UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Reduces Stock Position in Datadog, Inc. (NASDAQ:DDOG)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lessened its holdings in shares of Datadog, Inc. (NASDAQ:DDOG - Free Report) by 5.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,912,213 shares of the company's stock after selling 112,713 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.56% of Datadog worth $273,236,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Avior Wealth Management LLC increased its stake in shares of Datadog by 55.9% during the fourth quarter. Avior Wealth Management LLC now owns 226 shares of the company's stock valued at $32,000 after buying an additional 81 shares during the period. Coppell Advisory Solutions LLC boosted its stake in shares of Datadog by 178.8% during the 4th quarter. Coppell Advisory Solutions LLC now owns 276 shares of the company's stock valued at $40,000 after purchasing an additional 177 shares in the last quarter. Summit Securities Group LLC bought a new position in Datadog in the fourth quarter worth about $43,000. Itau Unibanco Holding S.A. grew its holdings in shares of Datadog by 417.7% during the 4th quarter. Itau Unibanco Holding S.A. now owns 321 shares of the company's stock worth $46,000 after acquiring an additional 259 shares during the period. Finally, Shell Asset Management Co. bought a new stake in shares of Datadog during the fourth quarter valued at approximately $48,000. Institutional investors own 78.29% of the company's stock.

Insiders Place Their Bets

In related news, CEO Olivier Pomel sold 107,365 shares of the firm's 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 transaction, the chief executive officer now owns 563,598 shares of the company's stock, valued at approximately $49,219,013.34. This trade represents a 16.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Amit Agarwal sold 10,167 shares of the business's stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $115.86, for a total transaction of $1,177,948.62. Following the sale, the director now owns 82,324 shares of the company's stock, valued at $9,538,058.64. This trade represents a 10.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 584,867 shares of company stock valued at $60,517,652. Insiders own 11.78% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Royal Bank of Canada reiterated an "outperform" rating and issued a $119.00 price objective on shares of Datadog in a report on Wednesday, May 7th. Guggenheim reiterated a "neutral" rating on shares of Datadog in a research note on Wednesday, January 22nd. Wedbush dropped their price objective on shares of Datadog from $155.00 to $140.00 and set an "outperform" rating on the stock in a research note on Wednesday, May 7th. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $134.00 target price on shares of Datadog in a research note on Wednesday, May 7th. Finally, Canaccord Genuity Group lowered their target price on shares of Datadog from $150.00 to $145.00 and set a "buy" rating for the company in a report on Wednesday, May 7th. Seven research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Datadog has a consensus rating of "Moderate Buy" and a consensus target price of $141.54.

Datadog Trading Down 2.2%

Shares of DDOG stock opened at $113.69 on Thursday. Datadog, Inc. has a 12-month low of $81.63 and a 12-month high of $170.08. The stock has a market capitalization of $39.26 billion, a P/E ratio of 222.93, a P/E/G ratio of 44.03 and a beta of 1.12. The firm's 50 day moving average is $101.98 and its 200 day moving average is $125.31.

Datadog (NASDAQ:DDOG - Get Free Report) last released 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 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 company's revenue for the quarter was up 24.6% on a year-over-year basis. During the same period last year, the business posted $0.44 EPS. As a group, equities analysts predict that Datadog, Inc. will post 0.34 earnings per share for the current year.

About Datadog

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.

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