Datadog, Inc. (NASDAQ:DDOG) Shares Sold by Zweig DiMenna Associates LLC

Key Points

• Zweig DiMenna Associates LLC reduced its holdings in Datadog, Inc. by 53.6%, owning 40,239 shares now valued at approximately $3.99 million.
• Various hedge funds have adjusted their positions in Datadog, with institutional investors collectively owning 78.29% of the company's stock.
• Datadog's stock has received a consensus rating of "Moderate Buy" from analysts, with a current average target price set at $146.79.

Zweig DiMenna Associates LLC cut its position in shares of Datadog, Inc. (NASDAQ:DDOG - Free Report) by 53.6% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 40,239 shares of the company's stock after selling 46,536 shares during the quarter. Zweig DiMenna Associates LLC's holdings in Datadog were worth $3,992,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of DDOG. Brighton Jones LLC acquired a new position in Datadog during the fourth quarter worth $209,000. LPL Financial LLC increased its position in Datadog by 34.4% during the fourth quarter. LPL Financial LLC now owns 152,243 shares of the company's stock worth $21,754,000 after buying an additional 38,937 shares in the last quarter. Congress Wealth Management LLC DE purchased a new position in Datadog during the fourth quarter worth $315,000. Murphy & Mullick Capital Management Corp purchased a new position in Datadog during the fourth quarter worth $95,000. Finally, Elo Mutual Pension Insurance Co increased its position in Datadog by 4.3% during the fourth quarter. Elo Mutual Pension Insurance Co now owns 25,619 shares of the company's stock worth $3,661,000 after buying an additional 1,053 shares in the last quarter. 78.29% of the stock is owned by institutional investors and hedge funds.

Datadog Stock Up 2.2%

Shares of NASDAQ DDOG traded up $3.28 on Friday, hitting $149.84. The company had a trading volume of 4,923,366 shares, compared to its average volume of 10,657,659. Datadog, Inc. has a 12-month low of $81.63 and a 12-month high of $170.08. The business has a 50 day moving average of $130.32 and a two-hundred day moving average of $120.69. The company has a quick ratio of 2.74, a current ratio of 2.74 and a debt-to-equity ratio of 0.34. The firm has a market capitalization of $51.75 billion, a P/E ratio of 325.75, a PEG ratio of 82.40 and a beta of 1.03.

Datadog (NASDAQ:DDOG - Get Free Report) last issued its earnings results on Tuesday, May 6th. The company reported $0.46 earnings per share for the quarter, topping the consensus estimate of $0.42 by $0.04. Datadog had a return on equity of 6.39% and a net margin of 5.85%. The company had revenue of $761.55 million during the quarter, compared to the consensus estimate of $741.73 million. During the same quarter in the prior year, the business earned $0.44 earnings per share. The company's revenue was up 24.6% compared to the same quarter last year. As a group, equities research analysts forecast that Datadog, Inc. will post 0.34 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CRO Sean Michael Walters sold 9,469 shares of the company's stock in a transaction dated Thursday, July 3rd. The stock was sold at an average price of $150.00, for a total value of $1,420,350.00. Following the completion of the sale, the executive owned 212,324 shares of the company's stock, valued at $31,848,600. This represents a 4.27% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Shardul Shah sold 7,924 shares of the company's stock in a transaction dated Tuesday, July 15th. The stock was sold at an average price of $140.80, for a total value of $1,115,699.20. Following the completion of the sale, the director directly owned 380,281 shares of the company's stock, valued at $53,543,564.80. The trade was a 2.04% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 957,666 shares of company stock valued at $117,576,223. 8.70% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research firms have weighed in on DDOG. Wedbush reissued an "outperform" rating and set a $140.00 price target on shares of Datadog in a research report on Wednesday, June 11th. Morgan Stanley raised their price target on Datadog from $115.00 to $165.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 10th. Wells Fargo & Company dropped their price target on Datadog from $140.00 to $115.00 and set an "equal weight" rating for the company in a research report on Wednesday, May 7th. Cantor Fitzgerald raised their price target on Datadog from $134.00 to $171.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 16th. Finally, DA Davidson raised their price target on Datadog from $115.00 to $125.00 and gave the stock a "buy" rating in a research report on Monday, May 5th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and twenty-four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $146.79.

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.