E Fund Management Co. Ltd. Sells 2,974 Shares of Datadog, Inc. (NASDAQ:DDOG)

Key Points

• E Fund Management Co. Ltd. reduced its stake in Datadog, Inc. by 27.0%, selling 2,974 shares and bringing its total holdings to 8,043 shares valued at approximately $798,000.
• In the first quarter, OVERSEA CHINESE BANKING Corp Ltd increased its holdings in Datadog by 887.0%, acquiring a total of 25,199 shares worth $25,000 after significant purchases.
• Datadog reported a strong earnings performance, with $0.46 earnings per share for the last quarter, exceeding expectations, while achieving revenue growth of 28.1% year-over-year.

E Fund Management Co. Ltd. cut its holdings in Datadog, Inc. (NASDAQ:DDOG - Free Report) by 27.0% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 8,043 shares of the company's stock after selling 2,974 shares during the quarter. E Fund Management Co. Ltd.'s holdings in Datadog were worth $798,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in DDOG. OVERSEA CHINESE BANKING Corp Ltd increased its position in Datadog by 887.0% in 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 increased its position in Datadog by 96.9% in 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. Costello Asset Management INC acquired a new stake in Datadog in the first quarter worth about $30,000. Putney Financial Group LLC acquired a new stake in Datadog in the fourth quarter worth about $32,000. Finally, Elequin Capital LP acquired a new stake in Datadog in the fourth quarter worth about $34,000. 78.29% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on DDOG. Wells Fargo & Company decreased their target price 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 boosted their target price on Datadog from $171.00 to $179.00 and gave the stock an "overweight" rating in a research report on Thursday, August 7th. Bank of America boosted their target price on Datadog from $150.00 to $175.00 and gave the stock a "buy" rating in a research report on Monday, July 7th. Stifel Nicolaus boosted 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. Finally, Wolfe Research upgraded Datadog from a "peer perform" rating to an "outperform" rating and set a $150.00 target price for the company in a research report on Thursday, June 12th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and twenty-four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $152.93.

Datadog Trading Up 2.2%

Datadog stock traded up $2.73 during trading hours on Friday, hitting $127.25. The stock had a trading volume of 4,565,628 shares, compared to its average volume of 5,961,600. The company has a quick ratio of 2.74, a current ratio of 3.43 and a debt-to-equity ratio of 0.31. The stock has a market cap of $44.38 billion, a price-to-earnings ratio of 363.58, a P/E/G ratio of 59.60 and a beta of 1.02. Datadog, Inc. has a one year low of $81.63 and a one year high of $170.08. The business's 50 day simple moving average is $135.95 and its 200-day simple moving average is $120.36.

Datadog (NASDAQ:DDOG - Get Free Report) last posted 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 firm had revenue of $826.76 million during the quarter, compared to the consensus estimate of $791.72 million. Datadog had a return on equity of 5.04% and a net margin of 4.13%. The business's quarterly revenue was up 28.1% on a year-over-year basis. During the same period last year, the company earned $0.43 earnings per share. On average, equities analysts predict that Datadog, Inc. will post 0.34 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CFO David M. Obstler sold 15,000 shares of the firm's stock in a transaction that occurred on Thursday, July 3rd. The stock was sold at an average price of $147.43, for a total transaction of $2,211,450.00. Following the completion of the sale, the chief financial officer owned 399,270 shares of the company's stock, valued at $58,864,376.10. This trade represents a 3.62% decrease in their ownership of the stock. The transaction 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 firm's stock in a transaction that occurred on 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 directly owned 380,281 shares of the company's stock, valued at $53,543,564.80. This represents a 2.04% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 846,051 shares of company stock valued at $107,936,283. Corporate insiders own 8.70% of the company's stock.

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.