Datadog, Inc. (NASDAQ:DDOG) Stock Holdings Reduced by Steadview Capital Management LLC

Steadview Capital Management LLC lowered its stake in shares of Datadog, Inc. (NASDAQ:DDOG) by 6.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 305,620 shares of the company’s stock after selling 22,750 shares during the period. Datadog accounts for approximately 12.7% of Steadview Capital Management LLC’s portfolio, making the stock its 5th largest holding. Steadview Capital Management LLC owned 0.09% of Datadog worth $37,096,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Massachusetts Financial Services Co. MA purchased a new stake in shares of Datadog during the third quarter worth $189,668,000. Quintet Private Bank Europe S.A. purchased a new stake in shares of Datadog during the third quarter worth $270,000. Mengis Capital Management Inc. purchased a new stake in shares of Datadog during the third quarter worth $409,000. Bank of New York Mellon Corp lifted its position in shares of Datadog by 2.5% during the third quarter. Bank of New York Mellon Corp now owns 1,378,534 shares of the company’s stock worth $125,571,000 after acquiring an additional 33,748 shares in the last quarter. Finally, Cercano Management LLC lifted its position in shares of Datadog by 40.4% during the third quarter. Cercano Management LLC now owns 309,560 shares of the company’s stock worth $28,198,000 after acquiring an additional 89,019 shares in the last quarter. Hedge funds and other institutional investors own 78.29% of the company’s stock.

Insiders Place Their Bets

In other Datadog news, insider Madre Armelle De sold 600 shares of the firm’s stock in a transaction dated Monday, April 8th. The shares were sold at an average price of $125.34, for a total value of $75,204.00. Following the completion of the sale, the insider now directly owns 100,353 shares in the company, valued at $12,578,245.02. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Datadog news, insider Madre Armelle De sold 600 shares of the firm’s stock in a transaction dated Monday, April 8th. The shares were sold at an average price of $125.34, for a total value of $75,204.00. Following the completion of the sale, the insider now directly owns 100,353 shares in the company, valued at $12,578,245.02. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO David M. Obstler sold 70,000 shares of the firm’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $120.73, for a total transaction of $8,451,100.00. Following the transaction, the chief financial officer now directly owns 275,191 shares of the company’s stock, valued at approximately $33,223,809.43. The disclosure for this sale can be found here. Insiders sold 759,908 shares of company stock worth $97,728,997 over the last three months. Company insiders own 11.78% of the company’s stock.

Analyst Ratings Changes

DDOG has been the topic of several recent research reports. Needham & Company LLC increased their target price on Datadog from $125.00 to $165.00 and gave the stock a “buy” rating in a research report on Tuesday, February 13th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $150.00 price target on shares of Datadog in a report on Wednesday, April 17th. Truist Financial upped their price target on shares of Datadog from $140.00 to $155.00 and gave the stock a “buy” rating in a report on Wednesday, February 14th. Robert W. Baird upped their price target on shares of Datadog from $120.00 to $130.00 and gave the stock a “neutral” rating in a report on Wednesday, February 14th. Finally, Mizuho upped their price target on shares of Datadog from $108.00 to $130.00 and gave the stock a “neutral” rating in a report on Wednesday, February 14th. Five analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $131.70.

Datadog Trading Down 0.9 %

Shares of Datadog stock traded down $1.19 during trading on Friday, reaching $124.27. 3,884,462 shares of the stock were exchanged, compared to its average volume of 3,407,850. The company has a quick ratio of 3.17, a current ratio of 3.17 and a debt-to-equity ratio of 0.37. The stock’s fifty day moving average is $124.99 and its 200 day moving average is $118.29. The firm has a market cap of $41.24 billion, a price-to-earnings ratio of 1,035.58 and a beta of 1.14. Datadog, Inc. has a 1 year low of $70.00 and a 1 year high of $138.61.

Datadog (NASDAQ:DDOG) last posted its earnings results on Tuesday, February 13th. The company reported $0.44 earnings per share for the quarter, topping analysts’ consensus estimates of $0.43 by $0.01. The company had revenue of $589.65 million during the quarter, compared to analyst estimates of $568.73 million. Datadog had a net margin of 2.28% and a return on equity of 3.79%. Datadog’s revenue for the quarter was up 25.6% on a year-over-year basis. During the same period in the prior year, the business posted ($0.08) earnings per share. As a group, equities research analysts expect that Datadog, Inc. will post -0.14 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.