Two Sigma Investments LP Sells 216,239 Shares of Datadog, Inc. (NASDAQ:DDOG)

Two Sigma Investments LP lowered its stake in Datadog, Inc. (NASDAQ:DDOG - Free Report) by 49.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 224,381 shares of the company's stock after selling 216,239 shares during the quarter. Two Sigma Investments LP owned approximately 0.07% of Datadog worth $32,062,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of DDOG. Groupama Asset Managment grew its stake in Datadog by 407.6% during the 4th quarter. Groupama Asset Managment now owns 6,600,000 shares of the company's stock valued at $943,074,000 after acquiring an additional 5,299,688 shares in the last quarter. Janus Henderson Group PLC grew its stake 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 valued at $573,923,000 after acquiring an additional 3,993,707 shares in the last quarter. Norges Bank purchased a new position in Datadog during the 4th quarter valued at about $462,910,000. Jennison Associates LLC grew its stake in Datadog by 47.9% during the 4th quarter. Jennison Associates LLC now owns 9,278,648 shares of the company's stock valued at $1,325,826,000 after acquiring an additional 3,005,300 shares in the last quarter. Finally, Brown Advisory Inc. grew its stake in Datadog by 2,804.2% during the 4th quarter. Brown Advisory Inc. now owns 2,749,174 shares of the company's stock valued at $392,830,000 after acquiring an additional 2,654,512 shares in the last quarter. Hedge funds and other institutional investors own 78.29% of the company's stock.

Insiders Place Their Bets

In related news, Director Amit Agarwal sold 25,000 shares of Datadog stock in a transaction that occurred on Wednesday, May 14th. The stock was sold at an average price of $118.67, for a total value of $2,966,750.00. Following the sale, the director now owns 82,324 shares of the company's stock, valued at approximately $9,769,389.08. This trade represents a 23.29% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Olivier Pomel sold 107,365 shares of Datadog stock in a transaction that occurred on Monday, April 7th. The shares were sold at an average price of $87.33, for a total value of $9,376,185.45. Following the completion of the sale, the chief executive officer now directly owns 563,598 shares in the company, valued at approximately $49,219,013.34. This represents a 16.00% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 584,867 shares of company stock worth $60,517,652. Insiders own 11.78% of the company's stock.

Analyst Ratings Changes

Several brokerages recently commented on DDOG. Needham & Company LLC lowered their price target on Datadog from $160.00 to $130.00 and set a "buy" rating for the company in a research note on Wednesday, May 7th. DA Davidson boosted their price target on Datadog from $115.00 to $125.00 and gave the company a "buy" rating in a research note on Monday, May 5th. Jefferies Financial Group reissued a "buy" rating on shares of Datadog in a research note on Tuesday, May 6th. Royal Bank of Canada reissued an "outperform" rating and issued a $119.00 price target on shares of Datadog in a research note on Wednesday, May 7th. Finally, Rosenblatt Securities lowered their price target on Datadog from $160.00 to $150.00 and set a "buy" rating for the company in a research note on Monday, May 5th. Seven research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company. Based on data from MarketBeat, Datadog presently has a consensus rating of "Moderate Buy" and a consensus price target of $141.54.

Datadog Price Performance

Shares of DDOG stock traded down $1.21 during trading hours on Friday, hitting $114.46. 2,887,685 shares of the company's stock were exchanged, compared to its average volume of 4,385,651. The stock's 50-day moving average is $102.44 and its 200-day moving average is $125.16. The stock has a market cap of $39.53 billion, a price-to-earnings ratio of 224.44, a price-to-earnings-growth ratio of 44.03 and a beta of 1.12. Datadog, Inc. has a 52 week low of $81.63 and a 52 week high of $170.08.

Datadog (NASDAQ:DDOG - Get Free Report) last issued its 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. Datadog had a return on equity of 8.28% and a net margin of 6.85%. The firm had revenue of $761.55 million for the quarter, compared to analysts' expectations of $741.73 million. During the same quarter last year, the business earned $0.44 earnings per share. The company's revenue was up 24.6% compared to the same quarter last year. Equities research analysts forecast that Datadog, Inc. will post 0.34 earnings per share 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.