Datadog, Inc. (NASDAQ:DDOG) Stake Cut by Susquehanna Portfolio Strategies LLC

Susquehanna Portfolio Strategies LLC reduced its holdings in Datadog, Inc. (NASDAQ:DDOG) by 73.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 48,500 shares of the company’s stock after selling 134,597 shares during the period. Susquehanna Portfolio Strategies LLC’s holdings in Datadog were worth $6,290,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. SouthState Corp acquired a new position in Datadog in the 2nd quarter worth about $26,000. Riverview Trust Co acquired a new position in shares of Datadog during the 1st quarter valued at about $26,000. Raleigh Capital Management Inc. acquired a new position in shares of Datadog during the 4th quarter valued at about $29,000. Jones Financial Companies Lllp bought a new stake in Datadog during the 4th quarter valued at approximately $33,000. Finally, Quest Partners LLC bought a new stake in Datadog during the 4th quarter valued at approximately $36,000. 78.29% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

DDOG has been the subject of several recent analyst reports. Scotiabank decreased their target price on Datadog from $145.00 to $135.00 and set a “sector outperform” rating for the company in a research note on Friday, August 9th. Monness Crespi & Hardt upgraded Datadog from a “sell” rating to a “neutral” rating in a research report on Wednesday, August 7th. Royal Bank of Canada restated an “outperform” rating and set a $151.00 target price on shares of Datadog in a research report on Friday, August 9th. Mizuho upgraded Datadog from a “neutral” rating to an “outperform” rating and raised their target price for the stock from $135.00 to $155.00 in a research report on Tuesday, July 16th. Finally, BTIG Research upgraded Datadog from a “neutral” rating to a “buy” rating and set a $143.00 target price for the company in a research report on Thursday, August 1st. Four investment analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $139.88.

Datadog Trading Down 0.0 %

NASDAQ DDOG opened at $114.20 on Friday. The company has a market cap of $38.20 billion, a PE ratio of 356.88, a PEG ratio of 28.94 and a beta of 1.11. Datadog, Inc. has a 12 month low of $77.81 and a 12 month high of $138.61. The stock has a 50 day moving average of $113.81 and a 200-day moving average of $119.38.

Datadog (NASDAQ:DDOG) last posted its quarterly earnings results on Thursday, August 8th. The company reported $0.43 earnings per share for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $624.92 million. During the same quarter in the prior year, the business earned $0.36 EPS. The firm’s revenue for the quarter was up 26.7% on a year-over-year basis. As a group, sell-side analysts predict that Datadog, Inc. will post 0.42 EPS for the current fiscal year.

Insider Activity at Datadog

In other Datadog news, CEO Olivier Pomel sold 200,993 shares of the stock in a transaction on Monday, July 8th. The stock was sold at an average price of $131.01, for a total transaction of $26,332,092.93. Following the transaction, the chief executive officer now owns 324,539 shares in the company, valued at approximately $42,517,854.39. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Datadog news, CEO Olivier Pomel sold 200,993 shares of the stock in a transaction on Monday, July 8th. The stock was sold at an average price of $131.01, for a total transaction of $26,332,092.93. Following the transaction, the chief executive officer now owns 324,539 shares in the company, valued at approximately $42,517,854.39. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Matthew Jacobson sold 9,256 shares of the stock in a transaction on Wednesday, September 11th. The stock was 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 in the company, valued at approximately $5,230,808.55. The disclosure for this sale can be found here. In the last quarter, insiders have sold 550,096 shares of company stock worth $67,067,959. Company insiders own 11.78% of the company’s stock.

Datadog Company 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.