Westfield Capital Management Co. LP Sells 11,452 Shares of Datadog, Inc. (NASDAQ:DDOG)

Westfield Capital Management Co. LP trimmed its position in shares of Datadog, Inc. (NASDAQ:DDOG) by 2.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 499,579 shares of the company’s stock after selling 11,452 shares during the quarter. Westfield Capital Management Co. LP owned 0.15% of Datadog worth $61,748,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in DDOG. Norges Bank bought a new position in shares of Datadog during the fourth quarter worth $384,986,000. 1832 Asset Management L.P. raised its holdings in shares of Datadog by 47.9% during the fourth quarter. 1832 Asset Management L.P. now owns 2,619,500 shares of the company’s stock worth $317,955,000 after acquiring an additional 848,000 shares during the period. Vanguard Group Inc. raised its holdings in shares of Datadog by 2.8% during the fourth quarter. Vanguard Group Inc. now owns 27,259,414 shares of the company’s stock worth $3,308,748,000 after acquiring an additional 734,539 shares during the period. Massachusetts Financial Services Co. MA raised its holdings in shares of Datadog by 31.3% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 2,733,448 shares of the company’s stock worth $331,786,000 after acquiring an additional 651,244 shares during the period. Finally, Allspring Global Investments Holdings LLC raised its holdings in shares of Datadog by 47.5% during the first quarter. Allspring Global Investments Holdings LLC now owns 895,183 shares of the company’s stock worth $110,645,000 after acquiring an additional 288,257 shares during the period. 78.29% of the stock is owned by institutional investors.

Insider Activity at Datadog

In other news, CEO Olivier Pomel sold 85,637 shares of the firm’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $125.41, for a total transaction of $10,739,736.17. Following the completion of the transaction, the chief executive officer now owns 337,247 shares of the company’s stock, valued at $42,294,146.27. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO Olivier Pomel sold 85,637 shares of the firm’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $125.41, for a total transaction of $10,739,736.17. Following the completion of the transaction, the chief executive officer now owns 337,247 shares of the company’s stock, valued at $42,294,146.27. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Madre Armelle De sold 1,749 shares of the firm’s stock in a transaction on Friday, June 7th. The shares were sold at an average price of $109.44, for a total transaction of $191,410.56. Following the transaction, the insider now directly owns 93,774 shares of the company’s stock, valued at approximately $10,262,626.56. The disclosure for this sale can be found here. Insiders sold a total of 881,530 shares of company stock valued at $106,911,095 in the last quarter. Insiders own 11.78% of the company’s stock.

Datadog Price Performance

Shares of Datadog stock traded up $0.21 on Friday, reaching $119.03. 2,538,558 shares of the stock were exchanged, compared to its average volume of 3,589,341. The firm has a market cap of $39.82 billion, a PE ratio of 371.97, a P/E/G ratio of 39.19 and a beta of 1.11. The company has a debt-to-equity ratio of 0.34, a quick ratio of 3.43 and a current ratio of 3.43. The firm’s 50 day moving average is $121.11 and its 200-day moving average is $123.84. Datadog, Inc. has a one year low of $77.81 and a one year high of $138.61.

Datadog (NASDAQ:DDOG) last issued its quarterly earnings data on Tuesday, May 7th. The company reported $0.16 EPS for the quarter, beating the consensus estimate of ($0.04) by $0.20. The business had revenue of $611.25 million during the quarter, compared to the consensus estimate of $589.97 million. Datadog had a net margin of 5.11% and a return on equity of 7.48%. As a group, analysts anticipate that Datadog, Inc. will post 0.32 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

DDOG has been the topic of a number of research analyst reports. BMO Capital Markets dropped their price objective on shares of Datadog from $155.00 to $140.00 and set an “outperform” rating on the stock in a report on Wednesday, May 8th. JMP Securities raised shares of Datadog to a “hold” rating in a research report on Wednesday, May 8th. Stifel Nicolaus reissued a “buy” rating and set a $152.00 price target on shares of Datadog in a research report on Monday, April 22nd. Barclays cut their price target on shares of Datadog from $152.00 to $145.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 8th. Finally, Wedbush reissued an “outperform” rating and set a $155.00 price target on shares of Datadog in a research report on Wednesday, June 26th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $138.21.

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.