Insight Holdings Group LLC Reduces Stock Position in Datadog, Inc. (NASDAQ:DDOG)

Insight Holdings Group LLC lessened its position in shares of Datadog, Inc. (NASDAQ:DDOG) by 40.5% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 138,600 shares of the company’s stock after selling 94,500 shares during the quarter. Datadog accounts for 0.4% of Insight Holdings Group LLC’s portfolio, making the stock its 19th largest position. Insight Holdings Group LLC’s holdings in Datadog were worth $16,823,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in DDOG. Anchor Investment Management LLC purchased a new stake in Datadog during the 4th quarter valued at about $25,000. Private Trust Co. NA grew its stake in Datadog by 743.3% during the 4th quarter. Private Trust Co. NA now owns 253 shares of the company’s stock valued at $31,000 after purchasing an additional 223 shares during the last quarter. AM Squared Ltd purchased a new stake in Datadog during the 3rd quarter valued at about $36,000. Quest Partners LLC acquired a new position in shares of Datadog in the 4th quarter valued at about $36,000. Finally, GAMMA Investing LLC acquired a new position in shares of Datadog in the 4th quarter valued at about $45,000. Hedge funds and other institutional investors own 78.29% of the company’s stock.

Datadog Price Performance

Shares of DDOG stock traded up $1.48 during trading hours on Friday, reaching $123.60. The company had a trading volume of 2,183,231 shares, compared to its average volume of 4,632,903. 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 stock has a fifty day moving average of $123.21 and a 200-day moving average of $122.21. The company has a market capitalization of $41.34 billion, a price-to-earnings ratio of 386.25, a PEG ratio of 48.16 and a beta of 1.14. Datadog, Inc. has a 12-month low of $77.81 and a 12-month high of $138.61.

Datadog (NASDAQ:DDOG) last posted its quarterly earnings results on Tuesday, May 7th. The company reported $0.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.20. The business had revenue of $611.25 million during the quarter, compared to analyst estimates of $589.97 million. Datadog had a return on equity of 7.48% and a net margin of 5.11%. On average, equities analysts anticipate that Datadog, Inc. will post 0.27 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Olivier Pomel sold 19,226 shares of the stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $130.06, for a total value of $2,500,533.56. Following the completion of the transaction, the chief executive officer now directly owns 299,075 shares in the company, valued at $38,897,694.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CEO Olivier Pomel sold 19,226 shares of the stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $130.06, for a total value of $2,500,533.56. Following the completion of the transaction, the chief executive officer now directly owns 299,075 shares in the company, valued at $38,897,694.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO David M. Obstler sold 31,007 shares of the stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $128.58, for a total value of $3,986,880.06. Following the completion of the transaction, the chief financial officer now owns 275,191 shares of the company’s stock, valued at $35,384,058.78. The disclosure for this sale can be found here. Over the last three months, insiders sold 712,402 shares of company stock worth $89,071,727. Company insiders own 11.78% of the company’s stock.

Analysts Set New Price Targets

DDOG has been the subject of several analyst reports. Robert W. Baird raised Datadog from a “neutral” rating to an “outperform” rating and boosted their price objective for the company from $130.00 to $140.00 in a report on Wednesday, May 8th. Stifel Nicolaus reissued a “buy” rating and issued a $152.00 price objective on shares of Datadog in a report on Monday, April 22nd. Cantor Fitzgerald reissued an “overweight” rating and issued a $150.00 price objective on shares of Datadog in a report on Wednesday, April 17th. BMO Capital Markets decreased their price objective on Datadog from $155.00 to $140.00 and set an “outperform” rating for the company in a report on Wednesday, May 8th. Finally, Mizuho boosted their price objective on Datadog from $108.00 to $130.00 and gave the company a “neutral” rating in a report on Wednesday, February 14th. Five investment analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $135.58.

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.