Quantbot Technologies LP Lowers Stock Holdings in Datadog, Inc. (NASDAQ:DDOG)

Quantbot Technologies LP decreased its position in shares of Datadog, Inc. (NASDAQ:DDOG) by 47.1% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 15,471 shares of the company’s stock after selling 13,771 shares during the period. Quantbot Technologies LP’s holdings in Datadog were worth $1,912,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Anchor Investment Management LLC purchased a new stake in Datadog during the fourth quarter valued at about $25,000. Riverview Trust Co purchased a new position in shares of Datadog in the first quarter worth about $26,000. Raleigh Capital Management Inc. purchased a new position in shares of Datadog in the fourth quarter worth about $29,000. Private Trust Co. NA increased its holdings in shares of Datadog by 743.3% in the fourth quarter. Private Trust Co. NA now owns 253 shares of the company’s stock worth $31,000 after buying an additional 223 shares during the period. Finally, Jones Financial Companies Lllp purchased a new position in shares of Datadog in the fourth quarter worth about $33,000. Hedge funds and other institutional investors own 78.29% of the company’s stock.

Insider Buying and Selling

In related news, CEO Olivier Pomel sold 98,690 shares of the company’s stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $109.16, for a total value of $10,773,000.40. Following the completion of the transaction, the chief executive officer now owns 324,539 shares of the company’s stock, valued at approximately $35,426,677.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Datadog news, CEO Olivier Pomel sold 98,690 shares of the stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $109.16, for a total transaction of $10,773,000.40. Following the completion of the transaction, the chief executive officer now owns 324,539 shares of the company’s stock, valued at approximately $35,426,677.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO David M. Obstler sold 10,745 shares of the stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $109.45, for a total transaction of $1,176,040.25. Following the transaction, the chief financial officer now directly owns 325,028 shares of the company’s stock, valued at approximately $35,574,314.60. The disclosure for this sale can be found here. In the last quarter, insiders sold 881,530 shares of company stock valued at $106,911,095. Company insiders own 11.78% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on DDOG shares. JMP Securities upgraded Datadog to a “hold” rating in a report on Wednesday, May 8th. Robert W. Baird raised Datadog from a “neutral” rating to an “outperform” rating and lifted their price objective for the company from $130.00 to $140.00 in a research report on Wednesday, May 8th. Stifel Nicolaus reaffirmed a “buy” rating and set a $152.00 price objective on shares of Datadog in a research report on Monday, April 22nd. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $150.00 price objective on shares of Datadog in a research report on Wednesday, April 17th. Finally, Wedbush reaffirmed an “outperform” rating and set a $155.00 price objective on shares of Datadog in a research report on Wednesday, June 26th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, twenty-six have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $136.89.

Datadog Stock Performance

Shares of NASDAQ:DDOG traded up $0.61 during midday trading on Friday, hitting $127.80. The company had a trading volume of 2,863,617 shares, compared to its average volume of 4,091,496. The company has a debt-to-equity ratio of 0.34, a current ratio of 3.43 and a quick ratio of 3.43. The company has a market cap of $42.75 billion, a price-to-earnings ratio of 399.38, a PEG ratio of 41.58 and a beta of 1.11. Datadog, Inc. has a 12-month low of $77.81 and a 12-month high of $138.61. The company has a fifty day moving average of $120.48 and a two-hundred day moving average of $123.70.

Datadog (NASDAQ:DDOG) last posted its quarterly earnings data on Tuesday, May 7th. The company reported $0.16 EPS for the quarter, topping the consensus estimate of ($0.04) by $0.20. The firm had revenue of $611.25 million during the quarter, compared to analyst estimates of $589.97 million. Datadog had a return on equity of 7.48% and a net margin of 5.11%. On average, equities research analysts expect that Datadog, Inc. will post 0.32 EPS 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.