Nuveen Asset Management LLC Decreases Stock Holdings in Datadog, Inc. (NASDAQ:DDOG)

Nuveen Asset Management LLC lessened its stake in Datadog, Inc. (NASDAQ:DDOG - Free Report) by 56.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,099,169 shares of the company's stock after selling 1,449,291 shares during the period. Nuveen Asset Management LLC owned 0.32% of Datadog worth $157,060,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its stake in Datadog by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 30,354,229 shares of the company's stock worth $4,337,316,000 after buying an additional 220,527 shares during the period. Baillie Gifford & Co. increased its position in Datadog by 15.8% during the 4th quarter. Baillie Gifford & Co. now owns 10,905,133 shares of the company's stock valued at $1,558,234,000 after purchasing an additional 1,484,562 shares during the period. Jennison Associates LLC grew its position in shares of Datadog by 47.9% in the 4th quarter. Jennison Associates LLC now owns 9,278,648 shares of the company's stock worth $1,325,826,000 after buying an additional 3,005,300 shares during the last quarter. Groupama Asset Managment grew its position in shares of Datadog by 407.6% in 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 last quarter. Finally, Geode Capital Management LLC grew its position in shares of Datadog by 9.6% in the 4th quarter. Geode Capital Management LLC now owns 5,684,612 shares of the company's stock worth $811,076,000 after buying an additional 499,055 shares during the last quarter. Hedge funds and other institutional investors own 78.29% of the company's stock.

Analyst Upgrades and Downgrades

DDOG has been the topic of a number of analyst reports. Guggenheim reaffirmed a "neutral" rating on shares of Datadog in a research report on Wednesday, January 22nd. Wedbush cut their price objective on shares of Datadog from $155.00 to $140.00 and set an "outperform" rating on the stock in a research report on Wednesday, May 7th. JMP Securities reaffirmed a "market perform" rating on shares of Datadog in a research report on Friday, February 14th. Citigroup lowered their target price on shares of Datadog from $170.00 to $165.00 and set a "buy" rating for the company in a research note on Friday, February 14th. Finally, Needham & Company LLC lowered their target price on shares of Datadog from $160.00 to $130.00 and set a "buy" rating for the company in a research note on Wednesday, May 7th. Seven research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $141.54.

Insider Activity

In related news, CTO Alexis Le-Quoc sold 127,105 shares of Datadog stock in a transaction that occurred on Wednesday, May 7th. The shares were sold at an average price of $105.83, for a total value of $13,451,522.15. Following the completion of the transaction, the chief technology officer now owns 466,535 shares in the company, valued at $49,373,399.05. The trade was a 21.41% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Amit Agarwal sold 10,167 shares of the firm's stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $115.86, for a total transaction of $1,177,948.62. Following the sale, the director now directly owns 82,324 shares in the company, valued at approximately $9,538,058.64. The trade was a 10.99% decrease in their position. The disclosure for this sale can be found here. Insiders sold 584,867 shares of company stock worth $60,517,652 over the last three months. Insiders own 11.78% of the company's stock.

Datadog Trading Down 1.0%

NASDAQ:DDOG traded down $1.21 during trading hours on Monday, reaching $116.46. 4,864,193 shares of the company were exchanged, compared to its average volume of 4,370,450. The stock's 50-day moving average is $101.10 and its 200-day moving average is $125.50. The firm has a market cap of $40.22 billion, a PE ratio of 228.36, a price-to-earnings-growth ratio of 44.03 and a beta of 1.12. Datadog, Inc. has a twelve month low of $81.63 and a twelve month high of $170.08.

Datadog (NASDAQ:DDOG - Get Free Report) last issued its earnings results on Tuesday, May 6th. The company reported $0.46 EPS for the quarter, beating analysts' consensus estimates of $0.42 by $0.04. The business had revenue of $761.55 million during the quarter, compared to analysts' expectations of $741.73 million. Datadog had a net margin of 6.85% and a return on equity of 8.28%. The company's quarterly revenue was up 24.6% compared to the same quarter last year. During the same period in the prior year, the business earned $0.44 earnings per share. As a group, research analysts anticipate that Datadog, Inc. will post 0.34 EPS for the current year.

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.