Datadog, Inc. (NASDAQ:DDOG) Position Cut by Neuberger Berman Group LLC

Key Points

• Neuberger Berman Group LLC reduced its holdings in Datadog, Inc. by 36.4%, selling 271,890 shares, leaving them with 475,820 shares valued at approximately $47 million.
• Datadog reported an earnings per share (EPS) of $0.46 for the last quarter, exceeding analyst expectations of $0.41, and experienced a 28.1% increase in revenue year-over-year.
• Analysts have varying price targets for Datadog, with a consensus rating of "Moderate Buy" and an average price target of $151.72, suggesting potential growth for the stock.

Neuberger Berman Group LLC cut its holdings in Datadog, Inc. (NASDAQ:DDOG - Free Report) by 36.4% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 475,820 shares of the company's stock after selling 271,890 shares during the period. Neuberger Berman Group LLC owned about 0.14% of Datadog worth $47,206,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Tokio Marine Asset Management Co. Ltd. boosted its position in shares of Datadog by 5.8% in the 1st quarter. Tokio Marine Asset Management Co. Ltd. now owns 9,460 shares of the company's stock worth $939,000 after buying an additional 522 shares in the last quarter. National Pension Service lifted its holdings in Datadog by 11.5% in the 1st quarter. National Pension Service now owns 460,312 shares of the company's stock valued at $45,668,000 after purchasing an additional 47,334 shares in the last quarter. FengHe Fund Management Pte. Ltd. purchased a new position in Datadog in the 1st quarter valued at about $2,450,000. Russell Investments Group Ltd. lifted its holdings in Datadog by 188.1% in the 1st quarter. Russell Investments Group Ltd. now owns 597,592 shares of the company's stock valued at $59,322,000 after purchasing an additional 390,199 shares in the last quarter. Finally, Resona Asset Management Co. Ltd. lifted its holdings in Datadog by 3.4% in the 1st quarter. Resona Asset Management Co. Ltd. now owns 86,646 shares of the company's stock valued at $8,622,000 after purchasing an additional 2,843 shares in the last quarter. 78.29% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have issued reports on DDOG. Needham & Company LLC restated a "buy" rating and issued a $175.00 target price on shares of Datadog in a report on Thursday. Scotiabank restated an "outperform" rating on shares of Datadog in a report on Friday, August 8th. Wolfe Research upgraded shares of Datadog from a "peer perform" rating to an "outperform" rating and set a $150.00 price objective on the stock in a report on Thursday, June 12th. Sanford C. Bernstein reiterated an "outperform" rating on shares of Datadog in a report on Friday, August 8th. Finally, Barclays set a $170.00 price objective on shares of Datadog and gave the stock an "overweight" rating in a report on Thursday, August 7th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and twenty-four have given a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $152.93.

Datadog Stock Up 2.2%

Shares of DDOG stock traded up $2.73 during mid-day trading on Friday, reaching $127.25. 4,565,628 shares of the company were exchanged, compared to its average volume of 5,961,600. Datadog, Inc. has a fifty-two week low of $81.63 and a fifty-two week high of $170.08. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.74 and a current ratio of 3.43. The company has a market capitalization of $44.38 billion, a P/E ratio of 363.58, a P/E/G ratio of 59.60 and a beta of 1.02. The business's 50 day simple moving average is $135.95 and its 200 day simple moving average is $120.36.

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

Insider Buying and Selling at Datadog

In other Datadog news, Director Amit Agarwal sold 25,000 shares of Datadog stock in a transaction on Wednesday, May 28th. The shares were sold at an average price of $117.02, for a total value of $2,925,500.00. Following the completion of the transaction, the director owned 76,052 shares of the company's stock, valued at $8,899,605.04. The trade was a 24.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, 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 transaction 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 represents a 8.06% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 846,051 shares of company stock worth $107,936,283. Company insiders own 8.70% of the company's stock.

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.