IMA Advisory Services Inc. Sells 2,875 Shares of Datadog, Inc. (NASDAQ:DDOG)

IMA Advisory Services Inc. reduced its position in Datadog, Inc. (NASDAQ:DDOG - Free Report) by 8.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 31,562 shares of the company's stock after selling 2,875 shares during the quarter. IMA Advisory Services Inc.'s holdings in Datadog were worth $3,131,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of DDOG. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Datadog by 32.0% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 15,506 shares of the company's stock worth $2,216,000 after buying an additional 3,760 shares in the last quarter. LBP AM SA lifted its position in shares of Datadog by 40.2% in the first quarter. LBP AM SA now owns 419,805 shares of the company's stock valued at $41,649,000 after buying an additional 120,343 shares during the last quarter. Envestnet Asset Management Inc. lifted its position in shares of Datadog by 24.7% in the first quarter. Envestnet Asset Management Inc. now owns 787,344 shares of the company's stock valued at $78,112,000 after buying an additional 156,152 shares during the last quarter. Total Wealth Planning & Management Inc. acquired a new stake in shares of Datadog in the fourth quarter valued at approximately $314,000. Finally, Soros Fund Management LLC boosted its stake in Datadog by 14.3% in the 4th quarter. Soros Fund Management LLC now owns 192,190 shares of the company's stock valued at $27,462,000 after purchasing an additional 24,100 shares during the period. 78.29% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts recently weighed in on DDOG shares. Jefferies Financial Group restated a "buy" rating on shares of Datadog in a research report on Tuesday, May 6th. DA Davidson upped their target price on Datadog from $115.00 to $125.00 and gave the stock a "buy" rating in a report on Monday, May 5th. Canaccord Genuity Group lowered 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. Bank of America upped their target price on Datadog from $150.00 to $175.00 and gave the stock a "buy" rating in a report on Monday, July 7th. Finally, Mizuho upped their target price on Datadog from $125.00 to $145.00 and gave the stock an "outperform" rating in a report on Wednesday, July 16th. One analyst has rated the stock with a sell rating, five have issued a hold rating and twenty-four have given a buy rating to the stock. According to data from MarketBeat.com, Datadog presently has an average rating of "Moderate Buy" and a consensus price target of $146.79.

Datadog Price Performance

Shares of Datadog stock opened at $144.89 on Wednesday. Datadog, Inc. has a one year low of $81.63 and a one year high of $170.08. The stock's fifty day moving average is $127.40 and its 200 day moving average is $120.44. The stock has a market cap of $50.04 billion, a P/E ratio of 314.99, a P/E/G ratio of 79.89 and a beta of 1.03. The company has a debt-to-equity ratio of 0.34, a quick ratio of 2.74 and a current ratio of 2.74.

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

Insider Activity

In other news, CFO David M. Obstler sold 35,016 shares of the firm's stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $117.40, for a total transaction of $4,110,878.40. Following the completion of the sale, the chief financial officer owned 399,270 shares in the company, valued at $46,874,298. This trade represents a 8.06% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CTO Alexis Le-Quoc sold 127,105 shares of the firm's stock in a transaction that occurred on Wednesday, May 7th. The shares were sold at an average price of $105.83, for a total transaction of $13,451,522.15. Following the completion of the transaction, the chief technology officer directly owned 466,535 shares of the company's stock, valued at $49,373,399.05. This represents a 21.41% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 957,666 shares of company stock worth $117,576,223. Company insiders own 8.70% of the company's stock.

Datadog Company 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.

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