Bleakley Financial Group LLC Reduces Stake in Datadog, Inc. (NASDAQ:DDOG)

Bleakley Financial Group LLC decreased its stake in shares of Datadog, Inc. (NASDAQ:DDOG) by 16.5% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 3,182 shares of the company’s stock after selling 630 shares during the period. Bleakley Financial Group LLC’s holdings in Datadog were worth $393,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Spire Wealth Management increased its stake in Datadog by 2,148.5% in the 4th quarter. Spire Wealth Management now owns 5,329 shares of the company’s stock worth $694,000 after acquiring an additional 5,092 shares during the last quarter. Hsbc Holdings PLC increased its stake in Datadog by 47.8% in the 4th quarter. Hsbc Holdings PLC now owns 193,390 shares of the company’s stock worth $23,505,000 after acquiring an additional 62,533 shares during the last quarter. Congress Asset Management Co. MA bought a new position in Datadog in the 1st quarter worth about $1,083,000. Massachusetts Financial Services Co. MA increased its stake in Datadog by 31.3% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 2,733,448 shares of the company’s stock worth $331,786,000 after acquiring an additional 651,244 shares during the last quarter. Finally, Zevenbergen Capital Investments LLC increased its stake in Datadog by 5.6% in the 4th quarter. Zevenbergen Capital Investments LLC now owns 165,405 shares of the company’s stock worth $20,077,000 after acquiring an additional 8,830 shares during the last quarter. Hedge funds and other institutional investors own 78.29% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on DDOG shares. Bank of America upgraded Datadog from a “neutral” rating to a “buy” rating and upped their target price for the stock from $143.00 to $155.00 in a research note on Thursday, May 30th. Evercore ISI began coverage on Datadog in a research report on Monday. They set an “outperform” rating and a $150.00 price objective on the stock. Baird R W upgraded Datadog from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, May 8th. Needham & Company LLC reiterated a “buy” rating and set a $165.00 price objective on shares of Datadog in a research report on Thursday, June 27th. Finally, BMO Capital Markets reduced their price objective on Datadog from $155.00 to $140.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 8th. One analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-eight have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $138.21.

Insider Activity

In related news, CEO Olivier Pomel sold 200,993 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now owns 324,539 shares of the company’s stock, valued at approximately $42,517,854.39. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, CEO Olivier Pomel sold 200,993 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now owns 324,539 shares of the company’s stock, valued at approximately $42,517,854.39. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CTO Alexis Le-Quoc sold 127,105 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $130.75, for a total value of $16,618,978.75. Following the transaction, the chief technology officer now directly owns 279,025 shares of the company’s stock, valued at approximately $36,482,518.75. The disclosure for this sale can be found here. Insiders sold a total of 881,530 shares of company stock worth $106,911,095 in the last quarter. 11.78% of the stock is owned by company insiders.

Datadog Trading Up 0.2 %

DDOG opened at $119.05 on Friday. The stock has a market cap of $39.82 billion, a PE ratio of 371.31, a PEG ratio of 39.89 and a beta of 1.11. The company has a quick ratio of 3.43, a current ratio of 3.43 and a debt-to-equity ratio of 0.34. The business has a 50 day moving average of $121.11 and a 200-day moving average of $123.80. Datadog, Inc. has a 52 week low of $77.81 and a 52 week high of $138.61.

Datadog (NASDAQ:DDOG) last released its earnings results on Tuesday, May 7th. The company reported $0.16 EPS for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.20. The company had revenue of $611.25 million during 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%. Equities research analysts predict that Datadog, Inc. will post 0.32 earnings per share for the current fiscal year.

About Datadog

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.