Arnhold LLC Reduces Stake in Datadog, Inc. (NASDAQ:DDOG)

Arnhold LLC lowered its holdings in Datadog, Inc. (NASDAQ:DDOG) by 7.3% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 2,587 shares of the company’s stock after selling 205 shares during the quarter. Arnhold LLC’s holdings in Datadog were worth $314,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the business. Vanguard Group Inc. increased its holdings in shares of Datadog by 4.7% in the 3rd quarter. Vanguard Group Inc. now owns 26,524,875 shares of the company’s stock valued at $2,416,151,000 after acquiring an additional 1,191,742 shares during the last quarter. Artisan Partners Limited Partnership increased its holdings in shares of Datadog by 11.7% in the 3rd quarter. Artisan Partners Limited Partnership now owns 2,330,404 shares of the company’s stock valued at $212,276,000 after acquiring an additional 244,567 shares during the last quarter. Massachusetts Financial Services Co. MA purchased a new position in shares of Datadog in the 3rd quarter valued at about $189,668,000. Northern Trust Corp increased its holdings in shares of Datadog by 8.4% in the 3rd quarter. Northern Trust Corp now owns 1,688,422 shares of the company’s stock valued at $153,798,000 after acquiring an additional 131,464 shares during the last quarter. Finally, Alkeon Capital Management LLC acquired a new stake in shares of Datadog in the 3rd quarter valued at about $127,526,000. 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 23,924 shares of the firm’s stock in a transaction on Tuesday, April 23rd. The stock was sold at an average price of $130.05, for a total transaction of $3,111,316.20. Following the completion of the transaction, the chief executive officer now owns 337,247 shares of the company’s stock, valued at $43,858,972.35. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, CFO David M. Obstler sold 31,007 shares of Datadog stock in a transaction on Monday, March 4th. The stock was sold at an average price of $128.58, for a total value of $3,986,880.06. Following the completion of the sale, the chief financial officer now owns 275,191 shares of the company’s stock, valued at $35,384,058.78. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Olivier Pomel sold 23,924 shares of Datadog stock in a transaction on Tuesday, April 23rd. The shares were sold at an average price of $130.05, for a total value of $3,111,316.20. Following the completion of the sale, the chief executive officer now directly owns 337,247 shares of the company’s stock, valued at approximately $43,858,972.35. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 759,908 shares of company stock valued at $97,728,997. Corporate insiders own 14.97% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on DDOG shares. Royal Bank of Canada upped their target price on Datadog from $145.00 to $151.00 and gave the company an “outperform” rating in a research report on Wednesday, February 14th. Canaccord Genuity Group reissued a “buy” rating and issued a $150.00 target price on shares of Datadog in a research report on Friday, February 23rd. Mizuho upped their target price on Datadog from $108.00 to $130.00 and gave the company a “neutral” rating in a research report on Wednesday, February 14th. Citigroup upped their target price on Datadog from $125.00 to $150.00 and gave the company a “buy” rating in a research report on Monday, January 22nd. Finally, Wolfe Research increased their price objective on Datadog from $140.00 to $150.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 14th. Five equities research analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $131.70.

Datadog Price Performance

NASDAQ DDOG traded down $3.57 during mid-day trading on Tuesday, hitting $125.50. The stock had a trading volume of 3,415,306 shares, compared to its average volume of 4,023,186. Datadog, Inc. has a 52-week low of $63.00 and a 52-week high of $138.61. The company has a market cap of $41.65 billion, a price-to-earnings ratio of 1,045.83 and a beta of 1.16. The company has a 50 day simple moving average of $125.19 and a 200 day simple moving average of $117.94. The company has a quick ratio of 3.17, a current ratio of 3.17 and a debt-to-equity ratio of 0.37.

Datadog (NASDAQ:DDOG) last released its quarterly earnings data on Tuesday, February 13th. The company reported $0.44 earnings per share for the quarter, beating the consensus estimate of $0.43 by $0.01. Datadog had a return on equity of 3.79% and a net margin of 2.28%. The firm had revenue of $589.65 million during the quarter, compared to the consensus estimate of $568.73 million. During the same period last year, the business posted ($0.08) EPS. Datadog’s quarterly revenue was up 25.6% on a year-over-year basis. Equities analysts forecast that Datadog, Inc. will post -0.14 EPS 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.