Harvest Fund Management Co. Ltd Sells 5,925 Shares of Datadog, Inc. (NASDAQ:DDOG)

Key Points

• Harvest Fund Management Co. Ltd reduced its stake in Datadog by 22.8% in Q1, ending up with 20,041 shares valued at nearly $2 million.
• Datadog's stock dropped 0.3%, with the current price at $150.27 and a market cap of $51.90 billion.
• Despite recent sell-offs by insiders, Datadog exceeded earnings expectations with a reported EPS of $0.46, showing a revenue growth of 24.6% year-over-year.

Harvest Fund Management Co. Ltd reduced its stake in Datadog, Inc. (NASDAQ:DDOG - Free Report) by 22.8% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 20,041 shares of the company's stock after selling 5,925 shares during the period. Harvest Fund Management Co. Ltd's holdings in Datadog were worth $1,986,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in DDOG. OVERSEA CHINESE BANKING Corp Ltd boosted its holdings in Datadog by 887.0% during the 1st quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 25,199 shares of the company's stock worth $25,000 after acquiring an additional 22,646 shares during the last quarter. Cornerstone Planning Group LLC boosted its holdings in Datadog by 96.9% during the 1st quarter. Cornerstone Planning Group LLC now owns 313 shares of the company's stock worth $30,000 after acquiring an additional 154 shares during the last quarter. Putney Financial Group LLC purchased a new position in shares of Datadog in the 4th quarter worth about $32,000. Elequin Capital LP purchased a new position in shares of Datadog in the 4th quarter worth about $34,000. Finally, Opal Wealth Advisors LLC purchased a new position in shares of Datadog in the 1st quarter worth about $37,000. 78.29% of the stock is currently owned by institutional investors and hedge funds.

Datadog Trading Down 6.0%

Shares of NASDAQ:DDOG traded down $8.90 during trading on Thursday, reaching $139.98. 10,855,964 shares of the company traded hands, compared to its average volume of 10,512,353. The firm has a market capitalization of $48.34 billion, a price-to-earnings ratio of 304.31, a P/E/G ratio of 81.87 and a beta of 1.03. Datadog, Inc. has a 52-week low of $81.63 and a 52-week high of $170.08. The company has a current ratio of 2.74, a quick ratio of 2.74 and a debt-to-equity ratio of 0.34. The business's fifty day moving average is $132.88 and its 200-day moving average is $121.03.

Datadog (NASDAQ:DDOG - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The company reported $0.46 earnings per share for the quarter, beating analysts' consensus estimates of $0.42 by $0.04. The firm had revenue of $761.55 million during the quarter, compared to analyst estimates of $741.73 million. Datadog had a return on equity of 6.39% and a net margin of 5.85%. The business'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, analysts forecast that Datadog, Inc. will post 0.34 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. Morgan Stanley boosted their price objective on Datadog from $115.00 to $165.00 and gave the company an "equal weight" rating in a research note on Thursday, July 10th. Wolfe Research upgraded Datadog from a "peer perform" rating to an "outperform" rating and set a $150.00 price objective on the stock in a research note on Thursday, June 12th. Stifel Nicolaus boosted their price objective on Datadog from $120.00 to $135.00 and gave the company a "hold" rating in a research note on Thursday, June 26th. UBS Group boosted their price objective on Datadog from $140.00 to $165.00 and gave the company a "buy" rating in a research note on Wednesday, July 16th. Finally, Needham & Company LLC set a $140.00 price objective on Datadog and gave the company a "buy" rating in a research note 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. According to data from MarketBeat, Datadog currently has a consensus rating of "Moderate Buy" and a consensus price target of $146.79.

Insider Buying and Selling

In related news, CTO Alexis Le-Quoc sold 41,468 shares of the firm's stock in a transaction on Monday, July 14th. The stock was sold at an average price of $139.27, for a total value of $5,775,248.36. Following the completion of the sale, the chief technology officer owned 452,769 shares of the company's stock, valued at $63,057,138.63. This trade represents a 8.39% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO David M. Obstler sold 15,000 shares of the firm's stock in a transaction on Thursday, July 3rd. The stock was sold at an average price of $147.43, for a total value of $2,211,450.00. Following the completion of the sale, the chief financial officer directly owned 399,270 shares of the company's stock, valued at $58,864,376.10. The trade was a 3.62% decrease in their position. 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 three months. 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.