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

Bessemer Group Inc. trimmed its position in shares of Datadog, Inc. (NASDAQ:DDOGFree Report) by 28.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,680 shares of the company’s stock after selling 1,465 shares during the period. Bessemer Group Inc.’s holdings in Datadog were worth $366,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in DDOG. Asset Management One Co. Ltd. grew its holdings in Datadog by 5.8% during the 1st quarter. Asset Management One Co. Ltd. now owns 109,240 shares of the company’s stock worth $10,838,000 after acquiring an additional 5,950 shares in the last quarter. Oppenheimer & Co. Inc. grew its holdings in Datadog by 69.1% during the 1st quarter. Oppenheimer & Co. Inc. now owns 23,222 shares of the company’s stock worth $2,304,000 after acquiring an additional 9,488 shares in the last quarter. Pursue Wealth Partners LLC grew its holdings in Datadog by 38.5% during the 1st quarter. Pursue Wealth Partners LLC now owns 6,369 shares of the company’s stock worth $632,000 after acquiring an additional 1,772 shares in the last quarter. Kentucky Retirement Systems Insurance Trust Fund acquired a new position in Datadog during the 1st quarter worth $877,000. Finally, Kentucky Retirement Systems acquired a new position in Datadog during the 1st quarter worth $2,058,000. 78.29% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Matthew Jacobson sold 47,306 shares of the business’s stock in a transaction that occurred on Wednesday, May 7th. The shares were sold at an average price of $107.40, for a total transaction of $5,080,664.40. Following the transaction, the director directly owned 25,468 shares of the company’s stock, valued at approximately $2,735,263.20. The trade was a 65.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CTO Alexis Le-Quoc sold 127,105 shares of the business’s stock in a transaction that occurred on Wednesday, May 7th. The shares were sold at an average price of $105.83, for a total transaction of $13,451,522.15. Following the transaction, the chief technology officer directly owned 466,535 shares in the company, valued at $49,373,399.05. The trade was a 21.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 901,778 shares of company stock valued at $103,817,113 in the last three months. 8.70% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several brokerages have weighed in on DDOG. Royal Bank Of Canada reissued an “outperform” rating and set a $119.00 price objective on shares of Datadog in a report on Wednesday, May 7th. Stifel Nicolaus raised their price target on shares of Datadog from $120.00 to $135.00 and gave the stock a “hold” rating in a research report on Thursday, June 26th. Morgan Stanley cut their price objective on shares of Datadog from $143.00 to $115.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 16th. Wells Fargo & Company cut their price objective on shares of Datadog from $140.00 to $115.00 and set an “equal weight” rating on the stock in a research report on Wednesday, May 7th. Finally, DA Davidson boosted their price target on shares of Datadog from $115.00 to $125.00 and gave the stock a “buy” rating in a research report on Monday, May 5th. Six equities research analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company’s stock. According to data from MarketBeat.com, Datadog currently has an average rating of “Moderate Buy” and an average target price of $143.03.

Get Our Latest Stock Report on DDOG

Datadog Stock Performance

Datadog stock opened at $135.01 on Thursday. The firm’s 50 day simple moving average is $117.80 and its 200-day simple moving average is $121.10. The company has a market cap of $46.63 billion, a P/E ratio of 293.51, a price-to-earnings-growth ratio of 73.20 and a beta of 1.03. The company has a debt-to-equity ratio of 0.34, a current ratio of 2.74 and a quick ratio of 2.74. Datadog, Inc. has a fifty-two week low of $81.63 and a fifty-two week high of $170.08.

Datadog (NASDAQ:DDOGGet Free Report) last released its earnings results on Tuesday, May 6th. The company reported $0.46 earnings per share for the quarter, topping the consensus estimate of $0.42 by $0.04. The business had revenue of $761.55 million for the quarter, compared to the consensus estimate of $741.73 million. Datadog had a net margin of 5.85% and a return on equity of 6.39%. The firm’s quarterly revenue was up 24.6% compared to the same quarter last year. During the same period last year, the firm posted $0.44 earnings per share. As a group, equities research analysts predict that Datadog, Inc. will post 0.34 EPS for the current year.

Datadog Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Datadog (NASDAQ:DDOG)

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