Datadog, Inc. (NASDAQ:DDOG) is Strategy Capital LLC's 6th Largest Position

Key Points

• Strategy Capital LLC reduced its stake in Datadog, Inc. by 6.6% during the first quarter, owning 761,609 shares after selling 53,736 shares.
• Several institutional investors, including Motley Fool Asset Management LLC, increased their holdings in Datadog significantly, with Motley Fool raising its stake by 149.0%.
• Datadog recently reported earnings of $0.46 per share, beating analyst expectations, and its revenue increased by 28.1% compared to the same quarter last year.

Strategy Capital LLC reduced its holdings in shares of Datadog, Inc. (NASDAQ:DDOG - Free Report) by 6.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 761,609 shares of the company's stock after selling 53,736 shares during the period. Datadog comprises 7.2% of Strategy Capital LLC's investment portfolio, making the stock its 6th largest holding. Strategy Capital LLC owned approximately 0.22% of Datadog worth $75,559,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the business. Callan Family Office LLC increased its position in shares of Datadog by 19.1% in the 1st quarter. Callan Family Office LLC now owns 9,235 shares of the company's stock valued at $916,000 after purchasing an additional 1,481 shares during the last quarter. HighTower Advisors LLC grew its position in shares of Datadog by 5.7% during the first quarter. HighTower Advisors LLC now owns 46,662 shares of the company's stock worth $4,629,000 after acquiring an additional 2,506 shares during the last quarter. Motley Fool Asset Management LLC grew its position in Datadog by 149.0% during the 1st quarter. Motley Fool Asset Management LLC now owns 38,132 shares of the company's stock worth $3,783,000 after purchasing an additional 22,818 shares during the last quarter. Nuveen LLC acquired a new position in Datadog in the first quarter valued at $94,970,000. Finally, Mizuho Markets Americas LLC acquired a new position in Datadog in the first quarter valued at $15,526,000. 78.29% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. Monness Crespi & Hardt upped their target price on shares of Datadog from $160.00 to $185.00 and gave the company a "buy" rating in a report on Thursday, August 7th. Jefferies Financial Group upped their target price on shares of Datadog from $135.00 to $160.00 and gave the company a "buy" rating in a report on Monday, August 4th. Wedbush reaffirmed an "outperform" rating and issued a $140.00 target price on shares of Datadog in a report on Wednesday, June 11th. Rosenblatt Securities reduced their target price on shares of Datadog from $160.00 to $150.00 and set a "buy" rating for the company in a report on Monday, May 5th. Finally, Macquarie reduced their target price on shares of Datadog from $175.00 to $140.00 and set an "outperform" rating for the company in a report on Wednesday, May 7th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and twenty-four have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $152.93.

Insider Buying and Selling at Datadog

In other Datadog news, Director Amit Agarwal sold 25,000 shares of the firm's stock in a transaction dated Wednesday, May 28th. The shares were sold at an average price of $117.02, for a total transaction of $2,925,500.00. Following the completion of the transaction, the director directly owned 76,052 shares in the company, valued at approximately $8,899,605.04. This trade represents a 24.74% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Olivier Pomel sold 107,365 shares of the firm's stock in a transaction dated 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 transaction, the chief executive officer owned 548,715 shares of the company's stock, valued at $66,784,102.65. This trade represents a 16.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 846,051 shares of company stock valued at $107,936,283. Insiders own 8.70% of the company's stock.

Datadog Price Performance

Shares of NASDAQ DDOG traded down $4.19 during midday trading on Thursday, hitting $124.52. The company had a trading volume of 6,428,457 shares, compared to its average volume of 5,965,809. The company has a quick ratio of 2.74, a current ratio of 3.43 and a debt-to-equity ratio of 0.31. Datadog, Inc. has a twelve month low of $81.63 and a twelve month high of $170.08. The business has a 50-day simple moving average of $135.79 and a two-hundred day simple moving average of $120.65. The firm has a market capitalization of $43.00 billion, a price-to-earnings ratio of 355.78, a price-to-earnings-growth ratio of 61.72 and a beta of 1.02.

Datadog (NASDAQ:DDOG - Get Free Report) last posted its earnings results on Thursday, August 7th. The company reported $0.46 earnings per share for the quarter, beating the consensus estimate of $0.41 by $0.05. Datadog had a net margin of 4.13% and a return on equity of 5.04%. The firm had revenue of $826.76 million during the quarter, compared to the consensus estimate of $791.72 million. During the same period last year, the firm posted $0.43 EPS. The firm's revenue for the quarter was up 28.1% on a year-over-year basis. Equities research analysts anticipate that Datadog, Inc. will post 0.34 earnings per share for the current year.

Datadog 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.