Datadog, Inc. (NASDAQ:DDOG) Shares Sold by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. decreased its stake in Datadog, Inc. (NASDAQ:DDOG - Free Report) by 88.9% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 15,505 shares of the company's stock after selling 124,402 shares during the period. Oppenheimer Asset Management Inc.'s holdings in Datadog were worth $1,538,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Pursue Wealth Partners LLC raised its position in Datadog by 38.5% in the 1st quarter. Pursue Wealth Partners LLC now owns 6,369 shares of the company's stock valued at $632,000 after purchasing an additional 1,772 shares during the last quarter. Kentucky Retirement Systems Insurance Trust Fund purchased a new stake in Datadog in the 1st quarter valued at $877,000. Kentucky Retirement Systems purchased a new stake in Datadog in the 1st quarter valued at $2,058,000. Center for Financial Planning Inc. raised its position in Datadog by 1,189.7% in the 1st quarter. Center for Financial Planning Inc. now owns 374 shares of the company's stock valued at $37,000 after purchasing an additional 345 shares during the last quarter. Finally, Nilsine Partners LLC raised its position in Datadog by 7.4% in the 1st quarter. Nilsine Partners LLC now owns 2,602 shares of the company's stock valued at $258,000 after purchasing an additional 179 shares during the last quarter. Institutional investors and hedge funds own 78.29% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Wedbush reiterated an "outperform" rating and issued a $140.00 price target on shares of Datadog in a research report on Wednesday, June 11th. Truist Financial reduced their price target on shares of Datadog from $140.00 to $120.00 and set a "hold" rating for the company in a research report on Monday, March 31st. DA Davidson upped their price target on shares of Datadog from $115.00 to $125.00 and gave the company a "buy" rating in a research report on Monday, May 5th. Wells Fargo & Company cut their price objective 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. Finally, Jefferies Financial Group restated a "buy" rating on shares of Datadog in a research report on Tuesday, May 6th. Six investment analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $143.03.

Insider Activity at Datadog

In related news, General Counsel Kerry Acocella sold 5,099 shares of the firm's stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $116.84, for a total transaction of $595,767.16. Following the sale, the general counsel now owns 115,490 shares in the company, valued at approximately $13,493,851.60. This trade represents a 4.23% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Olivier Pomel sold 100,754 shares of the firm's stock in a transaction that occurred on Wednesday, June 25th. The stock was sold at an average price of $131.88, for a total transaction of $13,287,437.52. Following the sale, the chief executive officer now owns 548,715 shares in the company, valued at approximately $72,364,534.20. This trade represents a 15.51% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 901,778 shares of company stock valued at $103,817,113. Insiders own 8.70% of the company's stock.

Datadog Price Performance

Shares of NASDAQ DDOG opened at $132.08 on Friday. The stock has a market cap of $45.61 billion, a price-to-earnings ratio of 287.14, a PEG ratio of 72.53 and a beta of 1.01. Datadog, Inc. has a 52 week low of $81.63 and a 52 week high of $170.08. The company's 50-day moving average price is $115.26 and its 200 day moving average price is $121.55. 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 issued its quarterly earnings data on Tuesday, May 6th. The company reported $0.46 EPS for the quarter, beating analysts' consensus estimates of $0.42 by $0.04. The firm had revenue of $761.55 million for the quarter, compared to analysts' expectations of $741.73 million. Datadog had a net margin of 5.85% and a return on equity of 6.39%. The firm's revenue was up 24.6% on a year-over-year basis. During the same period in the prior year, the company earned $0.44 EPS. As a group, research analysts forecast that Datadog, Inc. will post 0.34 earnings per share for the current fiscal year.

About Datadog

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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