Two Sigma Advisers LP Reduces Stock Position in Datadog, Inc. (NASDAQ:DDOG)

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

Other hedge funds also recently added to or reduced their stakes in the company. Avior Wealth Management LLC raised its stake in shares of 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 acquiring an additional 81 shares in the last quarter. Coppell Advisory Solutions LLC increased its holdings in Datadog by 178.8% during the 4th quarter. Coppell Advisory Solutions LLC now owns 276 shares of the company's stock worth $40,000 after purchasing an additional 177 shares during the period. Summit Securities Group LLC acquired a new stake in Datadog in the 4th quarter valued at about $43,000. Itau Unibanco Holding S.A. raised its position in Datadog by 417.7% in the 4th quarter. Itau Unibanco Holding S.A. now owns 321 shares of the company's stock valued at $46,000 after purchasing an additional 259 shares in the last quarter. Finally, Shell Asset Management Co. purchased a new position in shares of Datadog in the 4th quarter valued at about $48,000. 78.29% of the stock is currently owned by institutional investors and hedge funds.

Datadog Price Performance

Shares of NASDAQ:DDOG traded up $3.14 during trading on Tuesday, reaching $117.60. The company had a trading volume of 3,316,280 shares, compared to its average volume of 4,390,232. Datadog, Inc. has a fifty-two week low of $81.63 and a fifty-two week high of $170.08. The stock's fifty day moving average price is $102.65 and its 200 day moving average price is $125.04. The firm has a market capitalization of $40.61 billion, a price-to-earnings ratio of 230.59, a price-to-earnings-growth ratio of 44.03 and a beta of 1.12.

Datadog (NASDAQ:DDOG - Get Free Report) last announced its quarterly earnings data 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 6.85% and a return on equity of 8.28%. The company had revenue of $761.55 million for the quarter, compared to analysts' expectations of $741.73 million. During the same period in the previous year, the company posted $0.44 EPS. Datadog's revenue was up 24.6% compared to the same quarter last year. On average, equities analysts anticipate that Datadog, Inc. will post 0.34 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. BTIG Research set a $136.00 target price on shares of Datadog and gave the stock a "buy" rating in a research note on Tuesday, May 6th. Stifel Nicolaus set a $120.00 price objective on shares of Datadog in a report on Tuesday, May 6th. Wells Fargo & Company cut their price target on Datadog from $140.00 to $115.00 and set an "equal weight" rating on the stock in a research note on Wednesday, May 7th. Macquarie decreased their price target on Datadog from $175.00 to $140.00 and set an "outperform" rating for the company in a report on Wednesday, May 7th. Finally, Cantor Fitzgerald reiterated an "overweight" rating and issued a $134.00 price objective on shares of Datadog in a report on Wednesday, May 7th. Seven equities research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $141.54.

Insider Buying and Selling

In other news, Director Amit Agarwal sold 25,000 shares of the stock in a transaction that occurred on Wednesday, May 14th. The stock was sold at an average price of $118.67, for a total transaction 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 represents a 23.29% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Olivier Pomel sold 107,365 shares of Datadog stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $109.56, for a total value of $11,762,909.40. Following the completion of the sale, the chief executive officer now owns 435,793 shares in the company, valued at approximately $47,745,481.08. This trade represents a 19.77% decrease in their ownership of the stock. 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 ninety days. Corporate insiders own 11.78% of the company's stock.

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.