Cercano Management LLC Trims Stock Position in Datadog, Inc. (NASDAQ:DDOG)

Cercano Management LLC lowered its stake in shares of Datadog, Inc. (NASDAQ:DDOG) by 95.9% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 12,557 shares of the company’s stock after selling 297,003 shares during the period. Cercano Management LLC’s holdings in Datadog were worth $1,524,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of DDOG. Massachusetts Financial Services Co. MA purchased a new position in shares of Datadog during the 3rd quarter valued at about $189,668,000. Alkeon Capital Management LLC purchased a new position in shares of Datadog during the 3rd quarter valued at about $127,526,000. Vanguard Group Inc. raised its stake in shares of Datadog by 4.7% during the 3rd quarter. Vanguard Group Inc. now owns 26,524,875 shares of the company’s stock valued at $2,416,151,000 after buying an additional 1,191,742 shares during the last quarter. Westfield Capital Management Co. LP purchased a new position in shares of Datadog during the 3rd quarter valued at about $44,939,000. Finally, Eagle Asset Management Inc. raised its stake in shares of Datadog by 83.5% during the 3rd quarter. Eagle Asset Management Inc. now owns 1,069,224 shares of the company’s stock valued at $97,396,000 after buying an additional 486,582 shares during the last quarter. Hedge funds and other institutional investors own 78.29% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on DDOG. BMO Capital Markets restated an “outperform” rating and issued a $155.00 price target (up previously from $140.00) on shares of Datadog in a research note on Wednesday, February 14th. Mizuho lifted their price target on Datadog from $108.00 to $130.00 and gave the company a “neutral” rating in a research note on Wednesday, February 14th. Barclays lifted their price target on Datadog from $138.00 to $152.00 and gave the company an “overweight” rating in a research note on Wednesday, February 14th. Wolfe Research lifted their price target on Datadog from $140.00 to $150.00 and gave the company an “outperform” rating in a research note on Wednesday, February 14th. Finally, Citigroup lifted their price target on Datadog from $125.00 to $150.00 and gave the company a “buy” rating in a research note on Monday, January 22nd. Five investment analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $131.70.

Datadog Trading Up 5.0 %

Shares of DDOG stock traded up $6.20 during trading on Friday, hitting $131.45. 5,116,602 shares of the stock traded hands, compared to its average volume of 2,961,442. The firm has a market capitalization of $43.62 billion, a P/E ratio of 1,095.42 and a beta of 1.15. The company has a debt-to-equity ratio of 0.37, a current ratio of 3.17 and a quick ratio of 3.17. The firm’s fifty day moving average price is $125.25 and its 200-day moving average price is $117.19. Datadog, Inc. has a 52-week low of $63.00 and a 52-week high of $138.61.

Datadog (NASDAQ:DDOG) last released its quarterly earnings results on Tuesday, February 13th. The company reported $0.44 EPS for the quarter, beating the consensus estimate of $0.43 by $0.01. The firm had revenue of $589.65 million for 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%. The business’s revenue for the quarter was up 25.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.08) EPS. As a group, research analysts forecast that Datadog, Inc. will post -0.14 earnings per share for the current fiscal year.

Insider Activity

In other news, CRO Sean Michael Walters sold 20,692 shares of Datadog stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $128.58, for a total transaction of $2,660,577.36. Following the sale, the executive now owns 182,593 shares of the company’s stock, valued at approximately $23,477,807.94. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other Datadog news, CRO Sean Michael Walters sold 20,692 shares of the business’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $128.58, for a total value of $2,660,577.36. Following the sale, the executive now owns 182,593 shares of the company’s stock, valued at $23,477,807.94. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Olivier Pomel sold 133,315 shares of the business’s stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $129.82, for a total value of $17,306,953.30. Following the completion of the sale, the chief executive officer now directly owns 299,075 shares in the company, valued at approximately $38,825,916.50. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 759,908 shares of company stock valued at $97,728,997. 14.97% of the stock is currently owned by company insiders.

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.