Principal Financial Group Inc. Reduces Stock Holdings in Datadog, Inc. (NASDAQ:DDOG)

Principal Financial Group Inc. reduced its stake in Datadog, Inc. (NASDAQ:DDOG - Free Report) by 40.5% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 197,157 shares of the company's stock after selling 134,181 shares during the quarter. Principal Financial Group Inc. owned approximately 0.06% of Datadog worth $19,560,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Brighton Jones LLC bought a new stake in Datadog during the fourth quarter valued at about $209,000. Atria Investments Inc raised its position in shares of Datadog by 30.1% during the fourth quarter. Atria Investments Inc now owns 6,246 shares of the company's stock valued at $892,000 after buying an additional 1,444 shares during the last quarter. Proficio Capital Partners LLC bought a new stake in shares of Datadog during the fourth quarter valued at approximately $14,884,000. Edgestream Partners L.P. bought a new stake in shares of Datadog during the fourth quarter valued at approximately $583,000. Finally, PNC Financial Services Group Inc. raised its position in shares of Datadog by 37.8% during the fourth quarter. PNC Financial Services Group Inc. now owns 18,192 shares of the company's stock valued at $2,599,000 after buying an additional 4,989 shares during the last quarter. 78.29% of the stock is owned by institutional investors.

Insider Buying and Selling at Datadog

In other news, CFO David M. Obstler sold 35,016 shares of the firm's stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $117.40, for a total value of $4,110,878.40. Following the transaction, the chief financial officer owned 399,270 shares of the company's stock, valued at approximately $46,874,298. This trade represents a 8.06% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Olivier Pomel sold 107,365 shares of the firm's stock in a transaction on Monday, June 9th. The shares were sold at an average price of $121.71, for a total transaction of $13,067,394.15. Following the completion of the transaction, the chief executive officer directly owned 548,715 shares in the company, valued at approximately $66,784,102.65. This represents a 16.36% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 866,806 shares of company stock valued at $104,910,027. 8.70% of the stock is owned by corporate insiders.

Datadog Price Performance

DDOG stock traded down $0.12 during trading on Friday, reaching $137.37. 6,321,860 shares of the company were exchanged, compared to its average volume of 4,980,755. Datadog, Inc. has a 52-week low of $81.63 and a 52-week high of $170.08. The company has a market cap of $47.44 billion, a P/E ratio of 298.64, a PEG ratio of 78.97 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. The stock's 50 day moving average price is $123.32 and its 200 day moving average price is $120.99.

Datadog (NASDAQ:DDOG - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The company reported $0.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.42 by $0.04. Datadog had a net margin of 5.85% and a return on equity of 6.39%. The company had revenue of $761.55 million for the quarter, compared to the consensus estimate of $741.73 million. During the same quarter in the prior year, the firm earned $0.44 earnings per share. The company's revenue for the quarter was up 24.6% compared to the same quarter last year. As a group, analysts predict that Datadog, Inc. will post 0.34 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages have recently issued reports on DDOG. Scotiabank set a $130.00 target price on Datadog and gave the stock an "outperform" rating in a report on Wednesday, May 7th. UBS Group lifted their target price on Datadog from $125.00 to $140.00 and gave the stock a "buy" rating in a report on Wednesday, June 11th. Wells Fargo & Company reduced their price target on shares of Datadog from $140.00 to $115.00 and set an "equal weight" rating on the stock in a research report on Wednesday, May 7th. Canaccord Genuity Group reduced their price target on shares of Datadog from $150.00 to $145.00 and set a "buy" rating on the stock in a research report on Wednesday, May 7th. Finally, Morgan Stanley boosted their price target on shares of Datadog from $115.00 to $165.00 and gave the stock an "equal weight" rating in a research report on Thursday. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and twenty-five have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $144.27.

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.