Element Capital Management LLC Lowers Position in Datadog, Inc. (NASDAQ:DDOG)

Element Capital Management LLC trimmed its position in shares of Datadog, Inc. (NASDAQ:DDOG) by 39.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,892 shares of the company’s stock after selling 3,141 shares during the quarter. Element Capital Management LLC’s holdings in Datadog were worth $634,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. SouthState Corp acquired a new position in Datadog during the 2nd quarter worth approximately $26,000. Riverview Trust Co purchased a new stake in shares of Datadog in the first quarter valued at approximately $26,000. Raleigh Capital Management Inc. purchased a new position in Datadog in the fourth quarter worth $29,000. Jones Financial Companies Lllp purchased a new stake in shares of Datadog during the 4th quarter worth $33,000. Finally, Quest Partners LLC acquired a new position in shares of Datadog during the 4th quarter worth $36,000. 78.29% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, insider Madre Armelle De sold 1,749 shares of Datadog stock in a transaction on Thursday, June 27th. The stock was sold at an average price of $125.00, for a total value of $218,625.00. Following the transaction, the insider now owns 92,025 shares in the company, valued at $11,503,125. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Madre Armelle De sold 1,749 shares of the firm’s stock in a transaction dated Thursday, June 27th. The stock was sold at an average price of $125.00, for a total value of $218,625.00. Following the transaction, the insider now directly owns 92,025 shares in the company, valued at approximately $11,503,125. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CTO Alexis Le-Quoc sold 127,105 shares of Datadog stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $130.75, for a total value of $16,618,978.75. Following the completion of the transaction, the chief technology officer now directly owns 279,025 shares in the company, valued at $36,482,518.75. The disclosure for this sale can be found here. Insiders sold 561,997 shares of company stock valued at $68,517,631 in the last ninety days. Company insiders own 11.78% of the company’s stock.

Datadog Trading Down 0.3 %

Shares of NASDAQ:DDOG opened at $109.26 on Friday. Datadog, Inc. has a 12-month low of $77.81 and a 12-month high of $138.61. The stock’s 50-day moving average price is $116.11 and its two-hundred day moving average price is $120.15. The firm has a market cap of $36.55 billion, a price-to-earnings ratio of 341.44, a PEG ratio of 27.84 and a beta of 1.11.

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

Analyst Upgrades and Downgrades

DDOG has been the subject of a number of research reports. BMO Capital Markets reduced their price target on shares of Datadog from $140.00 to $132.00 and set an “outperform” rating for the company in a research report on Friday, August 9th. Evercore ISI started coverage on Datadog in a research report on Monday, July 15th. They set an “outperform” rating and a $150.00 target price on the stock. Monness Crespi & Hardt raised Datadog from a “sell” rating to a “neutral” rating in a report on Wednesday, August 7th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $150.00 price target on shares of Datadog in a research note on Monday, July 22nd. Finally, Wedbush reiterated an “outperform” rating and issued a $155.00 price objective on shares of Datadog in a research report on Friday, August 9th. Four research analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $139.88.

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.