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Datadog, Inc. (NASDAQ:DDOG) Shares Sold by Zurcher Kantonalbank Zurich Cantonalbank

Datadog logo with Computer and Technology background

Key Points

  • Zurcher Kantonalbank reduced its holdings in Datadog by 29.7% in the 1st quarter, leaving them with 71,541 shares valued at approximately $7.1 million.
  • Multiple hedge funds, including Wealth Enhancement Advisory Services LLC and LBP AM SA, increased their stakes in Datadog, reflecting a trend of institutional investment with 78.29% of shares owned by institutional investors.
  • Analysts' target prices for Datadog vary widely, with upgrades from Cantor Fitzgerald to $171.00 while Wells Fargo lowered their target to $115.00, highlighting differing outlooks on the stock's performance.
  • Five stocks to consider instead of Datadog.

Zurcher Kantonalbank Zurich Cantonalbank trimmed its holdings in Datadog, Inc. (NASDAQ:DDOG - Free Report) by 29.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 71,541 shares of the company's stock after selling 30,259 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank's holdings in Datadog were worth $7,098,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in DDOG. ARK Investment Management LLC increased its holdings in shares of Datadog by 9.7% in the first quarter. ARK Investment Management LLC now owns 139,617 shares of the company's stock valued at $13,851,000 after purchasing an additional 12,327 shares during the last quarter. Allen Investment Management LLC grew its holdings in Datadog by 15.1% in the 1st quarter. Allen Investment Management LLC now owns 204,366 shares of the company's stock valued at $20,275,000 after buying an additional 26,851 shares in the last quarter. HB Wealth Management LLC increased its stake in shares of Datadog by 43.7% in the 1st quarter. HB Wealth Management LLC now owns 3,490 shares of the company's stock worth $346,000 after acquiring an additional 1,062 shares during the last quarter. Mediolanum International Funds Ltd raised its holdings in shares of Datadog by 78.2% during the 1st quarter. Mediolanum International Funds Ltd now owns 188,697 shares of the company's stock worth $19,077,000 after acquiring an additional 82,817 shares during the period. Finally, Nvwm LLC boosted its position in shares of Datadog by 17.8% during the 1st quarter. Nvwm LLC now owns 11,791 shares of the company's stock valued at $1,170,000 after acquiring an additional 1,784 shares during the last quarter. 78.29% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Datadog

In other Datadog news, CEO Olivier Pomel sold 107,365 shares of the business's stock in a transaction that occurred on Monday, June 9th. The shares were sold at an average price of $121.71, for a total transaction of $13,067,394.15. Following the completion of the transaction, the chief executive officer owned 548,715 shares in the company, valued at $66,784,102.65. The trade was a 16.36% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO David M. Obstler sold 35,016 shares of the business's stock in a transaction that occurred 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 transaction, the chief financial officer owned 399,270 shares of the company's stock, valued at $46,874,298. This trade represents a 8.06% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 968,861 shares of company stock worth $119,264,653 over the last ninety days. 8.70% of the stock is currently owned by insiders.

Datadog Stock Down 3.1%

DDOG traded down $4.38 during trading hours on Friday, hitting $135.60. 6,063,868 shares of the company's stock were exchanged, compared to its average volume of 9,555,494. Datadog, Inc. has a 12-month low of $81.63 and a 12-month high of $170.08. The firm has a 50 day moving average of $133.30 and a 200 day moving average of $121.01. The firm has a market cap of $46.83 billion, a P/E ratio of 294.79, a price-to-earnings-growth ratio of 76.98 and a beta of 1.02. 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 (NASDAQ:DDOG - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The company reported $0.46 EPS for the quarter, topping the consensus estimate 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 analysts' expectations of $741.73 million. During the same quarter in the previous year, the business posted $0.44 EPS. The firm's revenue was up 24.6% on a year-over-year basis. Analysts predict that Datadog, Inc. will post 0.34 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have commented on DDOG. Canaccord Genuity Group reduced their target price on shares of Datadog from $150.00 to $145.00 and set a "buy" rating on the stock in a research note on Wednesday, May 7th. Wolfe Research raised shares of Datadog from a "peer perform" rating to an "outperform" rating and set a $150.00 price target on the stock in a research report on Thursday, June 12th. BTIG Research set a $136.00 price objective on Datadog and gave the company a "buy" rating in a report on Tuesday, May 6th. Guggenheim reissued a "sell" rating and set a $105.00 target price on shares of Datadog in a research note on Tuesday, July 8th. Finally, Barclays lifted their target price on Datadog from $128.00 to $170.00 and gave the company an "overweight" rating in a research report on Monday, July 21st. 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. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $146.79.

View Our Latest Analysis on Datadog

Datadog Company Profile

(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.

See Also

Institutional Ownership by Quarter for Datadog (NASDAQ:DDOG)

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