Forsta AP Fonden Trims Stake in Datadog, Inc. (NASDAQ:DDOG)

Forsta AP Fonden lessened its holdings in Datadog, Inc. (NASDAQ:DDOG) by 8.1% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 58,900 shares of the company’s stock after selling 5,200 shares during the period. Forsta AP Fonden’s holdings in Datadog were worth $7,639,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Riverview Trust Co purchased a new stake in shares of Datadog in the 1st quarter valued at about $26,000. SouthState Corp purchased a new stake in Datadog in the second quarter valued at approximately $26,000. Raleigh Capital Management Inc. purchased a new stake in Datadog in the fourth quarter valued at approximately $29,000. Jones Financial Companies Lllp bought a new stake in Datadog during the fourth quarter valued at approximately $33,000. Finally, Quest Partners LLC purchased a new position in Datadog in the 4th quarter worth approximately $36,000. Institutional investors own 78.29% of the company’s stock.

Datadog Trading Down 0.3 %

NASDAQ:DDOG opened at $109.26 on Friday. The company has a 50-day moving average price of $116.11 and a 200-day moving average price of $120.23. Datadog, Inc. has a 12 month low of $77.81 and a 12 month high of $138.61. The stock has a market cap of $36.55 billion, a price-to-earnings ratio of 341.44, a P/E/G ratio of 27.84 and a beta of 1.11.

Datadog (NASDAQ:DDOG) last issued its quarterly earnings data on Thursday, August 8th. The company reported $0.43 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 during the quarter, compared to analyst estimates of $624.92 million. During the same period last year, the business posted $0.36 earnings per share. Datadog’s quarterly revenue was up 26.7% compared to the same quarter last year. Equities analysts forecast that Datadog, Inc. will post 0.41 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Scotiabank dropped their price objective on shares of Datadog from $145.00 to $135.00 and set a “sector outperform” rating for the company in a report on Friday, August 9th. Royal Bank of Canada reiterated an “outperform” rating and issued a $151.00 price objective on shares of Datadog in a report on Friday, August 9th. BTIG Research raised Datadog from a “neutral” rating to a “buy” rating and set a $143.00 price objective on the stock in a report on Thursday, August 1st. Bank of America raised Datadog from a “neutral” rating to a “buy” rating and upped their target price for the stock from $143.00 to $155.00 in a research note on Thursday, May 30th. Finally, Mizuho raised shares of Datadog from a “neutral” rating to an “outperform” rating and lifted 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 given a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $139.88.

Insider Activity at Datadog

In other Datadog news, CRO Sean Michael Walters sold 2,351 shares of the stock in a transaction on Thursday, June 27th. The stock was sold at an average price of $125.00, for a total value of $293,875.00. Following the completion of the transaction, the executive now owns 197,421 shares in the company, valued at $24,677,625. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CRO Sean Michael Walters sold 2,351 shares of the business’s stock in a transaction dated Thursday, June 27th. The shares were sold at an average price of $125.00, for a total transaction of $293,875.00. Following the sale, the executive now owns 197,421 shares of the company’s stock, valued at $24,677,625. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Madre Armelle De sold 1,749 shares of Datadog stock in a transaction that occurred on Thursday, June 27th. The shares were sold at an average price of $125.00, for a total transaction of $218,625.00. Following the transaction, the insider now owns 92,025 shares of the company’s stock, valued at $11,503,125. The disclosure for this sale can be found here. Insiders have sold 561,997 shares of company stock worth $68,517,631 over the last ninety days. 11.78% of the stock is owned by corporate insiders.

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.