Datadog, Inc. (NASDAQ:DDOG) Shares Sold by LGT Group Foundation

LGT Group Foundation lessened its position in Datadog, Inc. (NASDAQ:DDOG) by 0.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 45,240 shares of the company’s stock after selling 342 shares during the quarter. LGT Group Foundation’s holdings in Datadog were worth $5,867,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Choreo LLC acquired a new position in shares of Datadog during the second quarter worth about $536,000. Prudential PLC increased its holdings in shares of Datadog by 8.0% in the 2nd quarter. Prudential PLC now owns 24,952 shares of the company’s stock valued at $3,236,000 after acquiring an additional 1,838 shares during the period. EDBI Pte Ltd lifted its position in Datadog by 22.1% during the 2nd quarter. EDBI Pte Ltd now owns 19,078 shares of the company’s stock worth $2,474,000 after acquiring an additional 3,454 shares during the period. Financial Futures Ltd Liability Co. lifted its holdings in shares of Datadog by 27.1% during the second quarter. Financial Futures Ltd Liability Co. now owns 21,348 shares of the company’s stock worth $2,769,000 after purchasing an additional 4,550 shares during the period. Finally, Ashton Thomas Private Wealth LLC grew its holdings in Datadog by 9.5% in the second quarter. Ashton Thomas Private Wealth LLC now owns 3,796 shares of the company’s stock valued at $492,000 after purchasing an additional 329 shares during the last quarter. 78.29% of the stock is currently owned by hedge funds and other institutional investors.

Datadog Price Performance

DDOG opened at $107.70 on Tuesday. Datadog, Inc. has a 12-month low of $77.81 and a 12-month high of $138.61. The stock has a market capitalization of $36.03 billion, a PE ratio of 336.56, a P/E/G ratio of 27.25 and a beta of 1.11. The firm’s fifty day moving average price is $117.97 and its 200 day moving average price is $120.67.

Datadog (NASDAQ:DDOG) last issued its quarterly earnings results on Thursday, August 8th. The company reported $0.43 EPS for the quarter, topping the consensus estimate 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 quarter last year, the company posted $0.36 earnings per share. The company’s quarterly revenue was up 26.7% compared to the same quarter last year. On average, equities research analysts forecast that Datadog, Inc. will post 0.41 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms recently commented on DDOG. Cantor Fitzgerald reiterated an “overweight” rating and issued a $150.00 price objective on shares of Datadog in a research report on Monday, July 22nd. Evercore ISI assumed coverage on shares of Datadog in a research report on Monday, July 15th. They issued an “outperform” rating and a $150.00 price target on the stock. BTIG Research upgraded Datadog from a “neutral” rating to a “buy” rating and set a $143.00 price objective for the company in a research report on Thursday, August 1st. UBS Group increased their target price on Datadog from $120.00 to $125.00 and gave the company a “neutral” rating in a report on Friday, August 9th. Finally, Bank of America raised Datadog from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $143.00 to $155.00 in a report on Thursday, May 30th. Four research analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Datadog currently has an average rating of “Moderate Buy” and a consensus target price of $139.88.

Insider Transactions at Datadog

In other Datadog news, CTO Alexis Le-Quoc sold 127,105 shares of Datadog stock in a transaction that occurred on Monday, August 12th. The stock was 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 directly owns 347,684 shares in the company, valued at $38,822,395.44. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CTO Alexis Le-Quoc sold 127,105 shares of the company’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $111.66, for a total transaction of $14,192,544.30. Following the completion of the transaction, the chief technology officer now owns 347,684 shares in the company, valued at $38,822,395.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CRO Sean Michael Walters sold 2,351 shares of Datadog stock in a transaction on Thursday, June 27th. The shares were sold at an average price of $125.00, for a total value of $293,875.00. Following the sale, the executive now directly owns 197,421 shares in the company, valued at approximately $24,677,625. The disclosure for this sale can be found here. In the last three months, insiders have sold 571,156 shares of company stock worth $69,718,481. 11.78% of the stock is currently owned by insiders.

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.