Graham Capital Management L.P. Sells 13,182 Shares of Datadog, Inc. (NASDAQ:DDOG)

Graham Capital Management L.P. trimmed its holdings in shares of Datadog, Inc. (NASDAQ:DDOG - Free Report) by 55.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 10,517 shares of the company's stock after selling 13,182 shares during the quarter. Graham Capital Management L.P.'s holdings in Datadog were worth $1,503,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in DDOG. Groupama Asset Managment raised its holdings 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 purchasing an additional 5,299,688 shares in the last quarter. Norges Bank bought a new position in Datadog in the fourth quarter worth about $462,910,000. Jennison Associates LLC raised its holdings in Datadog by 47.9% in the fourth quarter. Jennison Associates LLC now owns 9,278,648 shares of the company's stock worth $1,325,826,000 after purchasing an additional 3,005,300 shares in the last quarter. Brown Advisory Inc. raised its holdings in Datadog by 2,804.2% in the fourth quarter. Brown Advisory Inc. now owns 2,749,174 shares of the company's stock worth $392,830,000 after purchasing an additional 2,654,512 shares in the last quarter. Finally, Baillie Gifford & Co. raised its holdings in Datadog by 15.8% in the fourth quarter. Baillie Gifford & Co. now owns 10,905,133 shares of the company's stock worth $1,558,234,000 after purchasing an additional 1,484,562 shares in the last quarter. 78.29% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, CEO Olivier Pomel sold 107,365 shares of Datadog stock in a transaction on Friday, March 7th. The stock was sold at an average price of $109.56, for a total value of $11,762,909.40. Following the transaction, the chief executive officer now directly owns 435,793 shares in the company, valued at $47,745,481.08. The trade was a 19.77% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Amit Agarwal sold 10,167 shares of Datadog stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $115.86, for a total value of $1,177,948.62. Following the transaction, the director now owns 82,324 shares in the company, valued at $9,538,058.64. This represents a 10.99% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 559,867 shares of company stock valued at $57,550,902 in the last quarter. Insiders own 11.78% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on DDOG shares. UBS Group boosted their price target on Datadog from $120.00 to $125.00 and gave the stock a "buy" rating in a research note on Wednesday, May 7th. JMP Securities reiterated a "market perform" rating on shares of Datadog in a research report on Friday, February 14th. Needham & Company LLC dropped their target price on Datadog from $160.00 to $130.00 and set a "buy" rating on the stock in a research report on Wednesday, May 7th. Wedbush dropped their target price on Datadog from $155.00 to $140.00 and set an "outperform" rating on the stock in a research report on Wednesday, May 7th. Finally, DA Davidson upped their target price on Datadog from $115.00 to $125.00 and gave the company a "buy" rating in a research report on Monday, May 5th. Seven equities research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $141.54.

Datadog Trading Up 0.5%

Shares of NASDAQ DDOG traded up $0.53 during trading on Friday, reaching $117.67. The company had a trading volume of 3,138,469 shares, compared to its average volume of 4,355,295. Datadog, Inc. has a twelve month low of $81.63 and a twelve month high of $170.08. The stock has a market capitalization of $40.33 billion, a PE ratio of 230.73, a price-to-earnings-growth ratio of 44.03 and a beta of 1.12. The stock has a 50-day moving average price of $100.79 and a two-hundred day moving average price of $125.59.

Datadog (NASDAQ:DDOG - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The company reported $0.46 EPS for the quarter, topping the consensus estimate of $0.42 by $0.04. Datadog had a return on equity of 8.28% and a net margin of 6.85%. The company had revenue of $761.55 million during the quarter, compared to analyst estimates of $741.73 million. During the same period in the prior year, the firm posted $0.44 earnings per share. The firm's revenue was up 24.6% on a year-over-year basis. On average, sell-side analysts predict that Datadog, Inc. will post 0.34 EPS for the current 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.