Datadog, Inc. (NASDAQ:DDOG) Stake Lessened by Invesco Ltd.

Key Points

• Invesco Ltd. has reduced its stake in Datadog, Inc. by 45.7% in the first quarter, now owning approximately 2.39 million shares valued at $237.3 million.
• Insider sales have occurred, with CFO David M. Obstler selling 35,016 shares and CTO Alexis Le-Quoc selling 127,105 shares, reflecting significant decreases in their ownership.
• Despite the reductions, Datadog has seen a consensus analyst rating of **"Moderate Buy"** with an average target price of **$151.72**, following strong quarterly earnings exceeding expectations.

Invesco Ltd. cut its holdings in Datadog, Inc. (NASDAQ:DDOG - Free Report) by 45.7% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 2,391,674 shares of the company's stock after selling 2,016,326 shares during the period. Invesco Ltd. owned 0.70% of Datadog worth $237,278,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. OVERSEA CHINESE BANKING Corp Ltd raised its holdings in Datadog by 887.0% in the 1st quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 25,199 shares of the company's stock valued at $25,000 after acquiring an additional 22,646 shares during the last quarter. Cornerstone Planning Group LLC increased its holdings in shares of 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 buying an additional 154 shares during the last quarter. Costello Asset Management INC acquired a new stake in shares of Datadog during the 1st quarter worth $30,000. Putney Financial Group LLC acquired a new stake in shares of Datadog during the 4th quarter worth $32,000. Finally, Elequin Capital LP acquired a new stake in shares of Datadog during the 4th quarter worth $34,000. 78.29% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Datadog news, CRO Sean Michael Walters sold 9,469 shares of the firm's stock in a transaction that occurred on Thursday, July 3rd. The shares were sold at an average price of $150.00, for a total value of $1,420,350.00. Following the sale, the executive owned 212,324 shares in the company, valued at approximately $31,848,600. This trade represents a 4.27% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Olivier Pomel sold 32,923 shares of the firm's stock in a transaction that occurred on Monday, August 11th. The shares were sold at an average price of $130.38, for a total transaction of $4,292,500.74. Following the completion of the sale, the chief executive officer owned 548,715 shares in the company, valued at $71,541,461.70. The trade was a 5.66% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 846,051 shares of company stock valued at $107,936,283 over the last quarter. Corporate insiders own 8.70% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on DDOG. Rosenblatt Securities dropped their price objective on Datadog from $160.00 to $150.00 and set a "buy" rating for the company in a report on Monday, May 5th. Wedbush reaffirmed an "outperform" rating and set a $140.00 price target on shares of Datadog in a research report on Wednesday, June 11th. Wells Fargo & Company decreased their price target on shares of Datadog from $140.00 to $115.00 and set an "equal weight" rating for the company in a research report on Wednesday, May 7th. Needham & Company LLC reaffirmed a "buy" rating and set a $175.00 price target on shares of Datadog in a research report on Thursday. Finally, DA Davidson set a $160.00 price target on shares of Datadog and gave the stock a "buy" rating in a research report on Tuesday, August 5th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and twenty-four have assigned a buy rating to the company's stock. According to MarketBeat, Datadog presently has an average rating of "Moderate Buy" and an average price target of $152.93.

Datadog Stock Performance

DDOG traded up $2.73 on Friday, hitting $127.25. 4,565,628 shares of the company's stock were exchanged, compared to its average volume of 5,961,600. The firm has a market cap of $44.38 billion, a PE ratio of 363.58, a P/E/G ratio of 59.60 and a beta of 1.02. Datadog, Inc. has a twelve month low of $81.63 and a twelve month high of $170.08. The stock has a fifty day moving average of $135.95 and a two-hundred day moving average of $120.36. The company has a current ratio of 3.43, a quick ratio of 2.74 and a debt-to-equity ratio of 0.31.

Datadog (NASDAQ:DDOG - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The company reported $0.46 earnings per share for the quarter, topping the consensus estimate of $0.41 by $0.05. The firm had revenue of $826.76 million for the quarter, compared to analyst estimates of $791.72 million. Datadog had a net margin of 4.13% and a return on equity of 5.04%. Datadog's quarterly revenue was up 28.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.43 earnings per share. On average, research analysts anticipate that Datadog, Inc. will post 0.34 earnings per share for the current fiscal year.

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.