Profund Advisors LLC Sells 1,336 Shares of Datadog, Inc. (NASDAQ:DDOG)

Profund Advisors LLC lessened its stake in shares of Datadog, Inc. (NASDAQ:DDOG) by 3.4% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 38,142 shares of the company’s stock after selling 1,336 shares during the period. Profund Advisors LLC’s holdings in Datadog were worth $4,947,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in DDOG. Riverview Trust Co bought a new position in Datadog during the 1st quarter valued at approximately $26,000. SouthState Corp purchased a new stake in Datadog during the 2nd quarter valued at $26,000. Raleigh Capital Management Inc. purchased a new stake in Datadog during the 4th quarter valued at $29,000. Jones Financial Companies Lllp purchased a new stake in Datadog during the 4th quarter valued at $33,000. Finally, Quest Partners LLC purchased a new stake in Datadog during the 4th quarter valued at $36,000. Institutional investors own 78.29% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on DDOG shares. Needham & Company LLC cut their target price on Datadog from $165.00 to $140.00 and set a “buy” rating on the stock in a research note on Friday, August 9th. Loop Capital reiterated a “buy” rating and set a $160.00 target price on shares of Datadog in a research note on Friday, July 5th. Cantor Fitzgerald reiterated an “overweight” rating and set a $150.00 target price on shares of Datadog in a research note on Monday, July 22nd. Evercore ISI initiated coverage on Datadog in a research note on Monday, July 15th. They issued an “outperform” rating and a $150.00 price target on the stock. Finally, Mizuho upgraded Datadog from a “neutral” rating to an “outperform” rating and raised their price target for the stock from $135.00 to $155.00 in a research note on Tuesday, July 16th. Four investment analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $139.88.

Insider Transactions at Datadog

In other news, General Counsel Kerry Acocella sold 5,955 shares of Datadog stock in a transaction dated Monday, June 24th. The stock was sold at an average price of $120.09, for a total value of $715,135.95. Following the sale, the general counsel now directly owns 85,787 shares of the company’s stock, valued at $10,302,160.83. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CTO Alexis Le-Quoc sold 127,105 shares of Datadog stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $130.75, for a total value of $16,618,978.75. Following the sale, the chief technology officer now directly owns 279,025 shares of the company’s stock, valued at $36,482,518.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Kerry Acocella sold 5,955 shares of Datadog stock in a transaction dated Monday, June 24th. The stock was sold at an average price of $120.09, for a total value of $715,135.95. Following the completion of the sale, the general counsel now directly owns 85,787 shares in the company, valued at $10,302,160.83. The disclosure for this sale can be found here. Over the last three months, insiders have sold 561,997 shares of company stock valued at $68,517,631. 11.78% of the stock is currently owned by insiders.

Datadog Stock Down 0.7 %

NASDAQ:DDOG opened at $114.76 on Friday. The business’s 50-day simple moving average is $114.64 and its two-hundred day simple moving average is $119.60. The stock has a market cap of $38.39 billion, a PE ratio of 358.63, a P/E/G ratio of 27.84 and a beta of 1.11. Datadog, Inc. has a 52 week low of $77.81 and a 52 week high of $138.61.

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

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.