Datadog, Inc. (NASDAQ:DDOG) Shares Sold by Covington Capital Management

Covington Capital Management lowered its stake in Datadog, Inc. (NASDAQ:DDOGGet Rating) by 21.6% during the second quarter, Holdings Channel.com reports. The fund owned 545 shares of the company’s stock after selling 150 shares during the quarter. Covington Capital Management’s holdings in Datadog were worth $52,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. ICONIQ Capital LLC lifted its holdings in Datadog by 245.4% in the 1st quarter. ICONIQ Capital LLC now owns 15,791,929 shares of the company’s stock valued at $2,392,003,000 after purchasing an additional 11,219,544 shares in the last quarter. Norges Bank purchased a new position in Datadog in the 4th quarter valued at $360,540,000. Capital Research Global Investors lifted its holdings in Datadog by 67.4% in the 4th quarter. Capital Research Global Investors now owns 4,641,710 shares of the company’s stock valued at $826,735,000 after purchasing an additional 1,868,762 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its holdings in Datadog by 104.8% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 2,084,788 shares of the company’s stock valued at $315,783,000 after purchasing an additional 1,066,716 shares in the last quarter. Finally, Scge Management L.P. purchased a new position in Datadog in the 1st quarter valued at $111,785,000. Institutional investors and hedge funds own 71.98% of the company’s stock.

Insider Buying and Selling at Datadog

In other Datadog news, CFO David M. Obstler sold 10,000 shares of Datadog stock in a transaction dated Thursday, August 11th. The stock was sold at an average price of $120.25, for a total value of $1,202,500.00. Following the completion of the transaction, the chief financial officer now directly owns 209,810 shares of the company’s stock, valued at approximately $25,229,652.50. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Datadog news, CFO David M. Obstler sold 10,000 shares of Datadog stock in a transaction dated Thursday, August 11th. The stock was sold at an average price of $120.25, for a total value of $1,202,500.00. Following the completion of the transaction, the chief financial officer now directly owns 209,810 shares of the company’s stock, valued at approximately $25,229,652.50. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO David M. Obstler sold 5,000 shares of Datadog stock in a transaction dated Friday, July 29th. The shares were sold at an average price of $100.25, for a total value of $501,250.00. Following the completion of the transaction, the chief financial officer now directly owns 209,810 shares of the company’s stock, valued at $21,033,452.50. The disclosure for this sale can be found here. Insiders sold a total of 94,052 shares of company stock valued at $10,159,510 in the last three months. 15.80% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. Canaccord Genuity Group assumed coverage on Datadog in a report on Thursday, July 7th. They issued a “hold” rating and a $120.00 price objective on the stock. Monness Crespi & Hardt lowered Datadog from a “buy” rating to a “neutral” rating in a report on Thursday, August 4th. BTIG Research reduced their price target on Datadog to $137.00 in a report on Tuesday, August 9th. Citigroup reduced their price target on Datadog from $175.00 to $170.00 and set a “buy” rating on the stock in a report on Friday, August 5th. Finally, Mizuho reduced their price target on Datadog from $150.00 to $130.00 and set a “buy” rating on the stock in a report on Friday, August 5th. Five investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $150.05.

Datadog Stock Performance

NASDAQ DDOG opened at $93.80 on Tuesday. The company has a market cap of $29.68 billion, a P/E ratio of 9,389.39 and a beta of 1.13. The company has a debt-to-equity ratio of 0.61, a current ratio of 3.31 and a quick ratio of 3.31. The stock has a 50-day moving average of $102.00 and a two-hundred day moving average of $111.13. Datadog, Inc. has a 1-year low of $81.12 and a 1-year high of $199.68.

Datadog (NASDAQ:DDOGGet Rating) last released its earnings results on Thursday, August 4th. The company reported $0.24 earnings per share for the quarter, beating the consensus estimate of $0.14 by $0.10. The company had revenue of $406.14 million during the quarter, compared to the consensus estimate of $381.28 million. Datadog had a return on equity of 2.24% and a net margin of 0.48%. Datadog’s revenue was up 73.9% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.02) EPS. As a group, analysts anticipate that Datadog, Inc. will post -0.14 EPS for the current year.

About Datadog

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Datadog, Inc provides monitoring and analytics platform for developers, information technology operations teams, and business users in the cloud in North America and internationally. The company's SaaS platform integrates and automates infrastructure monitoring, application performance monitoring, log management, and security monitoring to provide real-time observability of its customers technology stack.

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Institutional Ownership by Quarter for Datadog (NASDAQ:DDOG)

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