Datadog, Inc. (NASDAQ:DDOG) Stock Holdings Lessened by TD Asset Management Inc

Key Points

• TD Asset Management Inc has reduced its stake in Datadog, Inc. by 2.3%, owning 172,273 shares valued at approximately $17.1 million following the sale of 4,124 shares.
• Multiple hedge funds, including Alliancebernstein L.P, have significantly increased their investments in Datadog, resulting in a cumulative hedge fund ownership of 78.29%.
• Analysts are generally optimistic with Datadog, showing strong performance in its recent earnings report, exceeding EPS expectations with $0.46 per share and reporting a 24.6% revenue increase year-over-year.

TD Asset Management Inc lowered its holdings in Datadog, Inc. (NASDAQ:DDOG - Free Report) by 2.3% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 172,273 shares of the company's stock after selling 4,124 shares during the quarter. TD Asset Management Inc owned about 0.05% of Datadog worth $17,091,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of DDOG. OVERSEA CHINESE BANKING Corp Ltd boosted its position in Datadog by 887.0% during the first quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 25,199 shares of the company's stock worth $25,000 after purchasing an additional 22,646 shares during the period. Cornerstone Planning Group LLC boosted its position in Datadog by 96.9% during the first quarter. Cornerstone Planning Group LLC now owns 313 shares of the company's stock worth $30,000 after purchasing an additional 154 shares during the period. Putney Financial Group LLC bought a new position in Datadog during the fourth quarter worth about $32,000. Elequin Capital LP purchased a new position in Datadog during the 4th quarter valued at about $34,000. Finally, Opal Wealth Advisors LLC purchased a new position in Datadog during the 1st quarter valued at about $37,000. 78.29% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. Guggenheim reaffirmed a "sell" rating and set a $105.00 target price on shares of Datadog in a report on Tuesday, July 8th. Canaccord Genuity Group reduced their target price on Datadog from $150.00 to $145.00 and set a "buy" rating for the company in a report on Wednesday, May 7th. Macquarie cut their price objective on Datadog from $175.00 to $140.00 and set an "outperform" rating for the company in a report on Wednesday, May 7th. DA Davidson boosted their price objective on Datadog from $115.00 to $125.00 and gave the stock a "buy" rating in a report on Monday, May 5th. Finally, Barclays boosted their price objective on Datadog from $128.00 to $170.00 and gave the stock an "overweight" rating in a report on Monday, July 21st. One investment analyst has rated the stock with a sell rating, five have given a hold rating and twenty-four have issued a buy rating to the stock. According to data from MarketBeat.com, Datadog has an average rating of "Moderate Buy" and an average target price of $146.79.

Datadog Price Performance

Shares of NASDAQ DDOG traded down $4.38 on Friday, hitting $135.60. The company's stock had a trading volume of 6,063,868 shares, 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 company has a market capitalization of $46.83 billion, a price-to-earnings ratio of 294.79, a price-to-earnings-growth ratio of 76.98 and a beta of 1.02. The company has a debt-to-equity ratio of 0.34, a current ratio of 2.74 and a quick ratio of 2.74. The stock has a 50 day moving average of $133.30 and a 200-day moving average of $121.01.

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

Insider Activity at Datadog

In other Datadog news, Director Amit Agarwal sold 25,000 shares of the firm's stock in a transaction on 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 of the company's stock, valued at $8,899,605.04. This trade represents a 24.74% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Olivier Pomel sold 107,365 shares of the firm's stock in a transaction on Monday, June 9th. The stock was sold at an average price of $121.71, for a total transaction of $13,067,394.15. Following the transaction, the chief executive officer directly owned 548,715 shares of the company's stock, valued at approximately $66,784,102.65. This represents a 16.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 968,861 shares of company stock valued at $119,264,653 over the last 90 days. 8.70% of the stock is currently owned by insiders.

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.