadog during the fourth quarter valued at $34,000. Finally, Opal Wealth Advisors LLC bought a new stake in Datadog during the first quarter valued at $37,000. 78.29% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Datadog news, CEO Olivier Pomel sold 107,365 shares of the company's stock in a transaction dated 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 transaction, the chief executive officer directly owned 548,715 shares in the company, valued at $66,784,102.65. This represents a 16.36% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Matthew Jacobson sold 47,306 shares of the company's stock in a transaction dated Wednesday, May 7th. The stock was sold at an average price of $107.40, for a total value of $5,080,664.40. Following the completion of the transaction, the director owned 25,468 shares in the company, valued at $2,735,263.20. This represents a 65.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 968,861 shares of company stock worth $119,264,653. 8.70% of the stock is owned by corporate insiders.

Datadog Stock Down 0.9%

DDOG stock opened at $148.88 on Thursday. The stock has a market cap of $51.42 billion, a P/E ratio of 323.66, a P/E/G ratio of 82.64 and a beta of 1.03. The stock's fifty day simple moving average is $132.39 and its two-hundred day simple moving average is $121.02. 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, Inc. has a 1-year low of $81.63 and a 1-year high of $170.08.

Datadog (NASDAQ:DDOG - Get Free Report) last released its quarterly earnings data 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 company had revenue of $761.55 million for the quarter, compared to analyst estimates of $741.73 million. During the same period in the previous year, the company posted $0.44 EPS. The firm's revenue for the quarter was up 24.6% compared to the same quarter last year. Analysts expect that Datadog, Inc. will post 0.34 EPS for the current year.

Wall Street Analyst Weigh In

DDOG has been the subject of several recent research reports. Wells Fargo & Company lowered their price target on shares of Datadog from $140.00 to $115.00 and set an "equal weight" rating for the company in a research report on Wednesday, May 7th. Royal Bank Of Canada reiterated an "outperform" rating and issued a $119.00 target price on shares of Datadog in a research report on Wednesday, May 7th. Guggenheim reiterated a "sell" rating and issued a $105.00 target price on shares of Datadog in a research report on Tuesday, July 8th. Cantor Fitzgerald increased their target price on shares of Datadog from $134.00 to $171.00 and gave the company an "overweight" rating in a research report on Wednesday, July 16th. Finally, Stifel Nicolaus raised their price objective on shares of Datadog from $120.00 to $135.00 and gave the company a "hold" rating in a research report on Thursday, June 26th. One 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.com, Datadog currently has an average rating of "Moderate Buy" and a consensus target price of $146.79.

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.

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