Datadog, Inc. (NASDAQ:DDOG) Stock Holdings Lowered by Victory Capital Management Inc.

Victory Capital Management Inc. reduced its holdings in Datadog, Inc. (NASDAQ:DDOG – Get Rating) by 54.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 230,426 shares of the company’s stock after selling 270,825 shares during the quarter. Victory Capital Management Inc. owned 0.07% of Datadog worth $17,207,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Cigna Investments Inc. New raised its holdings in shares of Datadog by 4.9% in the 3rd quarter. Cigna Investments Inc. New now owns 2,898 shares of the company’s stock worth $258,000 after purchasing an additional 135 shares in the last quarter. E Fund Management Co. Ltd. raised its holdings in shares of Datadog by 6.0% in the 3rd quarter. E Fund Management Co. Ltd. now owns 2,866 shares of the company’s stock worth $254,000 after purchasing an additional 163 shares in the last quarter. Ameritas Investment Partners Inc. raised its holdings in shares of Datadog by 3.1% in the 1st quarter. Ameritas Investment Partners Inc. now owns 5,791 shares of the company’s stock worth $877,000 after purchasing an additional 172 shares in the last quarter. Pacer Advisors Inc. raised its holdings in shares of Datadog by 2.1% in the 4th quarter. Pacer Advisors Inc. now owns 9,033 shares of the company’s stock worth $664,000 after purchasing an additional 190 shares in the last quarter. Finally, M&T Bank Corp raised its holdings in shares of Datadog by 2.2% in the 3rd quarter. M&T Bank Corp now owns 9,325 shares of the company’s stock worth $828,000 after purchasing an additional 202 shares in the last quarter. 70.93% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on DDOG shares. Morgan Stanley cut their price target on shares of Datadog from $110.00 to $105.00 and set an “overweight” rating on the stock in a report on Friday, February 17th. Jefferies Financial Group increased their target price on Datadog from $85.00 to $90.00 in a report on Thursday, May 4th. Robert W. Baird decreased their target price on Datadog from $100.00 to $80.00 in a research report on Tuesday, May 2nd. Piper Sandler began coverage on Datadog in a research report on Tuesday, April 18th. They issued a “neutral” rating and a $72.00 target price for the company. Finally, Raymond James decreased their target price on Datadog from $110.00 to $100.00 and set an “outperform” rating for the company in a research report on Friday, February 17th. Seven equities research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $102.28.

Insider Buying and Selling at Datadog

In other Datadog news, COO Adam Blitzer sold 11,002 shares of the stock in a transaction on Thursday, March 2nd. The shares were sold at an average price of $73.70, for a total value of $810,847.40. Following the completion of the sale, the chief operating officer now directly owns 174,065 shares of the company’s stock, valued at approximately $12,828,590.50. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Datadog news, President Amit Agarwal sold 151,900 shares of the stock in a transaction on Monday, May 8th. The shares were sold at an average price of $77.73, for a total value of $11,807,187.00. Following the completion of the sale, the president now directly owns 280,144 shares of the company’s stock, valued at approximately $21,775,593.12. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, COO Adam Blitzer sold 11,002 shares of the stock in a transaction on Thursday, March 2nd. The shares were sold at an average price of $73.70, for a total transaction of $810,847.40. Following the completion of the sale, the chief operating officer now directly owns 174,065 shares of the company’s stock, valued at $12,828,590.50. The disclosure for this sale can be found here. Insiders sold a total of 721,932 shares of company stock valued at $53,519,700 in the last ninety days. Company insiders own 14.97% of the company’s stock.

Datadog Stock Performance

NASDAQ:DDOG opened at $93.87 on Tuesday. Datadog, Inc. has a 1 year low of $61.34 and a 1 year high of $120.75. The firm’s fifty day simple moving average is $72.24 and its 200 day simple moving average is $74.00. The company has a current ratio of 3.19, a quick ratio of 3.19 and a debt-to-equity ratio of 0.49. The firm has a market capitalization of $30.21 billion, a PE ratio of -347.65 and a beta of 0.97.

Datadog (NASDAQ:DDOG – Get Rating) last posted its earnings results on Thursday, May 4th. The company reported ($0.07) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.05). Datadog had a negative net margin of 4.68% and a negative return on equity of 4.86%. The firm had revenue of $481.71 million during the quarter, compared to analyst estimates of $468.29 million. On average, sell-side analysts anticipate that Datadog, Inc. will post -0.15 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.