Coatue Management LLC lowered its holdings in Datadog (NASDAQ:DDOG) by 56.8% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,410,895 shares of the company’s stock after selling 1,853,688 shares during the quarter. Datadog accounts for about 1.1% of Coatue Management LLC’s investment portfolio, making the stock its 27th largest position. Coatue Management LLC owned about 0.47% of Datadog worth $122,677,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in DDOG. Engrave Wealth Partners LLC grew its holdings in Datadog by 209.0% in the 2nd quarter. Engrave Wealth Partners LLC now owns 309 shares of the company’s stock valued at $26,000 after buying an additional 209 shares during the last quarter. Glassman Wealth Services grew its holdings in Datadog by 74.5% in the 2nd quarter. Glassman Wealth Services now owns 349 shares of the company’s stock valued at $30,000 after buying an additional 149 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in Datadog in the 1st quarter valued at approximately $32,000. Harbor Investment Advisory LLC acquired a new stake in Datadog in the 2nd quarter valued at approximately $33,000. Finally, US Bancorp DE acquired a new stake in Datadog in the 2nd quarter valued at approximately $38,000. 42.13% of the stock is currently owned by hedge funds and other institutional investors.
DDOG has been the topic of a number of research analyst reports. Jefferies Financial Group raised their target price on Datadog from $59.00 to $95.00 and gave the company a “hold” rating in a report on Friday, August 7th. Mizuho raised their price objective on Datadog from $46.00 to $66.00 and gave the stock a “buy” rating in a research report on Tuesday, May 12th. William Blair reiterated a “buy” rating on shares of Datadog in a research report on Thursday, June 18th. Royal Bank of Canada reiterated a “hold” rating on shares of Datadog in a research report on Thursday, August 13th. Finally, Stifel Nicolaus raised their price objective on Datadog from $50.00 to $60.00 and gave the stock a “buy” rating in a research report on Tuesday, May 12th. Eight analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Datadog presently has a consensus rating of “Buy” and a consensus target price of $86.14.
In other news, insider Amit Agarwal sold 24,499 shares of Datadog stock in a transaction on Tuesday, June 9th. The stock was sold at an average price of $75.00, for a total value of $1,837,425.00. Following the completion of the sale, the insider now directly owns 166,761 shares of the company’s stock, valued at approximately $12,507,075. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Ventures Vi (Jersey) Lp Index sold 50,483 shares of Datadog stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $83.13, for a total value of $4,196,651.79. The disclosure for this sale can be found here. Insiders have sold a total of 2,350,785 shares of company stock valued at $205,246,455 over the last ninety days. Insiders own 26.06% of the company’s stock.
DDOG stock traded down $0.53 during midday trading on Friday, reaching $79.57. 4,656,272 shares of the company’s stock traded hands, compared to its average volume of 5,133,590. The company has a 50-day simple moving average of $85.32 and a two-hundred day simple moving average of $64.46. Datadog has a 1-year low of $27.55 and a 1-year high of $98.99. The company has a market cap of $24.14 billion and a price-to-earnings ratio of -3,978.50. The company has a quick ratio of 6.74, a current ratio of 6.74 and a debt-to-equity ratio of 0.67.
Datadog (NASDAQ:DDOG) last released its quarterly earnings results on Thursday, August 6th. The company reported $0.05 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.01 by $0.04. Datadog had a return on equity of 0.75% and a net margin of 0.73%. The firm had revenue of $140.01 million during the quarter, compared to analysts’ expectations of $135.41 million. During the same period last year, the firm posted ($0.07) EPS. The business’s revenue was up 68.2% on a year-over-year basis. Equities research analysts forecast that Datadog will post 0.01 EPS for the current year.
Datadog, Inc provides monitoring and analytics platform for developers, information technology operations teams, and business users in the cloud in North America and internationally. Its SaaS platform integrates and automates infrastructure monitoring, application performance monitoring, and log management to provide real-time observability of customers technology stack.
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