WCM Investment Management LLC cut its stake in shares of Datadog, Inc. (NASDAQ:DDOG - Free Report) by 35.7% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,759,645 shares of the company's stock after selling 1,532,293 shares during the period. WCM Investment Management LLC owned about 0.81% of Datadog worth $279,000,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Keybank National Association OH grew its stake in Datadog by 36.6% in the first quarter. Keybank National Association OH now owns 13,323 shares of the company's stock valued at $1,322,000 after purchasing an additional 3,567 shares in the last quarter. DAVENPORT & Co LLC raised its stake in shares of Datadog by 56.6% during the 1st quarter. DAVENPORT & Co LLC now owns 6,058 shares of the company's stock worth $601,000 after purchasing an additional 2,190 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd lifted its holdings in shares of Datadog by 21.3% during the 1st quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 76,588 shares of the company's stock valued at $7,598,000 after buying an additional 13,474 shares during the last quarter. Vontobel Holding Ltd. lifted its holdings in shares of Datadog by 13.7% during the 1st quarter. Vontobel Holding Ltd. now owns 189,683 shares of the company's stock valued at $18,818,000 after buying an additional 22,885 shares during the last quarter. Finally, J.Safra Asset Management Corp grew its stake in shares of Datadog by 71.1% in the 1st quarter. J.Safra Asset Management Corp now owns 1,682 shares of the company's stock valued at $167,000 after buying an additional 699 shares in the last quarter. 78.29% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
Several equities analysts recently weighed in on the stock. Canaccord Genuity Group cut their price objective on shares of Datadog from $150.00 to $145.00 and set a "buy" rating on the stock in a research report on Wednesday, May 7th. Bank of America raised their price target on shares of Datadog from $138.00 to $150.00 and gave the company a "buy" rating in a report on Wednesday, June 18th. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $134.00 price objective on shares of Datadog in a research note on Wednesday, May 7th. Wells Fargo & Company lowered their target price on shares of Datadog from $140.00 to $115.00 and set an "equal weight" rating on the stock in a research report on Wednesday, May 7th. Finally, Rosenblatt Securities cut their target price on Datadog from $160.00 to $150.00 and set a "buy" rating on the stock in a report on Monday, May 5th. Six equities research analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $143.03.
Get Our Latest Research Report on Datadog
Datadog Stock Performance
DDOG stock traded up $2.68 during midday trading on Wednesday, hitting $135.01. The stock had a trading volume of 4,422,220 shares, compared to its average volume of 4,425,402. Datadog, Inc. has a 52 week low of $81.63 and a 52 week 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 has a 50-day simple moving average of $116.99 and a 200 day simple moving average of $121.01. The firm has a market capitalization of $46.63 billion, a price-to-earnings ratio of 293.51, a P/E/G ratio of 74.31 and a beta of 1.03.
Datadog (NASDAQ:DDOG - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The company reported $0.46 EPS for the quarter, topping analysts' consensus estimates of $0.42 by $0.04. Datadog had a net margin of 5.85% and a return on equity of 6.39%. The company had revenue of $761.55 million during the quarter, compared to the consensus estimate of $741.73 million. During the same period last year, the firm earned $0.44 EPS. The firm's revenue for the quarter was up 24.6% compared to the same quarter last year. As a group, equities research analysts anticipate that Datadog, Inc. will post 0.34 earnings per share for the current year.
Insider Activity at Datadog
In related news, Director Amit Agarwal sold 23,058 shares of the firm's stock in a transaction that occurred on Wednesday, June 25th. The stock was sold at an average price of $130.87, for a total transaction of $3,017,600.46. Following the completion of the transaction, the director owned 31,298 shares in the company, valued at $4,095,969.26. This trade represents a 42.42% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO David M. Obstler sold 15,000 shares of the business's stock in a transaction on Wednesday, June 18th. The shares were sold at an average price of $130.25, for a total value of $1,953,750.00. Following the completion of the sale, the chief financial officer directly owned 399,270 shares in the company, valued at approximately $52,004,917.50. This represents a 3.62% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 901,778 shares of company stock valued at $103,817,113. Corporate insiders own 8.70% of the company's stock.
About Datadog
(
Free Report)
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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