Hsbc Holdings PLC Reduces Stock Position in Datadog, Inc. (NASDAQ:DDOG)

Hsbc Holdings PLC decreased its position in Datadog, Inc. (NASDAQ:DDOG) by 43.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 272,399 shares of the company’s stock after selling 207,960 shares during the quarter. Hsbc Holdings PLC’s holdings in Datadog were worth $35,243,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of DDOG. Dimensional Fund Advisors LP grew its position in shares of Datadog by 12.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 254,076 shares of the company’s stock worth $30,842,000 after buying an additional 28,394 shares during the last quarter. Janney Montgomery Scott LLC increased its position in Datadog by 373.4% during the 4th quarter. Janney Montgomery Scott LLC now owns 11,172 shares of the company’s stock valued at $1,356,000 after purchasing an additional 8,812 shares during the period. Beacon Pointe Advisors LLC raised its holdings in Datadog by 29.6% in the 4th quarter. Beacon Pointe Advisors LLC now owns 4,877 shares of the company’s stock worth $592,000 after purchasing an additional 1,113 shares in the last quarter. Coldstream Capital Management Inc. bought a new stake in shares of Datadog during the 4th quarter valued at about $334,000. Finally, Clearbridge Investments LLC increased its position in shares of Datadog by 15.0% during the fourth quarter. Clearbridge Investments LLC now owns 246,203 shares of the company’s stock valued at $29,884,000 after buying an additional 32,134 shares during the period. 78.29% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

DDOG has been the subject of several research analyst reports. UBS Group raised their price objective on shares of Datadog from $120.00 to $125.00 and gave the stock a “neutral” rating in a report on Friday, August 9th. Barclays lowered their target price on shares of Datadog from $145.00 to $140.00 and set an “overweight” rating for the company in a report on Friday, August 9th. Scotiabank decreased their target price 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. Loop Capital reaffirmed a “buy” rating and set a $160.00 price target on shares of Datadog in a report on Friday, July 5th. Finally, Evercore ISI assumed coverage on shares of Datadog in a report on Monday, July 15th. They set an “outperform” rating and a $150.00 price objective for the company. Four investment analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $139.88.

Datadog Price Performance

Shares of DDOG stock opened at $114.76 on Friday. Datadog, Inc. has a one year low of $77.81 and a one year high of $138.61. The company’s fifty day moving average price is $114.64 and its 200-day moving average price is $119.62. The company has a market capitalization of $38.39 billion, a price-to-earnings ratio of 358.63, a PEG ratio of 27.84 and a beta of 1.11.

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

Insiders Place Their Bets

In other news, Director Matthew Jacobson sold 9,256 shares of the business’s stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $108.05, for a total value of $1,000,110.80. Following the transaction, the director now owns 48,411 shares of the company’s stock, valued at $5,230,808.55. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Datadog news, CEO Olivier Pomel sold 200,993 shares of Datadog stock in a transaction that occurred on Monday, July 8th. The stock was sold at an average price of $131.01, for a total value of $26,332,092.93. Following the sale, the chief executive officer now owns 324,539 shares of the company’s stock, valued at approximately $42,517,854.39. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Matthew Jacobson sold 9,256 shares of the stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $108.05, for a total value of $1,000,110.80. Following the transaction, the director now owns 48,411 shares of the company’s stock, valued at $5,230,808.55. The disclosure for this sale can be found here. Insiders sold 561,997 shares of company stock worth $68,517,631 in the last three months. 11.78% of the stock is owned by company insiders.

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.