Knowledge Leaders Capital LLC Decreases Position in Datadog, Inc. (NASDAQ:DDOG)

Knowledge Leaders Capital LLC cut its stake in Datadog, Inc. (NASDAQ:DDOG) by 3.1% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 6,143 shares of the company’s stock after selling 198 shares during the quarter. Knowledge Leaders Capital LLC’s holdings in Datadog were worth $746,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Massachusetts Financial Services Co. MA purchased a new position in Datadog in the 3rd quarter valued at about $189,668,000. Quintet Private Bank Europe S.A. purchased a new position in Datadog in the 3rd quarter valued at about $270,000. Mengis Capital Management Inc. purchased a new position in Datadog in the 3rd quarter valued at about $409,000. Bank of New York Mellon Corp lifted its stake in Datadog by 2.5% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,378,534 shares of the company’s stock valued at $125,571,000 after buying an additional 33,748 shares in the last quarter. Finally, Cercano Management LLC lifted its stake in Datadog by 40.4% in the 3rd quarter. Cercano Management LLC now owns 309,560 shares of the company’s stock valued at $28,198,000 after buying an additional 89,019 shares in the last quarter. 78.29% of the stock is owned by hedge funds and other institutional investors.

Datadog Stock Up 5.0 %

Shares of NASDAQ:DDOG traded up $6.20 during trading on Friday, hitting $131.45. The company’s stock had a trading volume of 5,116,602 shares, compared to its average volume of 2,961,442. The business has a 50 day moving average price of $125.25 and a two-hundred day moving average price of $117.01. The company has a market capitalization of $43.62 billion, a PE ratio of 1,095.42 and a beta of 1.15. The company has a debt-to-equity ratio of 0.37, a quick ratio of 3.17 and a current ratio of 3.17. Datadog, Inc. has a fifty-two week low of $63.00 and a fifty-two week high of $138.61.

Datadog (NASDAQ:DDOG) last posted its quarterly earnings results on Tuesday, February 13th. The company reported $0.44 EPS for the quarter, topping the consensus estimate of $0.43 by $0.01. The business had revenue of $589.65 million during the quarter, compared to the consensus estimate of $568.73 million. Datadog had a net margin of 2.28% and a return on equity of 3.79%. The company’s quarterly revenue was up 25.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.08) earnings per share. As a group, research analysts expect that Datadog, Inc. will post -0.14 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have weighed in on DDOG shares. Wells Fargo & Company raised shares of Datadog from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $130.00 to $150.00 in a research note on Tuesday. Wolfe Research raised their target price on shares of Datadog from $140.00 to $150.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 14th. BMO Capital Markets reissued an “outperform” rating and issued a $155.00 target price (up from $140.00) on shares of Datadog in a research note on Wednesday, February 14th. Royal Bank of Canada raised their target price on shares of Datadog from $145.00 to $151.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 14th. Finally, Citigroup raised their target price on shares of Datadog from $125.00 to $150.00 and gave the stock a “buy” rating in a research note on Monday, January 22nd. Five investment analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $131.70.

Insiders Place Their Bets

In other news, CEO Olivier Pomel sold 23,924 shares of Datadog stock in a transaction on Tuesday, April 23rd. The shares were sold at an average price of $130.05, for a total transaction of $3,111,316.20. Following the completion of the sale, the chief executive officer now directly owns 337,247 shares of the company’s stock, valued at approximately $43,858,972.35. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CTO Alexis Le-Quoc sold 127,105 shares of the business’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $135.10, for a total value of $17,171,885.50. Following the completion of the sale, the chief technology officer now directly owns 247,328 shares of the company’s stock, valued at $33,414,012.80. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Olivier Pomel sold 23,924 shares of the business’s stock in a transaction on Tuesday, April 23rd. The shares were sold at an average price of $130.05, for a total transaction of $3,111,316.20. Following the completion of the sale, the chief executive officer now directly owns 337,247 shares of the company’s stock, valued at $43,858,972.35. The disclosure for this sale can be found here. Insiders sold a total of 759,908 shares of company stock worth $97,728,997 over the last 90 days. Corporate insiders own 14.97% of the company’s stock.

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.