Datadog, Inc. (NASDAQ:DDOG) Holdings Lowered by Nikko Asset Management Americas Inc.

Key Points

• Nikko Asset Management Americas Inc. has reduced its holdings in Datadog, Inc. by 5.1%, selling 10,137 shares during the first quarter, bringing their total ownership to 186,948 shares valued at approximately $18.5 million.
• Several institutional investors are actively buying and selling shares of Datadog, with 78.29% of the company's stock now owned by institutional investors.
• Research analysts have set a consensus price target of $146.79 for Datadog, with ratings ranging from "sell" to "buy" from various analysts.

Nikko Asset Management Americas Inc. cut its holdings in Datadog, Inc. (NASDAQ:DDOG - Free Report) by 5.1% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 186,948 shares of the company's stock after selling 10,137 shares during the quarter. Nikko Asset Management Americas Inc. owned approximately 0.05% of Datadog worth $18,530,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in DDOG. OVERSEA CHINESE BANKING Corp Ltd increased its holdings in shares of Datadog by 887.0% during the first 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 in the last quarter. Cornerstone Planning Group LLC increased its holdings in Datadog by 96.9% in 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 period. Putney Financial Group LLC acquired a new position in Datadog in the 4th quarter worth approximately $32,000. Elequin Capital LP acquired a new position in Datadog in the 4th quarter worth approximately $34,000. Finally, Opal Wealth Advisors LLC acquired a new position in Datadog in the 1st quarter worth approximately $37,000. 78.29% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CFO David M. Obstler sold 15,000 shares of Datadog stock in a transaction dated 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 in the company, valued at approximately $58,864,376.10. This trade represents a 3.62% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Olivier Pomel sold 32,924 shares of Datadog stock in a transaction dated Tuesday, July 8th. The stock was sold at an average price of $146.05, for a total value of $4,808,550.20. Following the sale, the chief executive officer owned 548,715 shares of the company's stock, valued at approximately $80,139,825.75. This represents a 5.66% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 957,666 shares of company stock worth $117,576,223 in the last quarter. Corporate insiders own 8.70% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on DDOG shares. UBS Group increased their price target on shares of Datadog from $140.00 to $165.00 and gave the stock a "buy" rating in a report on Wednesday, July 16th. DA Davidson lifted their target price on shares of Datadog from $115.00 to $125.00 and gave the company a "buy" rating in a report on Monday, May 5th. Rosenblatt Securities reduced their price objective on shares of Datadog from $160.00 to $150.00 and set a "buy" rating for the company in a research report on Monday, May 5th. Mizuho upped their price objective on shares of Datadog from $125.00 to $145.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 16th. Finally, Bank of America upped their price objective on shares of Datadog from $150.00 to $175.00 and gave the company a "buy" rating in a report on Monday, July 7th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and twenty-four have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $146.79.

Datadog Price Performance

Shares of NASDAQ:DDOG traded up $0.93 during midday trading on Monday, hitting $150.77. 2,647,060 shares of the stock were exchanged, compared to its average volume of 10,676,036. The stock has a market cap of $52.07 billion, a P/E ratio of 305.80, a PEG ratio of 82.40 and a beta of 1.03. The company has a current ratio of 2.74, a quick ratio of 2.74 and a debt-to-equity ratio of 0.34. Datadog, Inc. has a twelve month low of $81.63 and a twelve month high of $170.08. The company has a 50 day moving average price of $130.32 and a 200-day moving average price of $120.54.

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