Diversified Trust Co Cuts Position in Datadog, Inc. (NASDAQ:DDOG)

Diversified Trust Co reduced its stake in shares of Datadog, Inc. (NASDAQ:DDOG - Free Report) by 49.6% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 4,127 shares of the company's stock after selling 4,061 shares during the period. Diversified Trust Co's holdings in Datadog were worth $409,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in DDOG. Brighton Jones LLC purchased a new stake in Datadog during the fourth quarter worth about $209,000. Oppenheimer & Co. Inc. lifted its position in shares of Datadog by 1.3% during the 4th quarter. Oppenheimer & Co. Inc. now owns 13,734 shares of the company's stock valued at $1,962,000 after acquiring an additional 178 shares during the period. Parkside Financial Bank & Trust grew its holdings in shares of Datadog by 16.5% in the 4th quarter. Parkside Financial Bank & Trust now owns 663 shares of the company's stock worth $95,000 after acquiring an additional 94 shares during the period. Fisher Asset Management LLC acquired a new stake in shares of Datadog in the 4th quarter worth approximately $203,000. Finally, Metis Global Partners LLC increased its stake in Datadog by 10.3% in the 4th quarter. Metis Global Partners LLC now owns 3,850 shares of the company's stock valued at $550,000 after purchasing an additional 359 shares in the last quarter. 78.29% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

DDOG has been the topic of a number of research analyst reports. Rosenblatt Securities decreased their target price on Datadog from $160.00 to $150.00 and set a "buy" rating on the stock in a research report on Monday, May 5th. Cantor Fitzgerald reissued an "overweight" rating and issued a $134.00 price objective on shares of Datadog in a research note on Wednesday, May 7th. Scotiabank set a $130.00 price objective on shares of Datadog and gave the company an "outperform" rating in a research note on Wednesday, May 7th. Jefferies Financial Group restated a "buy" rating on shares of Datadog in a research report on Tuesday, May 6th. Finally, Macquarie reduced their price target on shares of Datadog from $175.00 to $140.00 and set an "outperform" rating on the stock in a report on Wednesday, May 7th. Six equities research analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $143.03.

Insider Activity

In related news, CEO Olivier Pomel sold 107,365 shares of the company's stock in a transaction on Monday, April 7th. The shares were sold at an average price of $87.33, for a total transaction of $9,376,185.45. Following the completion of the sale, the chief executive officer directly owned 563,598 shares of the company's stock, valued at approximately $49,219,013.34. This represents a 16.00% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO David M. Obstler sold 35,016 shares of the stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $117.40, for a total value of $4,110,878.40. Following the completion of the sale, the chief financial officer owned 399,270 shares of the company's stock, valued at approximately $46,874,298. This represents a 8.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 901,778 shares of company stock valued at $103,817,113 over the last quarter. 8.70% of the stock is owned by insiders.

Datadog Stock Performance

Shares of DDOG stock opened at $134.33 on Tuesday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 2.74 and a current ratio of 2.74. The firm has a market capitalization of $46.39 billion, a price-to-earnings ratio of 292.03, a price-to-earnings-growth ratio of 73.07 and a beta of 1.01. Datadog, Inc. has a one year low of $81.63 and a one year high of $170.08. The company has a 50 day moving average price of $116.17 and a 200 day moving average price of $120.93.

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

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.

Want to see what other hedge funds are holding DDOG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Datadog, Inc. (NASDAQ:DDOG - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.