Man Group plc Trims Position in Datadog, Inc. (NASDAQ:DDOG)

Man Group plc cut its stake in shares of Datadog, Inc. (NASDAQ:DDOG - Free Report) by 79.8% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 75,476 shares of the company's stock after selling 298,475 shares during the period. Man Group plc's holdings in Datadog were worth $10,785,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Allworth Financial LP grew its holdings in Datadog by 7.7% during the 4th quarter. Allworth Financial LP now owns 1,043 shares of the company's stock worth $146,000 after acquiring an additional 75 shares during the last quarter. Spire Wealth Management grew its stake in shares of Datadog by 21.4% in the fourth quarter. Spire Wealth Management now owns 453 shares of the company's stock worth $65,000 after purchasing an additional 80 shares during the last quarter. Avior Wealth Management LLC increased its holdings in Datadog by 55.9% in the fourth quarter. Avior Wealth Management LLC now owns 226 shares of the company's stock valued at $32,000 after purchasing an additional 81 shares during the period. Farther Finance Advisors LLC raised its position in Datadog by 5.2% during the 4th quarter. Farther Finance Advisors LLC now owns 1,853 shares of the company's stock worth $265,000 after purchasing an additional 92 shares during the last quarter. Finally, Parkside Financial Bank & Trust lifted its holdings in Datadog by 16.5% during the 4th quarter. Parkside Financial Bank & Trust now owns 663 shares of the company's stock worth $95,000 after buying an additional 94 shares during the period. 78.29% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, Director Amit Agarwal sold 25,000 shares of the firm's stock in a transaction that occurred on Wednesday, May 14th. The shares were sold at an average price of $118.67, for a total value of $2,966,750.00. Following the completion of the transaction, the director now directly owns 82,324 shares of the company's stock, valued at approximately $9,769,389.08. This trade represents a 23.29% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CRO Sean Michael Walters sold 8,454 shares of the business's stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $102.04, for a total transaction of $862,646.16. Following the sale, the executive now directly owns 185,871 shares in the company, valued at $18,966,276.84. The trade was a 4.35% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 584,867 shares of company stock valued at $60,517,652. 11.78% of the stock is owned by company insiders.

Datadog Stock Performance

DDOG traded up $1.98 during mid-day trading on Thursday, reaching $115.67. 3,671,505 shares of the stock were exchanged, compared to its average volume of 4,373,916. Datadog, Inc. has a 1 year low of $81.63 and a 1 year high of $170.08. The stock has a market capitalization of $39.95 billion, a PE ratio of 226.81, a price-to-earnings-growth ratio of 44.03 and a beta of 1.12. The company has a 50 day moving average price of $101.98 and a two-hundred day moving average price of $125.31.

Datadog (NASDAQ:DDOG - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The company reported $0.46 earnings per share for the quarter, topping the consensus estimate of $0.42 by $0.04. The business had revenue of $761.55 million for the quarter, compared to analysts' expectations of $741.73 million. Datadog had a net margin of 6.85% and a return on equity of 8.28%. The firm's revenue for the quarter was up 24.6% compared to the same quarter last year. During the same period in the previous year, the company earned $0.44 earnings per share. Sell-side analysts expect that Datadog, Inc. will post 0.34 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Stifel Nicolaus set a $120.00 price target on Datadog in a research note on Tuesday, May 6th. Morgan Stanley decreased their target price on shares of Datadog from $143.00 to $115.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 16th. Rosenblatt Securities lowered their price target on shares of Datadog from $160.00 to $150.00 and set a "buy" rating for the company in a report on Monday, May 5th. Truist Financial reduced their price objective on shares of Datadog from $140.00 to $120.00 and set a "hold" rating on the stock in a research note on Monday, March 31st. Finally, Wells Fargo & Company lowered their target price on shares of Datadog from $140.00 to $115.00 and set an "equal weight" rating for the company in a research note on Wednesday, May 7th. Seven investment analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $141.54.

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.