Datadog, Inc. (NASDAQ:DDOG) is Steadview Capital Management LLC's 9th Largest Position

Steadview Capital Management LLC reduced its stake in shares of Datadog, Inc. (NASDAQ:DDOG - Free Report) by 52.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 112,730 shares of the company's stock after selling 122,190 shares during the quarter. Datadog comprises approximately 2.4% of Steadview Capital Management LLC's holdings, making the stock its 9th largest position. Steadview Capital Management LLC's holdings in Datadog were worth $11,184,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in shares of Datadog by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 30,354,229 shares of the company's stock worth $4,337,316,000 after buying an additional 220,527 shares in the last quarter. Groupama Asset Managment lifted its position in shares of Datadog by 407.6% in the fourth quarter. Groupama Asset Managment now owns 6,600,000 shares of the company's stock worth $943,074,000 after buying an additional 5,299,688 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Datadog by 9.6% in the fourth quarter. Geode Capital Management LLC now owns 5,684,612 shares of the company's stock worth $811,076,000 after buying an additional 499,055 shares in the last quarter. Brown Advisory Inc. lifted its position in shares of Datadog by 76.5% in the first quarter. Brown Advisory Inc. now owns 4,853,012 shares of the company's stock worth $481,467,000 after buying an additional 2,103,838 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its position in shares of Datadog by 16.2% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 4,476,279 shares of the company's stock worth $639,616,000 after buying an additional 625,429 shares in the last quarter. 78.29% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on DDOG shares. Scotiabank set a $130.00 price objective on shares of Datadog and gave the stock an "outperform" rating in a research note on Wednesday, May 7th. Bank of America increased their price target on Datadog from $150.00 to $175.00 and gave the company a "buy" rating in a report on Monday. Barclays increased their price target on Datadog from $125.00 to $128.00 and gave the company an "overweight" rating in a report on Tuesday, May 6th. Jefferies Financial Group restated a "buy" rating on shares of Datadog in a report on Tuesday, May 6th. Finally, Rosenblatt Securities decreased their price target on Datadog from $160.00 to $150.00 and set a "buy" rating on the stock in a report on Monday, May 5th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and twenty-five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $144.27.

Insider Buying and Selling at Datadog

In other news, CTO Alexis Le-Quoc sold 127,105 shares of the business's stock in a transaction that occurred on Wednesday, May 7th. The stock was sold at an average price of $105.83, for a total value of $13,451,522.15. Following the completion of the sale, the chief technology officer directly owned 466,535 shares in the company, valued at $49,373,399.05. The trade was a 21.41% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Matthew Jacobson sold 47,306 shares of the firm's stock in a transaction dated Wednesday, May 7th. The shares were sold at an average price of $107.40, for a total transaction of $5,080,664.40. Following the completion of the transaction, the director directly owned 25,468 shares in the company, valued at $2,735,263.20. This represents a 65.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 866,806 shares of company stock worth $104,910,027. Insiders own 8.70% of the company's stock.

Datadog Stock Up 0.4%

DDOG stock traded up $0.50 on Friday, hitting $137.99. 3,872,497 shares of the company's stock were exchanged, compared to its average volume of 4,971,451. The firm has a 50 day moving average price of $123.32 and a two-hundred day moving average price of $120.99. The stock has a market cap of $47.65 billion, a P/E ratio of 299.88, a price-to-earnings-growth ratio of 78.97 and a beta of 1.03. Datadog, Inc. has a 12-month low of $81.63 and a 12-month high of $170.08. 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 posted its quarterly earnings results on Tuesday, May 6th. The company reported $0.46 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.42 by $0.04. The business had revenue of $761.55 million during the quarter, compared to analysts' expectations of $741.73 million. Datadog had a net margin of 5.85% and a return on equity of 6.39%. The business's quarterly revenue was up 24.6% on a year-over-year basis. During the same quarter last year, the company posted $0.44 earnings per share. As a group, equities research analysts expect that Datadog, Inc. will post 0.34 EPS for the current fiscal year.

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.