Datadog, Inc. (NASDAQ:DDOG) Position Reduced by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC trimmed its stake in shares of Datadog, Inc. (NASDAQ:DDOG) by 95.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 32,346 shares of the company’s stock after selling 711,729 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Datadog were worth $3,269,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the stock. Putney Financial Group LLC bought a new stake in Datadog during the fourth quarter valued at $32,000. Elequin Capital LP bought a new stake in Datadog during the fourth quarter valued at $34,000. Opal Wealth Advisors LLC bought a new stake in Datadog during the first quarter valued at $37,000. Center for Financial Planning Inc. boosted its holdings in shares of Datadog by 1,189.7% during the first quarter. Center for Financial Planning Inc. now owns 374 shares of the company’s stock valued at $37,000 after acquiring an additional 345 shares during the period. Finally, MassMutual Private Wealth & Trust FSB boosted its holdings in shares of Datadog by 74.0% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 381 shares of the company’s stock valued at $38,000 after acquiring an additional 162 shares during the period. 78.29% of the stock is currently owned by institutional investors.

Datadog Price Performance

DDOG stock opened at $155.60 on Monday. Datadog, Inc. has a one year low of $81.63 and a one year high of $170.08. The firm has a 50-day moving average of $120.00 and a two-hundred day moving average of $120.71. The firm has a market capitalization of $53.73 billion, a PE ratio of 338.26, a P/E/G ratio of 85.83 and a beta of 1.03. The company has a current ratio of 2.74, a quick ratio of 2.74 and a debt-to-equity ratio of 0.34.

Datadog (NASDAQ:DDOG) last announced its earnings results on Tuesday, May 6th. The company reported $0.46 EPS for the quarter, topping the consensus estimate of $0.42 by $0.04. Datadog had a net margin of 5.85% and a return on equity of 6.39%. The company had revenue of $761.55 million during the quarter, compared to analysts’ expectations of $741.73 million. During the same period last year, the company posted $0.44 earnings per share. The business’s revenue for the quarter was up 24.6% on a year-over-year basis. On average, analysts forecast that Datadog, Inc. will post 0.34 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. Bank of America boosted their price target on shares of Datadog from $138.00 to $150.00 and gave the company a “buy” rating in a report on Wednesday, June 18th. Needham & Company LLC set a $140.00 price target on shares of Datadog and gave the company a “buy” rating in a report on Thursday, June 12th. Wedbush reissued an “outperform” rating and set a $140.00 price target on shares of Datadog in a report on Wednesday, June 11th. Cantor Fitzgerald reissued an “overweight” rating and set a $134.00 price target on shares of Datadog in a report on Wednesday, May 7th. Finally, Rosenblatt Securities reduced their price target on shares of Datadog from $160.00 to $150.00 and set a “buy” rating for the company in a report on Monday, May 5th. Six analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $143.03.

Insider Buying and Selling

In other Datadog news, CTO Alexis Le-Quoc sold 127,105 shares of the firm’s stock in a transaction dated Wednesday, May 7th. The shares were sold at an average price of $105.83, for a total value of $13,451,522.15. Following the completion of the transaction, the chief technology officer directly owned 466,535 shares in the company, valued at $49,373,399.05. This trade represents a 21.41% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Amit Agarwal sold 25,000 shares of the stock in a transaction that occurred on Wednesday, May 28th. The stock was sold at an average price of $117.02, for a total transaction of $2,925,500.00. Following the completion of the sale, the director directly owned 76,052 shares of the company’s stock, valued at $8,899,605.04. This trade represents a 24.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 794,413 shares of company stock valued at $94,440,927. Company insiders own 8.70% of the company’s stock.

Datadog 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.