Wealthfront Advisers LLC Trims Stake in Datadog, Inc. (NASDAQ:DDOG)

Wealthfront Advisers LLC cut its stake in shares of Datadog, Inc. (NASDAQ:DDOG - Free Report) by 21.2% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 7,528 shares of the company's stock after selling 2,030 shares during the quarter. Wealthfront Advisers LLC's holdings in Datadog were worth $747,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Groupama Asset Managment grew its position in shares of Datadog by 407.6% during the 4th 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 during the period. Janus Henderson Group PLC grew its position in shares of 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 buying an additional 3,993,707 shares during the period. Norges Bank acquired a new position in shares of Datadog during the 4th quarter worth about $462,910,000. Brown Advisory Inc. grew its position in shares of 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 buying an additional 2,654,512 shares during the period. Finally, Assenagon Asset Management S.A. grew its position in shares of Datadog by 341.0% during the 1st quarter. Assenagon Asset Management S.A. now owns 1,569,341 shares of the company's stock worth $155,694,000 after buying an additional 1,213,475 shares during the period. 78.29% of the stock is currently owned by institutional investors and hedge funds.

Datadog Stock Up 1.4%

DDOG traded up $2.07 during trading on Thursday, reaching $146.07. The stock had a trading volume of 1,053,208 shares, compared to its average volume of 5,862,119. The stock's 50 day moving average is $129.09 and its two-hundred day moving average is $120.78. The company has a market capitalization of $50.45 billion, a price-to-earnings ratio of 317.43, a P/E/G ratio of 79.68 and a beta of 1.03. Datadog, Inc. has a one year low of $81.63 and a one year high of $170.08. The company has a current ratio of 2.74, a quick ratio of 2.74 and a debt-to-equity ratio of 0.34.

Datadog (NASDAQ:DDOG - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The company reported $0.46 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.42 by $0.04. Datadog had a return on equity of 6.39% and a net margin of 5.85%. The firm had revenue of $761.55 million for the quarter, compared to the consensus estimate of $741.73 million. During the same period in the prior year, the company posted $0.44 earnings per share. The company's quarterly revenue was up 24.6% on a year-over-year basis. As a group, analysts expect that Datadog, Inc. will post 0.34 earnings per share for the current year.

Insider Activity at Datadog

In other news, Director Matthew Jacobson sold 47,306 shares of the company's stock in a transaction dated Wednesday, May 7th. The stock was sold at an average price of $107.40, for a total value of $5,080,664.40. Following the completion of the transaction, the director owned 25,468 shares of the company's stock, valued at $2,735,263.20. This represents a 65.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Amit Agarwal sold 25,000 shares of the stock in a transaction that occurred on Wednesday, May 28th. The shares were sold at an average price of $117.02, for a total value of $2,925,500.00. Following the transaction, the director directly owned 76,052 shares of the company's stock, valued at approximately $8,899,605.04. The trade was a 24.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 957,666 shares of company stock worth $117,576,223 in the last quarter. 8.70% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Needham & Company LLC set a $140.00 price objective on Datadog and gave the company a "buy" rating in a report on Thursday, June 12th. Wells Fargo & Company reduced their target price on Datadog from $140.00 to $115.00 and set an "equal weight" rating on the stock in a report on Wednesday, May 7th. Stifel Nicolaus upped their price objective on Datadog from $120.00 to $135.00 and gave the company a "hold" rating in a research note on Thursday, June 26th. Guggenheim reiterated a "sell" rating and issued a $105.00 target price on shares of Datadog in a report on Tuesday, July 8th. Finally, Mizuho lifted their target price on Datadog from $125.00 to $145.00 and gave the company an "outperform" rating in a research report on Wednesday, July 16th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and twenty-four have given a buy rating to the company's stock. According to data from MarketBeat, Datadog has an average rating of "Moderate Buy" and a consensus target price of $146.79.

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.