Datadog, Inc. (NASDAQ:DDOG) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC lessened its holdings in Datadog, Inc. (NASDAQ:DDOG - Free Report) by 10.0% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 606,926 shares of the company's stock after selling 67,343 shares during the period. Allspring Global Investments Holdings LLC owned about 0.18% of Datadog worth $73,669,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in DDOG. Massachusetts Financial Services Co. MA bought a new stake in Datadog during the 3rd quarter worth approximately $189,668,000. Quintet Private Bank Europe S.A. bought a new stake in shares of Datadog during the 3rd quarter valued at $270,000. Mengis Capital Management Inc. purchased a new position in shares of Datadog during the 3rd quarter valued at $409,000. Bank of New York Mellon Corp boosted its holdings in Datadog by 2.5% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,378,534 shares of the company's stock worth $125,571,000 after buying an additional 33,748 shares during the period. Finally, Cercano Management LLC raised its holdings in Datadog by 40.4% during the third quarter. Cercano Management LLC now owns 309,560 shares of the company's stock valued at $28,198,000 after acquiring an additional 89,019 shares during the period. 78.29% of the stock is currently owned by institutional investors.

Insider Activity at Datadog

In other news, COO Adam Blitzer sold 20,892 shares of the stock in a transaction on Monday, March 4th. The stock was 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 owns 203,503 shares of the company's stock, valued at approximately $26,166,415.74. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, CRO Sean Michael Walters sold 10,006 shares of Datadog stock in a transaction that occurred on Wednesday, January 17th. The shares were sold at an average price of $125.00, for a total transaction of $1,250,750.00. Following the transaction, the executive now directly owns 146,439 shares of the company's stock, valued at $18,304,875. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, COO Adam Blitzer sold 20,892 shares of the business's stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $128.58, for a total transaction of $2,686,293.36. Following the completion of the transaction, the chief operating officer now directly owns 203,503 shares of the company's stock, valued at approximately $26,166,415.74. The disclosure for this sale can be found here. Over the last quarter, insiders sold 603,885 shares of company stock worth $77,960,140. Company insiders own 14.97% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. BMO Capital Markets reaffirmed an "outperform" rating and issued a $155.00 price objective (up previously from $140.00) on shares of Datadog in a research note on Wednesday, February 14th. Citigroup boosted their target price on shares of Datadog from $125.00 to $150.00 and gave the stock a "buy" rating in a report on Monday, January 22nd. Cantor Fitzgerald restated an "overweight" rating and set a $145.00 target price (up previously from $115.00) on shares of Datadog in a research report on Monday, February 12th. Wolfe Research lifted their price target on shares of Datadog from $140.00 to $150.00 and gave the company an "outperform" rating in a report on Wednesday, February 14th. Finally, Canaccord Genuity Group reissued a "buy" rating and set a $150.00 price objective on shares of Datadog in a report on Friday, February 23rd. Six equities research analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $130.33.

Datadog Trading Up 0.3 %

DDOG traded up $0.38 during trading hours on Wednesday, reaching $125.82. 3,279,180 shares of the company's stock traded hands, compared to its average volume of 4,101,813. The firm has a 50-day moving average price of $126.66 and a 200 day moving average price of $114.15. The firm has a market capitalization of $41.76 billion, a PE ratio of 1,048.50 and a beta of 1.15. 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, Inc. has a 52-week low of $62.60 and a 52-week high of $138.61.

Datadog (NASDAQ:DDOG - Get Free Report) last issued its earnings results on Tuesday, February 13th. The company reported $0.44 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to analyst estimates of $568.73 million. During the same period in the previous year, the firm earned ($0.08) earnings per share. The business's revenue was up 25.6% on a year-over-year basis. As a group, sell-side analysts predict that Datadog, Inc. will post -0.14 EPS 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.