Datadog, Inc. (NASDAQ:DDOG) Shares Sold by Gulf International Bank UK Ltd

Key Points

• Gulf International Bank UK Ltd reduced its holdings in Datadog, Inc. by 32.3%, selling 7,668 shares and leaving it with 16,104 shares worth approximately $1.6 million.
• CEO Olivier Pomel sold 107,365 shares of Datadog for over $13 million, marking a 16.36% decrease in his ownership stake.
• Datadog reported earnings per share of $0.46, surpassing estimates, with revenue of $826.76 million, reflecting a year-over-year growth of 28.1%.

Gulf International Bank UK Ltd lessened its holdings in shares of Datadog, Inc. (NASDAQ:DDOG - Free Report) by 32.3% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 16,104 shares of the company's stock after selling 7,668 shares during the quarter. Gulf International Bank UK Ltd's holdings in Datadog were worth $1,597,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in DDOG. Wealth Enhancement Advisory Services LLC raised its holdings in Datadog by 32.0% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 15,506 shares of the company's stock valued at $2,216,000 after acquiring an additional 3,760 shares in the last quarter. LBP AM SA raised its holdings in Datadog by 40.2% in the first quarter. LBP AM SA now owns 419,805 shares of the company's stock valued at $41,649,000 after acquiring an additional 120,343 shares in the last quarter. Motley Fool Asset Management LLC raised its holdings in Datadog by 149.0% in the first quarter. Motley Fool Asset Management LLC now owns 38,132 shares of the company's stock valued at $3,783,000 after acquiring an additional 22,818 shares in the last quarter. Envestnet Asset Management Inc. raised its holdings in Datadog by 24.7% in the first quarter. Envestnet Asset Management Inc. now owns 787,344 shares of the company's stock valued at $78,112,000 after acquiring an additional 156,152 shares in the last quarter. Finally, Total Wealth Planning & Management Inc. acquired a new stake in Datadog in the fourth quarter valued at approximately $314,000. Institutional investors and hedge funds own 78.29% of the company's stock.

Insider Transactions at Datadog

In related news, CEO Olivier Pomel sold 107,365 shares of the business's stock in a transaction dated Monday, June 9th. The shares were sold at an average price of $121.71, for a total value of $13,067,394.15. Following the completion of the transaction, the chief executive officer owned 548,715 shares of the company's stock, valued at approximately $66,784,102.65. The trade was a 16.36% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Amit Agarwal sold 25,000 shares of the business's stock in a transaction dated Wednesday, May 28th. The shares were sold at an average price of $117.02, for a total transaction of $2,925,500.00. Following the completion of the transaction, the director directly owned 76,052 shares of the company's stock, valued at $8,899,605.04. The trade was a 24.74% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 846,051 shares of company stock worth $107,936,283. Corporate insiders own 8.70% of the company's stock.

Analyst Upgrades and Downgrades

DDOG has been the topic of several analyst reports. Barclays set a $170.00 target price on shares of Datadog and gave the company an "overweight" rating in a report on Thursday, August 7th. Canaccord Genuity Group raised their target price on shares of Datadog from $145.00 to $160.00 and gave the company a "buy" rating in a report on Friday, August 8th. Guggenheim reissued a "sell" rating and set a $105.00 price objective on shares of Datadog in a report on Tuesday, July 8th. Wedbush reissued an "outperform" rating and set a $140.00 price objective on shares of Datadog in a report on Wednesday, June 11th. Finally, Cantor Fitzgerald raised their price objective on shares of Datadog from $171.00 to $179.00 and gave the stock an "overweight" rating in a report on Thursday, August 7th. One research analyst has rated the stock with a sell rating, five have given a hold rating and twenty-four have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $152.93.

Datadog Trading Down 3.3%

NASDAQ:DDOG opened at $124.52 on Friday. The company has a market capitalization of $43.00 billion, a PE ratio of 355.78, a price-to-earnings-growth ratio of 61.60 and a beta of 1.02. The company has a quick ratio of 2.74, a current ratio of 3.43 and a debt-to-equity ratio of 0.31. Datadog, Inc. has a 52-week low of $81.63 and a 52-week high of $170.08. The stock has a fifty day simple moving average of $135.84 and a 200-day simple moving average of $120.53.

Datadog (NASDAQ:DDOG - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The company reported $0.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.41 by $0.05. The business had revenue of $826.76 million during the quarter, compared to the consensus estimate of $791.72 million. Datadog had a return on equity of 5.04% and a net margin of 4.13%. The business's revenue was up 28.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.43 EPS. On average, equities research analysts expect that Datadog, Inc. will post 0.34 earnings per share for the current fiscal year.

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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