Datadog, Inc. (NASDAQ:DDOG) Shares Sold by Malaga Cove Capital LLC

Malaga Cove Capital LLC lowered its holdings in Datadog, Inc. (NASDAQ:DDOG) by 0.6% in the 4th quarter, Holdings Channel.com reports. The fund owned 18,087 shares of the company’s stock after selling 117 shares during the quarter. Datadog comprises approximately 1.0% of Malaga Cove Capital LLC’s portfolio, making the stock its 28th largest holding. Malaga Cove Capital LLC’s holdings in Datadog were worth $2,584,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the business. Nissay Asset Management Corp Japan ADV increased its position in shares of Datadog by 4.9% in the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 65,892 shares of the company’s stock worth $9,620,000 after acquiring an additional 3,048 shares in the last quarter. Newlands Management Operations LLC acquired a new stake in shares of Datadog in the fourth quarter worth $454,000. Occudo Quantitative Strategies LP boosted its stake in shares of Datadog by 698.1% in the fourth quarter. Occudo Quantitative Strategies LP now owns 19,003 shares of the company’s stock valued at $2,715,000 after purchasing an additional 16,622 shares during the period. McGowan Group Asset Management Inc. purchased a new position in shares of Datadog in the fourth quarter valued at $3,544,000. Finally, Morse Asset Management Inc purchased a new position in shares of Datadog in the fourth quarter valued at $1,386,000. Institutional investors and hedge funds own 78.29% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on DDOG. Stifel Nicolaus set a $120.00 target price on shares of Datadog in a research note on Tuesday, May 6th. Needham & Company LLC decreased their target price on shares of Datadog from $160.00 to $130.00 and set a “buy” rating for the company in a research note on Wednesday, May 7th. Jefferies Financial Group restated a “buy” rating on shares of Datadog in a research note on Tuesday, May 6th. Citigroup decreased their target price on shares of Datadog from $170.00 to $165.00 and set a “buy” rating for the company in a research note on Friday, February 14th. Finally, Wolfe Research downgraded shares of Datadog from an “outperform” rating to a “peer perform” rating in a research note on Tuesday, February 18th. Seven research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $141.54.

Datadog Stock Performance

Datadog stock opened at $117.31 on Wednesday. Datadog, Inc. has a 1 year low of $81.63 and a 1 year high of $170.08. The firm’s 50-day moving average is $100.29 and its 200-day moving average is $125.70. The company has a market cap of $40.21 billion, a P/E ratio of 230.02, a PEG ratio of 44.03 and a beta of 1.12.

Datadog (NASDAQ:DDOG) last released its earnings results on Tuesday, May 6th. The company reported $0.46 EPS for the quarter, beating the consensus estimate of $0.42 by $0.04. Datadog had a net margin of 6.85% and a return on equity of 8.28%. The firm had revenue of $761.55 million for the quarter, compared to analysts’ expectations of $741.73 million. During the same quarter last year, the company earned $0.44 EPS. Datadog’s quarterly revenue was up 24.6% on a year-over-year basis. As a group, sell-side analysts predict that Datadog, Inc. will post 0.34 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO Olivier Pomel sold 107,365 shares of the firm’s stock in a transaction that occurred on Monday, April 7th. The shares were sold at an average price of $87.33, for a total transaction of $9,376,185.45. Following the completion of the sale, the chief executive officer now directly owns 563,598 shares in the company, valued at approximately $49,219,013.34. This trade represents a 16.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Amit Agarwal sold 10,167 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $115.86, for a total transaction of $1,177,948.62. Following the transaction, the director now directly owns 82,324 shares in the company, valued at approximately $9,538,058.64. The trade was a 10.99% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 559,867 shares of company stock worth $57,550,902 over the last ninety days. 11.78% of the stock is currently owned by company insiders.

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.