Cercano Management LLC Lowers Stock Position in Datadog, Inc. (NASDAQ:DDOG)

Cercano Management LLC cut its stake in shares of Datadog, Inc. (NASDAQ:DDOG) by 95.9% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 12,557 shares of the company’s stock after selling 297,003 shares during the period. Cercano Management LLC’s holdings in Datadog were worth $1,524,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. CWM LLC boosted its position in Datadog by 12.2% during the 3rd quarter. CWM LLC now owns 5,289 shares of the company’s stock worth $482,000 after purchasing an additional 574 shares during the period. Global Retirement Partners LLC boosted its position in Datadog by 54.5% during the 3rd quarter. Global Retirement Partners LLC now owns 649 shares of the company’s stock worth $57,000 after purchasing an additional 229 shares during the period. Flagship Harbor Advisors LLC boosted its position in Datadog by 6.9% during the 3rd quarter. Flagship Harbor Advisors LLC now owns 2,339 shares of the company’s stock worth $213,000 after purchasing an additional 150 shares during the period. Exchange Traded Concepts LLC boosted its position in Datadog by 83.6% during the 3rd quarter. Exchange Traded Concepts LLC now owns 10,984 shares of the company’s stock worth $1,001,000 after purchasing an additional 5,002 shares during the period. Finally, Asset Management One Co. Ltd. boosted its position in Datadog by 1.2% during the 3rd quarter. Asset Management One Co. Ltd. now owns 98,883 shares of the company’s stock worth $9,007,000 after purchasing an additional 1,147 shares during the period. 78.29% of the stock is owned by hedge funds and other institutional investors.

Datadog Stock Performance

Shares of NASDAQ:DDOG traded up $6.20 during trading on Friday, reaching $131.45. 5,116,602 shares of the company’s stock traded hands, compared to its average volume of 2,961,442. The company has a debt-to-equity ratio of 0.37, a current ratio of 3.17 and a quick ratio of 3.17. Datadog, Inc. has a 12 month low of $63.00 and a 12 month high of $138.61. The company has a 50 day moving average of $125.25 and a 200-day moving average of $117.19. The stock has a market capitalization of $43.62 billion, a P/E ratio of 1,095.42 and a beta of 1.15.

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

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Truist Financial upped their price target on shares of Datadog from $140.00 to $155.00 and gave the stock a “buy” rating in a research report on Wednesday, February 14th. Wells Fargo & Company upgraded shares of Datadog from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $130.00 to $150.00 in a report on Tuesday, April 23rd. Barclays boosted their price objective on shares of Datadog from $138.00 to $152.00 and gave the stock an “overweight” rating in a report on Wednesday, February 14th. William Blair reiterated an “outperform” rating on shares of Datadog in a report on Friday, February 16th. Finally, Wolfe Research boosted their price objective on shares of Datadog from $140.00 to $150.00 and gave the stock an “outperform” rating in a report on Wednesday, February 14th. Five investment analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the stock. Based on data from MarketBeat, Datadog has a consensus rating of “Moderate Buy” and a consensus target price of $131.70.

Insider Activity at Datadog

In other Datadog news, insider Madre Armelle De sold 600 shares of the company’s stock in a transaction dated Monday, April 8th. The shares were sold at an average price of $125.34, for a total value of $75,204.00. Following the completion of the transaction, the insider now owns 100,353 shares in the company, valued at approximately $12,578,245.02. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Datadog news, CEO Olivier Pomel sold 133,315 shares of the company’s stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $129.82, for a total value of $17,306,953.30. Following the completion of the transaction, the chief executive officer now owns 299,075 shares in the company, valued at approximately $38,825,916.50. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Madre Armelle De sold 600 shares of the company’s stock in a transaction dated Monday, April 8th. The stock was sold at an average price of $125.34, for a total transaction of $75,204.00. Following the completion of the transaction, the insider now owns 100,353 shares of the company’s stock, valued at approximately $12,578,245.02. The disclosure for this sale can be found here. Insiders sold a total of 759,908 shares of company stock valued at $97,728,997 in the last quarter. Insiders own 14.97% of the company’s stock.

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.