Principal Financial Group Inc. Sells 5,333 Shares of Datadog, Inc. (NASDAQ:DDOG)

Principal Financial Group Inc. decreased its holdings in Datadog, Inc. (NASDAQ:DDOG) by 15.8% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 28,420 shares of the company’s stock after selling 5,333 shares during the quarter. Principal Financial Group Inc.’s holdings in Datadog were worth $2,065,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in shares of Datadog by 1.5% during the 1st quarter. Vanguard Group Inc. now owns 22,492,050 shares of the company’s stock worth $3,406,871,000 after purchasing an additional 322,533 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in Datadog by 10.3% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 9,985,810 shares of the company’s stock valued at $733,957,000 after purchasing an additional 929,566 shares during the period. Voya Investment Management LLC boosted its holdings in Datadog by 17.8% in the 4th quarter. Voya Investment Management LLC now owns 6,253,252 shares of the company’s stock valued at $459,614,000 after purchasing an additional 945,516 shares during the period. Baillie Gifford & Co. boosted its holdings in Datadog by 5.6% in the 1st quarter. Baillie Gifford & Co. now owns 6,094,802 shares of the company’s stock valued at $442,848,000 after purchasing an additional 324,130 shares during the period. Finally, Sands Capital Management LLC lifted its holdings in shares of Datadog by 31.1% during the 4th quarter. Sands Capital Management LLC now owns 4,066,310 shares of the company’s stock worth $298,874,000 after acquiring an additional 965,045 shares during the last quarter. Hedge funds and other institutional investors own 68.30% of the company’s stock.

Datadog Price Performance

Datadog stock opened at $97.73 on Tuesday. The stock has a market cap of $31.76 billion, a price-to-earnings ratio of -375.88, a price-to-earnings-growth ratio of 1,670.60 and a beta of 0.98. Datadog, Inc. has a 1 year low of $61.34 and a 1 year high of $118.02. The company has a debt-to-equity ratio of 0.45, a current ratio of 3.41 and a quick ratio of 3.42. The firm has a 50-day moving average of $100.74 and a two-hundred day moving average of $86.72.

Datadog (NASDAQ:DDOG) last released its earnings results on Tuesday, August 8th. The company reported $0.36 earnings per share for the quarter, topping the consensus estimate of $0.28 by $0.08. The company had revenue of $509.46 million for the quarter, compared to the consensus estimate of $501.55 million. Datadog had a negative net margin of 4.38% and a negative return on equity of 4.66%. Datadog’s revenue was up 25.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.24 EPS.

Analysts Set New Price Targets

A number of research firms have recently issued reports on DDOG. Robert W. Baird lifted their price objective on shares of Datadog from $87.00 to $100.00 in a report on Wednesday, August 9th. Needham & Company LLC restated a “buy” rating and issued a $110.00 price objective on shares of Datadog in a research report on Thursday, August 17th. Mizuho reduced their price target on shares of Datadog from $112.00 to $98.00 in a research report on Wednesday, August 9th. Morgan Stanley dropped their price objective on shares of Datadog from $105.00 to $100.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 9th. Finally, Rosenblatt Securities boosted their price objective on shares of Datadog from $100.00 to $110.00 and gave the stock a “buy” rating in a research note on Tuesday, August 8th. Six equities research analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $107.45.

Insider Activity

In other news, President Amit Agarwal sold 124,000 shares of the company’s stock in a transaction on Thursday, August 17th. The shares were sold at an average price of $90.15, for a total value of $11,178,600.00. Following the sale, the president now directly owns 269,141 shares of the company’s stock, valued at approximately $24,263,061.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CFO David M. Obstler sold 70,000 shares of the stock in a transaction on Monday, June 12th. The shares were sold at an average price of $96.19, for a total transaction of $6,733,300.00. Following the sale, the chief financial officer now directly owns 275,218 shares of the company’s stock, valued at $26,473,219.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, President Amit Agarwal sold 124,000 shares of the stock in a transaction on Thursday, August 17th. The stock was sold at an average price of $90.15, for a total transaction of $11,178,600.00. Following the sale, the president now directly owns 269,141 shares in the company, valued at $24,263,061.15. The disclosure for this sale can be found here. Insiders have sold 1,070,407 shares of company stock valued at $101,910,610 in the last ninety days. Insiders own 14.97% of the company’s stock.

Datadog Company Profile

Datadog, Inc operates an observability and security platform for cloud applications in North America and internationally. The company's products include infrastructure and application performance monitoring, log management, digital experience monitoring, continuous profiler, database monitoring, network monitoring, incident management, observability pipelines, cloud cost management, universal service monitoring, cloud security management, application security management.