Allen Investment Management LLC Decreases Position in Datadog, Inc. (NASDAQ:DDOG)

Allen Investment Management LLC lessened its holdings in shares of Datadog, Inc. (NASDAQ:DDOG) by 67.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,448 shares of the company’s stock after selling 5,133 shares during the period. Allen Investment Management LLC’s holdings in Datadog were worth $303,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in DDOG. Anchor Investment Management LLC purchased a new position in Datadog in the 4th quarter worth $25,000. Riverview Trust Co purchased a new position in Datadog in the 1st quarter worth $26,000. Raleigh Capital Management Inc. purchased a new position in Datadog in the 4th quarter worth $29,000. Private Trust Co. NA raised its stake in Datadog by 743.3% in the 4th quarter. Private Trust Co. NA now owns 253 shares of the company’s stock worth $31,000 after acquiring an additional 223 shares during the last quarter. Finally, Jones Financial Companies Lllp purchased a new position in Datadog in the 4th quarter worth $33,000. Hedge funds and other institutional investors own 78.29% of the company’s stock.

Insiders Place Their Bets

In other Datadog news, CEO Olivier Pomel sold 200,993 shares of the company’s stock in a transaction on Monday, July 8th. The stock was sold at an average price of $131.01, for a total transaction of $26,332,092.93. Following the transaction, the chief executive officer now directly owns 324,539 shares in the company, valued at $42,517,854.39. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CTO Alexis Le-Quoc sold 127,105 shares of the stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $130.75, for a total transaction of $16,618,978.75. Following the completion of the sale, the chief technology officer now owns 279,025 shares in the company, valued at $36,482,518.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Olivier Pomel sold 200,993 shares of the stock in a transaction dated Monday, July 8th. The stock was sold at an average price of $131.01, for a total transaction of $26,332,092.93. Following the sale, the chief executive officer now owns 324,539 shares of the company’s stock, valued at approximately $42,517,854.39. The disclosure for this sale can be found here. Insiders have sold 881,530 shares of company stock worth $106,911,095 over the last ninety days. Corporate insiders own 11.78% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. Barclays reduced their target price on Datadog from $152.00 to $145.00 and set an “overweight” rating for the company in a research note on Wednesday, May 8th. Monness Crespi & Hardt reaffirmed a “sell” rating and set a $98.00 price target (down from $290.00) on shares of Datadog in a research report on Friday, June 14th. Robert W. Baird raised Datadog from a “neutral” rating to an “outperform” rating and increased their price target for the stock from $130.00 to $140.00 in a research report on Wednesday, May 8th. Wedbush reaffirmed an “outperform” rating and set a $155.00 price target on shares of Datadog in a research report on Wednesday, June 26th. Finally, Bank of America raised Datadog from a “neutral” rating to a “buy” rating and increased their price target for the stock from $143.00 to $155.00 in a research report on Thursday, May 30th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, twenty-six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $136.89.

Datadog Price Performance

Shares of Datadog stock traded up $0.61 on Friday, hitting $127.80. 2,863,667 shares of the company were exchanged, compared to its average volume of 3,285,966. The stock has a market capitalization of $42.75 billion, a price-to-earnings ratio of 399.38, a price-to-earnings-growth ratio of 41.88 and a beta of 1.11. The company has a 50-day moving average price of $120.56 and a 200 day moving average price of $123.74. Datadog, Inc. has a 1-year low of $77.81 and a 1-year high of $138.61. The company has a quick ratio of 3.43, a current ratio of 3.43 and a debt-to-equity ratio of 0.34.

Datadog (NASDAQ:DDOG) last issued its earnings results on Tuesday, May 7th. The company reported $0.16 earnings per share for the quarter, topping the consensus estimate of ($0.04) by $0.20. The business had revenue of $611.25 million for the quarter, compared to analysts’ expectations of $589.97 million. Datadog had a return on equity of 7.48% and a net margin of 5.11%. As a group, sell-side analysts predict that Datadog, Inc. will post 0.32 earnings per share for the current fiscal year.

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.