Commonwealth Equity Services LLC Has $20.90 Million Stock Position in Datadog, Inc. (NASDAQ:DDOG)

Key Points

• Commonwealth Equity Services LLC decreased its stake in Datadog, cutting its holdings by 2.4% to approximately 210,611 shares, valued at about $20.9 million.
• During the fourth quarter, several institutional investors made significant adjustments to their positions in Datadog, with Aster Capital Management increasing its stake by 644.4%.
• Datadog reported quarterly earnings of $0.46 per share, surpassing analysts' estimates, with revenues reaching $761.55 million—a 24.6% increase year-over-year.

Commonwealth Equity Services LLC decreased its holdings in shares of Datadog, Inc. (NASDAQ:DDOG - Free Report) by 2.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 210,611 shares of the company's stock after selling 5,133 shares during the period. Commonwealth Equity Services LLC owned about 0.06% of Datadog worth $20,895,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Putney Financial Group LLC acquired a new position in shares of Datadog in the 4th quarter valued at about $32,000. Elequin Capital LP bought a new position in Datadog in the fourth quarter worth about $34,000. Coppell Advisory Solutions LLC boosted its stake in Datadog by 178.8% in the fourth quarter. Coppell Advisory Solutions LLC now owns 276 shares of the company's stock valued at $40,000 after acquiring an additional 177 shares during the period. Cornerstone Planning Group LLC boosted its stake in Datadog by 96.9% in the first quarter. Cornerstone Planning Group LLC now owns 313 shares of the company's stock valued at $30,000 after acquiring an additional 154 shares during the period. Finally, Itau Unibanco Holding S.A. grew its holdings in shares of Datadog by 417.7% during the fourth quarter. Itau Unibanco Holding S.A. now owns 321 shares of the company's stock valued at $46,000 after purchasing an additional 259 shares during the last quarter. 78.29% of the stock is owned by institutional investors and hedge funds.

Datadog Price Performance

Shares of NASDAQ:DDOG traded down $5.47 during trading hours on Friday, hitting $130.91. 10,857,862 shares of the company's stock traded hands, compared to its average volume of 5,947,690. The company's fifty day simple moving average is $134.90 and its two-hundred day simple moving average is $120.94. The company has a market cap of $45.21 billion, a price-to-earnings ratio of 284.59, a price-to-earnings-growth ratio of 75.32 and a beta of 1.02. The company has a debt-to-equity ratio of 0.34, a quick ratio of 2.74 and a current ratio of 2.74. Datadog, Inc. has a 52 week low of $81.63 and a 52 week high of $170.08.

Datadog (NASDAQ:DDOG - Get Free Report) last released its earnings results on Thursday, August 7th. The company reported $0.46 EPS for the quarter, beating the consensus estimate of $0.41 by $0.05. The business had revenue of $826.76 million during the quarter, compared to analyst estimates of $791.72 million. Datadog had a net margin of 5.85% and a return on equity of 6.39%. The business's quarterly revenue was up 28.1% on a year-over-year basis. During the same period in the prior year, the business earned $0.43 earnings per share. As a group, equities analysts anticipate that Datadog, Inc. will post 0.34 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts recently issued reports on the company. UBS Group set a $165.00 price target on Datadog and gave the stock a "buy" rating in a report on Thursday. Stifel Nicolaus increased their target price on Datadog from $120.00 to $135.00 and gave the stock a "hold" rating in a research report on Thursday, June 26th. Needham & Company LLC set a $140.00 price target on shares of Datadog and gave the company a "buy" rating in a report on Thursday, June 12th. Mizuho upped their price target on shares of Datadog from $145.00 to $155.00 and gave the stock an "outperform" rating in a research report on Friday. Finally, Jefferies Financial Group set a $160.00 price objective on shares of Datadog and gave the company a "buy" rating in a research report on Monday. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and twenty-four have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $151.72.

Insider Buying and Selling at Datadog

In other news, CEO Olivier Pomel sold 11,195 shares of the company's stock in a transaction on Monday, July 28th. The stock was sold at an average price of $150.82, for a total transaction of $1,688,429.90. Following the completion of the sale, the chief executive officer directly owned 548,715 shares of the company's stock, valued at $82,757,196.30. This represents a 2.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Shardul Shah sold 7,924 shares of the business'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 sale, the director owned 380,281 shares in the company, valued at approximately $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 quarter, insiders sold 835,918 shares of company stock worth $106,308,669. 8.70% of the stock is owned by insiders.

Datadog Company 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.