Two Sigma Advisers LP Sells 179,200 Shares of Datadog, Inc. (NASDAQ:DDOG)

Two Sigma Advisers LP lessened its holdings in Datadog, Inc. (NASDAQ:DDOG - Free Report) by 77.9% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 50,872 shares of the company's stock after selling 179,200 shares during the period. Two Sigma Advisers LP's holdings in Datadog were worth $7,269,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in DDOG. Groupama Asset Managment lifted its stake in 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 acquiring an additional 5,299,688 shares during the period. Janus Henderson Group PLC grew its position in Datadog by 17,477.2% during the 4th quarter. Janus Henderson Group PLC now owns 4,016,558 shares of the company's stock worth $573,923,000 after purchasing an additional 3,993,707 shares during the last quarter. Norges Bank acquired a new position in shares of Datadog in the 4th quarter valued at $462,910,000. Jennison Associates LLC raised its stake in Datadog by 47.9% in the 4th quarter. Jennison Associates LLC now owns 9,278,648 shares of the company's stock worth $1,325,826,000 after acquiring an additional 3,005,300 shares during the last quarter. Finally, Brown Advisory Inc. lifted its position in Datadog by 2,804.2% during the 4th quarter. Brown Advisory Inc. now owns 2,749,174 shares of the company's stock worth $392,830,000 after acquiring an additional 2,654,512 shares during the period. 78.29% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Datadog news, Director Amit Agarwal sold 10,167 shares of the company's stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $115.86, for a total value of $1,177,948.62. Following the completion of the transaction, the director now owns 82,324 shares of the company's stock, valued at $9,538,058.64. This represents a 10.99% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Matthew Jacobson sold 47,306 shares of the company'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 sale, the director now directly owns 25,468 shares in the company, valued at approximately $2,735,263.20. The trade was a 65.00% decrease in their position. The disclosure for this sale can be found here. Insiders sold 584,867 shares of company stock valued at $60,517,652 over the last 90 days. 11.78% of the stock is currently owned by company insiders.

Analyst Ratings Changes

DDOG has been the topic of several recent research reports. Wells Fargo & Company dropped their price objective on shares of Datadog from $140.00 to $115.00 and set an "equal weight" rating on the stock in a report on Wednesday, May 7th. Truist Financial lowered their price target on shares of Datadog from $140.00 to $120.00 and set a "hold" rating on the stock in a report on Monday, March 31st. Morgan Stanley reduced their price objective on Datadog from $143.00 to $115.00 and set an "equal weight" rating for the company in a research note on Wednesday, April 16th. Scotiabank set a $130.00 target price on Datadog and gave the stock an "outperform" rating in a research note on Wednesday, May 7th. Finally, UBS Group raised their target price on Datadog from $120.00 to $125.00 and gave the stock a "buy" rating in a report on Wednesday, May 7th. Seven investment analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $141.54.

Datadog Stock Down 1.1%

Shares of DDOG traded down $1.31 during trading hours on Wednesday, reaching $116.29. The company's stock had a trading volume of 2,015,419 shares, compared to its average volume of 4,382,613. The company has a 50 day moving average of $102.93 and a two-hundred day moving average of $124.99. The firm has a market cap of $40.16 billion, a price-to-earnings ratio of 228.03, a P/E/G ratio of 44.03 and a beta of 1.12. Datadog, Inc. has a 1-year low of $81.63 and a 1-year high of $170.08.

Datadog (NASDAQ:DDOG - Get Free Report) last issued its earnings results on Tuesday, May 6th. The company reported $0.46 EPS for the quarter, beating analysts' consensus estimates of $0.42 by $0.04. The firm had revenue of $761.55 million for the quarter, compared to the consensus estimate of $741.73 million. Datadog had a return on equity of 8.28% and a net margin of 6.85%. The business's quarterly revenue was up 24.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.44 earnings per share. As a group, analysts forecast 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.