SVB Wealth LLC Decreases Stock Position in Datadog, Inc. (NASDAQ:DDOG)

SVB Wealth LLC cut its position in Datadog, Inc. (NASDAQ:DDOG) by 7.1% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 29,185 shares of the company’s stock after selling 2,227 shares during the quarter. SVB Wealth LLC’s holdings in Datadog were worth $3,607,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the company. First National Trust Co boosted its stake in Datadog by 3.3% during the 1st quarter. First National Trust Co now owns 2,447 shares of the company’s stock valued at $302,000 after acquiring an additional 79 shares during the last quarter. Parsons Capital Management Inc. RI increased its holdings in shares of Datadog by 1.8% in the 1st quarter. Parsons Capital Management Inc. RI now owns 4,890 shares of the company’s stock worth $604,000 after acquiring an additional 88 shares during the period. Panagora Asset Management Inc. increased its holdings in shares of Datadog by 1.0% in the 4th quarter. Panagora Asset Management Inc. now owns 9,026 shares of the company’s stock worth $1,096,000 after acquiring an additional 89 shares during the period. Benjamin F. Edwards & Company Inc. increased its holdings in shares of Datadog by 17.9% in the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 639 shares of the company’s stock worth $78,000 after acquiring an additional 97 shares during the period. Finally, AM Squared Ltd increased its holdings in shares of Datadog by 25.0% in the 4th quarter. AM Squared Ltd now owns 500 shares of the company’s stock worth $61,000 after acquiring an additional 100 shares during the period. 78.29% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO Olivier Pomel sold 200,993 shares of Datadog 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 transaction, the chief executive officer now owns 324,539 shares of the company’s stock, valued at $42,517,854.39. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, CEO Olivier Pomel sold 200,993 shares of the stock in a transaction dated 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 owns 324,539 shares in the company, valued at $42,517,854.39. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CTO Alexis Le-Quoc sold 127,105 shares of the stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $130.75, for a total transaction of $16,618,978.75. Following the completion of the sale, the chief technology officer now owns 279,025 shares of the company’s stock, valued at approximately $36,482,518.75. The disclosure for this sale can be found here. Insiders have sold a total of 857,606 shares of company stock valued at $103,799,779 over the last 90 days. 11.78% of the stock is currently owned by company insiders.

Datadog Stock Down 0.3 %

DDOG traded down $0.39 during midday trading on Monday, hitting $117.92. 2,164,208 shares of the company’s stock traded hands, compared to its average volume of 4,038,188. The company has a market cap of $39.44 billion, a PE ratio of 368.50, a price-to-earnings-growth ratio of 38.95 and a beta of 1.11. The stock’s fifty day simple moving average is $121.23 and its 200-day simple moving average is $124.00. The company has a debt-to-equity ratio of 0.34, a current ratio of 3.43 and a quick ratio of 3.43. 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 earnings per share for the quarter, beating the consensus estimate of ($0.04) by $0.20. Datadog had a net margin of 5.11% and a return on equity of 7.48%. The firm had revenue of $611.25 million for the quarter, compared to analyst estimates of $589.97 million. As a group, equities analysts anticipate that Datadog, Inc. will post 0.32 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Evercore ISI began coverage on shares of Datadog in a research note on Monday, July 15th. They set an “outperform” rating and a $150.00 target price on the stock. Wedbush restated an “outperform” rating and set a $155.00 price objective on shares of Datadog in a research report on Wednesday, June 26th. Rosenblatt Securities restated a “buy” rating and set a $146.00 price objective on shares of Datadog in a research report on Monday, May 6th. Mizuho upgraded shares of Datadog from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $135.00 to $155.00 in a research report on Tuesday, July 16th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $165.00 target price on shares of Datadog in a report on Thursday, June 27th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-eight have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Datadog presently has a consensus rating of “Moderate Buy” and an average price target 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.