DekaBank Deutsche Girozentrale Sells 48,328 Shares of Datadog, Inc. (NASDAQ:DDOG)

DekaBank Deutsche Girozentrale reduced its stake in Datadog, Inc. (NASDAQ:DDOG) by 9.6% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 454,510 shares of the company’s stock after selling 48,328 shares during the quarter. DekaBank Deutsche Girozentrale owned 0.14% of Datadog worth $51,518,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Wealth Enhancement Advisory Services LLC boosted its position in shares of Datadog by 9.3% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 9,807 shares of the company’s stock worth $1,212,000 after buying an additional 831 shares during the period. Diversified Trust Co grew its stake in shares of Datadog by 36.4% during the 1st quarter. Diversified Trust Co now owns 6,007 shares of the company’s stock worth $742,000 after acquiring an additional 1,602 shares in the last quarter. Oak Thistle LLC acquired a new stake in shares of Datadog in the first quarter valued at approximately $210,000. SeaCrest Wealth Management LLC bought a new stake in shares of Datadog in the first quarter worth $257,000. Finally, Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in Datadog by 28.9% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 820,971 shares of the company’s stock worth $101,472,000 after purchasing an additional 184,231 shares during the last quarter. 78.29% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Datadog

In other news, CTO Alexis Le-Quoc sold 127,105 shares of the stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $111.66, for a total value of $14,192,544.30. Following the completion of the transaction, the chief technology officer now owns 347,684 shares of the company’s stock, valued at approximately $38,822,395.44. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CTO Alexis Le-Quoc sold 127,105 shares of the stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $111.66, for a total value of $14,192,544.30. Following the completion of the transaction, the chief technology officer now owns 347,684 shares of the company’s stock, valued at $38,822,395.44. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Olivier Pomel sold 85,637 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $104.21, for a total transaction of $8,924,231.77. Following the completion of the sale, the chief executive officer now owns 405,314 shares in the company, valued at $42,237,771.94. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 529,928 shares of company stock valued at $63,079,091 over the last ninety days. 11.78% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on DDOG shares. Mizuho raised shares of Datadog from a “neutral” rating to an “outperform” rating and boosted their price target for the stock from $135.00 to $155.00 in a research report on Tuesday, July 16th. DA Davidson raised Datadog from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $115.00 to $140.00 in a research report on Tuesday, October 1st. Evercore ISI initiated coverage on Datadog in a report on Monday, July 15th. They issued an “outperform” rating and a $150.00 price objective for the company. Barclays lowered their target price on shares of Datadog from $145.00 to $140.00 and set an “overweight” rating on the stock in a report on Friday, August 9th. Finally, UBS Group reiterated an “underperform” rating on shares of Datadog in a research note on Friday, October 18th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, twenty-six have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $142.54.

Datadog Stock Up 2.2 %

Shares of Datadog stock opened at $126.60 on Monday. The firm’s 50-day moving average price is $117.59 and its two-hundred day moving average price is $119.41. The company has a market capitalization of $42.35 billion, a price-to-earnings ratio of 395.63, a PEG ratio of 22.85 and a beta of 1.11. Datadog, Inc. has a 12-month low of $77.81 and a 12-month high of $138.61.

Datadog (NASDAQ:DDOG) last announced its quarterly earnings data on Thursday, August 8th. The company reported $0.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.37 by $0.06. Datadog had a net margin of 6.81% and a return on equity of 9.01%. The business had revenue of $645.28 million for the quarter, compared to analysts’ expectations of $624.92 million. During the same period last year, the firm posted $0.36 earnings per share. The firm’s quarterly revenue was up 26.7% compared to the same quarter last year. On average, sell-side analysts expect that Datadog, Inc. will post 0.42 earnings per share for the current year.

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.