Datadog, Inc. (NASDAQ:DDOG) Holdings Trimmed by Renaissance Technologies LLC

Renaissance Technologies LLC lowered its position in shares of Datadog, Inc. (NASDAQ:DDOG) by 8.1% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 1,743,052 shares of the company’s stock after selling 154,400 shares during the period. Renaissance Technologies LLC’s holdings in Datadog were worth $226,056,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. SouthState Corp bought a new position in Datadog during the second quarter valued at about $26,000. Riverview Trust Co bought a new position in Datadog during the first quarter valued at about $26,000. Raleigh Capital Management Inc. bought a new position in Datadog during the fourth quarter valued at about $29,000. Jones Financial Companies Lllp bought a new position in Datadog during the fourth quarter valued at about $33,000. Finally, Quest Partners LLC bought a new position in Datadog during the fourth quarter valued at about $36,000. Institutional investors own 78.29% of the company’s stock.

Datadog Price Performance

Shares of Datadog stock opened at $109.26 on Monday. The firm has a market cap of $36.55 billion, a price-to-earnings ratio of 341.44, a P/E/G ratio of 27.84 and a beta of 1.11. Datadog, Inc. has a 52-week low of $77.81 and a 52-week high of $138.61. The stock has a 50-day simple moving average of $116.11 and a 200-day simple moving average of $120.08.

Datadog (NASDAQ:DDOG) last announced its earnings results on Thursday, August 8th. The company reported $0.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.37 by $0.06. Datadog had a return on equity of 9.01% and a net margin of 6.81%. The firm had revenue of $645.28 million during the quarter, compared to analysts’ expectations of $624.92 million. During the same quarter in the prior year, the business earned $0.36 earnings per share. The company’s revenue was up 26.7% on a year-over-year basis. As a group, equities research analysts predict that Datadog, Inc. will post 0.41 earnings per share for the current year.

Insider Activity at Datadog

In other Datadog news, CEO Olivier Pomel sold 200,993 shares of the business’s stock in a transaction on Monday, July 8th. The shares were 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 document filed with the SEC, which can be accessed through this hyperlink. In other Datadog news, Director Matthew Jacobson sold 9,256 shares of Datadog stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $108.05, for a total value of $1,000,110.80. Following the transaction, the director now directly owns 48,411 shares of the company’s stock, valued at approximately $5,230,808.55. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Olivier Pomel sold 200,993 shares of the stock in a transaction that occurred on Monday, July 8th. The shares were sold at an average price of $131.01, for a total value of $26,332,092.93. Following the completion of the sale, the chief executive officer now directly owns 324,539 shares of the company’s stock, valued at $42,517,854.39. The disclosure for this sale can be found here. In the last three months, insiders have sold 561,997 shares of company stock worth $68,517,631. 11.78% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on DDOG. UBS Group raised their target price on Datadog from $120.00 to $125.00 and gave the company a “neutral” rating in a research note on Friday, August 9th. BTIG Research raised Datadog from a “neutral” rating to a “buy” rating and set a $143.00 price target on the stock in a research note on Thursday, August 1st. Monness Crespi & Hardt raised Datadog from a “sell” rating to a “neutral” rating in a research note on Wednesday, August 7th. Scotiabank dropped their price target on Datadog from $145.00 to $135.00 and set a “sector outperform” rating on the stock in a research note on Friday, August 9th. Finally, Needham & Company LLC dropped their price target on Datadog from $165.00 to $140.00 and set a “buy” rating on the stock in a research note on Friday, August 9th. Four analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $139.88.

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.