Victory Capital Management Inc. Sells 18,875 Shares of Datadog, Inc. (NASDAQ:DDOG)

Victory Capital Management Inc. trimmed its position in Datadog, Inc. (NASDAQ:DDOG - Free Report) by 7.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 219,940 shares of the company's stock after selling 18,875 shares during the quarter. Victory Capital Management Inc. owned 0.07% of Datadog worth $26,696,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in DDOG. Vanguard Group Inc. increased its position in shares of Datadog by 4.7% in the third quarter. Vanguard Group Inc. now owns 26,524,875 shares of the company's stock worth $2,416,151,000 after purchasing an additional 1,191,742 shares during the period. Artisan Partners Limited Partnership raised its position in shares of Datadog by 11.7% in the 3rd quarter. Artisan Partners Limited Partnership now owns 2,330,404 shares of the company's stock valued at $212,276,000 after buying an additional 244,567 shares in the last quarter. Massachusetts Financial Services Co. MA bought a new stake in shares of Datadog during the 3rd quarter worth approximately $189,668,000. Northern Trust Corp boosted its position in shares of Datadog by 8.4% during the 3rd quarter. Northern Trust Corp now owns 1,688,422 shares of the company's stock worth $153,798,000 after acquiring an additional 131,464 shares in the last quarter. Finally, Alkeon Capital Management LLC bought a new position in Datadog in the third quarter valued at approximately $127,526,000. Institutional investors own 78.29% of the company's stock.

Datadog Stock Up 4.3 %

DDOG traded up $4.88 during trading on Wednesday, hitting $117.28. 8,312,567 shares of the company's stock were exchanged, compared to its average volume of 4,288,102. The stock has a market cap of $38.92 billion, a P/E ratio of 977.33 and a beta of 1.14. The business's 50 day moving average is $124.57 and its two-hundred day moving average is $119.16. Datadog, Inc. has a fifty-two week low of $77.81 and a fifty-two week high of $138.61. 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 issued its quarterly earnings data on Tuesday, February 13th. The company reported $0.44 EPS for the quarter, topping analysts' consensus estimates of $0.43 by $0.01. The firm had revenue of $589.65 million during the quarter, compared to analyst estimates of $568.73 million. Datadog had a return on equity of 3.79% and a net margin of 2.28%. The company's revenue for the quarter was up 25.6% on a year-over-year basis. During the same period in the previous year, the company posted ($0.08) EPS. As a group, equities analysts expect that Datadog, Inc. will post -0.14 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CEO Olivier Pomel sold 85,637 shares of the business's stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $125.41, for a total value of $10,739,736.17. Following the transaction, the chief executive officer now owns 337,247 shares in the company, valued at approximately $42,294,146.27. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, CEO Olivier Pomel sold 85,637 shares of Datadog stock in a transaction on Monday, May 6th. The stock was sold at an average price of $125.41, for a total transaction of $10,739,736.17. Following the sale, the chief executive officer now directly owns 337,247 shares in the company, valued at approximately $42,294,146.27. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO David M. Obstler sold 31,007 shares of the firm's stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $128.58, for a total transaction of $3,986,880.06. Following the sale, the chief financial officer now owns 275,191 shares of the company's stock, valued at approximately $35,384,058.78. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 712,230 shares of company stock worth $91,161,780. 11.78% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Needham & Company LLC reiterated a "buy" rating and issued a $165.00 price target on shares of Datadog in a research note on Tuesday. Wells Fargo & Company upgraded shares of Datadog from an "equal weight" rating to an "overweight" rating and raised their price target for the company from $130.00 to $150.00 in a research note on Tuesday, April 23rd. Truist Financial increased their price objective on shares of Datadog from $140.00 to $155.00 and gave the company a "buy" rating in a research note on Wednesday, February 14th. Mizuho boosted their target price on shares of Datadog from $108.00 to $130.00 and gave the stock a "neutral" rating in a research note on Wednesday, February 14th. Finally, William Blair reissued an "outperform" rating on shares of Datadog in a report on Friday, February 16th. Four equities research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $135.58.

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.