Renaissance Technologies LLC Cuts Stock Holdings in Datadog, Inc. (NASDAQ:DDOG)

Renaissance Technologies LLC cut its stake in shares of Datadog, Inc. (NASDAQ:DDOG) by 8.1% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,743,052 shares of the company’s stock after selling 154,400 shares during the period. Renaissance Technologies LLC owned 0.52% of Datadog worth $226,056,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in DDOG. Riverview Trust Co purchased a new stake in Datadog during the first quarter valued at about $26,000. SouthState Corp purchased a new stake in shares of Datadog during the 2nd quarter worth about $26,000. Raleigh Capital Management Inc. purchased a new stake in shares of Datadog during the 4th quarter worth about $29,000. Jones Financial Companies Lllp purchased a new stake in shares of Datadog during the 4th quarter worth about $33,000. Finally, Quest Partners LLC purchased a new stake in shares of Datadog during the 4th quarter worth about $36,000. 78.29% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Datadog news, General Counsel Kerry Acocella sold 5,955 shares of the stock in a transaction on Monday, June 24th. The stock was sold at an average price of $120.09, for a total value of $715,135.95. Following the sale, the general counsel now directly owns 85,787 shares of the company’s stock, valued at $10,302,160.83. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, CEO Olivier Pomel sold 200,993 shares of the stock in a transaction on Monday, July 8th. The stock was sold at an average price of $131.01, for a total value of $26,332,092.93. Following the completion of the transaction, the chief executive officer now owns 324,539 shares of the company’s stock, valued at $42,517,854.39. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, General Counsel Kerry Acocella sold 5,955 shares of the stock in a transaction on Monday, June 24th. The stock was sold at an average price of $120.09, for a total value of $715,135.95. Following the completion of the transaction, the general counsel now directly owns 85,787 shares of the company’s stock, valued at approximately $10,302,160.83. The disclosure for this sale can be found here. Insiders have sold 561,997 shares of company stock valued at $68,517,631 over the last three months. Company insiders own 11.78% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on DDOG shares. Barclays decreased their target price on Datadog from $145.00 to $140.00 and set an “overweight” rating for the company in a report on Friday, August 9th. Bank of America upgraded Datadog from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $143.00 to $155.00 in a report on Thursday, May 30th. Cantor Fitzgerald reiterated an “overweight” rating and set a $150.00 target price on shares of Datadog in a report on Monday, July 22nd. Mizuho upgraded Datadog from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $135.00 to $155.00 in a report on Tuesday, July 16th. Finally, Scotiabank decreased their price target on Datadog from $145.00 to $135.00 and set a “sector outperform” rating for the company in a report on Friday, August 9th. Four investment analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $139.88.

Datadog Trading Down 0.3 %

DDOG stock opened at $109.26 on Monday. The firm has a market cap of $36.55 billion, a P/E ratio of 341.44, a P/E/G ratio of 27.84 and a beta of 1.11. Datadog, Inc. has a 12-month low of $77.81 and a 12-month high of $138.61. The stock’s 50 day simple moving average is $116.11 and its 200 day simple moving average is $120.08.

Datadog (NASDAQ:DDOG) last issued its earnings results on Thursday, August 8th. The company reported $0.43 earnings per share for the quarter, topping the consensus estimate of $0.37 by $0.06. Datadog had a return on equity of 9.01% and a net margin of 6.81%. The firm had revenue of $645.28 million for the quarter, compared to analyst estimates of $624.92 million. During the same period last year, the company earned $0.36 earnings per share. The firm’s revenue for the quarter was up 26.7% on a year-over-year basis. On average, research analysts forecast that Datadog, Inc. will post 0.41 EPS for the current fiscal 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.