Raymond James Financial Services Advisors Inc. Trims Holdings in Datadog, Inc. (NASDAQ:DDOG)

Raymond James Financial Services Advisors Inc. decreased its position in shares of Datadog, Inc. (NASDAQ:DDOG - Free Report) by 22.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 36,142 shares of the company's stock after selling 10,589 shares during the period. Raymond James Financial Services Advisors Inc.'s holdings in Datadog were worth $4,387,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of DDOG. PNC Financial Services Group Inc. grew its holdings in shares of Datadog by 25.8% in the first quarter. PNC Financial Services Group Inc. now owns 2,718 shares of the company's stock worth $412,000 after purchasing an additional 558 shares during the last quarter. MetLife Investment Management LLC bought a new position in shares of Datadog in the first quarter worth about $2,494,000. Yousif Capital Management LLC grew its holdings in shares of Datadog by 9.3% in the first quarter. Yousif Capital Management LLC now owns 3,631 shares of the company's stock worth $550,000 after purchasing an additional 310 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Datadog by 11.7% in the first quarter. Dimensional Fund Advisors LP now owns 139,546 shares of the company's stock worth $21,137,000 after acquiring an additional 14,658 shares during the period. Finally, Blair William & Co. IL lifted its stake in Datadog by 20.0% in the first quarter. Blair William & Co. IL now owns 10,343 shares of the company's stock worth $1,567,000 after acquiring an additional 1,725 shares during the period. Institutional investors own 78.29% of the company's stock.

Datadog Stock Performance

Shares of NASDAQ:DDOG traded up $3.68 during midday trading on Friday, reaching $124.40. The company's stock had a trading volume of 2,500,657 shares, compared to its average volume of 2,496,336. The firm has a market capitalization of $41.28 billion, a PE ratio of 1,036.67 and a beta of 1.15. Datadog, Inc. has a twelve month low of $62.60 and a twelve month high of $138.61. The stock has a fifty day moving average of $126.73 and a 200 day moving average of $113.40. The company has a quick ratio of 3.17, a current ratio of 3.17 and a debt-to-equity ratio of 0.37.

Datadog (NASDAQ:DDOG - Get Free Report) last released its quarterly earnings data on Tuesday, February 13th. The company reported $0.44 earnings per share for the quarter, topping analysts' consensus estimates of $0.43 by $0.01. Datadog had a net margin of 2.28% and a return on equity of 3.79%. The firm had revenue of $589.65 million for the quarter, compared to analyst estimates of $568.73 million. During the same quarter in the prior year, the business earned ($0.08) earnings per share. The business's quarterly revenue was up 25.6% compared to the same quarter last year. On average, equities analysts expect that Datadog, Inc. will post -0.14 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on DDOG. Wolfe Research upped their price target on shares of Datadog from $140.00 to $150.00 and gave the stock an "outperform" rating in a research report on Wednesday, February 14th. Citigroup upped their price target on shares of Datadog from $125.00 to $150.00 and gave the stock a "buy" rating in a research report on Monday, January 22nd. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $145.00 price target (up previously from $115.00) on shares of Datadog in a research report on Monday, February 12th. William Blair reaffirmed an "outperform" rating on shares of Datadog in a research report on Friday, February 16th. Finally, Canaccord Genuity Group reaffirmed a "buy" rating and issued a $150.00 price target on shares of Datadog in a research report on Friday, February 23rd. Six investment analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $130.33.

Insider Buying and Selling

In related news, COO Adam Blitzer sold 20,892 shares of the stock in a transaction on Monday, March 4th. The shares were sold at an average price of $128.58, for a total transaction of $2,686,293.36. Following the sale, the chief operating officer now directly owns 203,503 shares of the company's stock, valued at $26,166,415.74. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Datadog news, COO Adam Blitzer sold 20,892 shares of the stock in a transaction on Monday, March 4th. The shares were sold at an average price of $128.58, for a total transaction of $2,686,293.36. Following the transaction, the chief operating officer now directly owns 203,503 shares of the company's stock, valued at $26,166,415.74. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO David M. Obstler sold 3,732 shares of the stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $125.36, for a total transaction of $467,843.52. Following the transaction, the chief financial officer now directly owns 275,191 shares in the company, valued at $34,497,943.76. The disclosure for this sale can be found here. Over the last three months, insiders have sold 730,390 shares of company stock valued at $93,147,705. Corporate insiders own 14.97% 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.