OMERS ADMINISTRATION Corp Reduces Stock Position in Datadog, Inc. (NASDAQ:DDOG)

OMERS ADMINISTRATION Corp trimmed its position in shares of Datadog, Inc. (NASDAQ:DDOG - Free Report) by 26.8% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 20,840 shares of the company's stock after selling 7,626 shares during the quarter. OMERS ADMINISTRATION Corp's holdings in Datadog were worth $2,978,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. Wealth Enhancement Advisory Services LLC boosted its stake in Datadog by 1.2% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 11,883 shares of the company's stock worth $1,698,000 after purchasing an additional 137 shares in the last quarter. Wedmont Private Capital raised its holdings in shares of Datadog by 8.3% in the fourth quarter. Wedmont Private Capital now owns 2,149 shares of the company's stock worth $302,000 after buying an additional 164 shares during the last quarter. Cooper Financial Group lifted its stake in shares of Datadog by 10.5% during the fourth quarter. Cooper Financial Group now owns 1,996 shares of the company's stock worth $285,000 after buying an additional 189 shares during the period. Pallas Capital Advisors LLC grew its holdings in shares of Datadog by 26.5% during the fourth quarter. Pallas Capital Advisors LLC now owns 2,834 shares of the company's stock valued at $405,000 after buying an additional 594 shares during the last quarter. Finally, FNY Investment Advisers LLC purchased a new stake in shares of Datadog during the fourth quarter valued at $192,000. 78.29% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. Truist Financial cut their price objective on Datadog from $140.00 to $120.00 and set a "hold" rating on the stock in a report on Monday, March 31st. DA Davidson increased their price target on shares of Datadog from $115.00 to $125.00 and gave the stock a "buy" rating in a report on Monday, May 5th. Scotiabank set a $130.00 price target on shares of Datadog and gave the stock an "outperform" rating in a research report on Wednesday, May 7th. Stifel Nicolaus set a $120.00 price objective on shares of Datadog in a report on Tuesday, May 6th. Finally, JMP Securities reiterated a "market perform" rating on shares of Datadog in a research note on Friday, February 14th. Seven analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $141.54.

Datadog Stock Performance

Datadog stock 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 4,368,467. The firm 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 firm's 50-day simple moving average is $101.10 and its 200 day simple moving average is $125.50. Datadog, Inc. has a 1-year low of $81.63 and a 1-year high of $170.08.

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

Insider Buying and Selling

In other news, CTO Alexis Le-Quoc sold 127,105 shares of Datadog stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $102.15, for a total value of $12,983,775.75. Following the sale, the chief technology officer now directly owns 371,865 shares of the company's stock, valued at $37,986,009.75. The trade was a 25.47% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Amit Agarwal sold 10,167 shares of the business'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 value of $1,177,948.62. Following the sale, the director now owns 82,324 shares of the company's stock, valued at $9,538,058.64. The trade was a 10.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 584,867 shares of company stock worth $60,517,652. Insiders own 11.78% of the company's stock.

Datadog Company 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.