Price T Rowe Associates Inc. MD Sells 441,025 Shares of Datadog, Inc. (NASDAQ:DDOG)

Price T Rowe Associates Inc. MD cut its holdings in shares of Datadog, Inc. (NASDAQ:DDOG) by 5.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 8,177,958 shares of the company’s stock after selling 441,025 shares during the period. Price T Rowe Associates Inc. MD’s holdings in Datadog were worth $1,010,797,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Riverview Trust Co acquired a new stake in shares of Datadog during the first quarter worth about $26,000. Raleigh Capital Management Inc. acquired a new stake in Datadog during the 4th quarter worth approximately $29,000. Private Trust Co. NA lifted its stake in Datadog by 743.3% in the fourth quarter. Private Trust Co. NA now owns 253 shares of the company’s stock valued at $31,000 after buying an additional 223 shares in the last quarter. Jones Financial Companies Lllp bought a new position in Datadog in the fourth quarter valued at approximately $33,000. Finally, Quest Partners LLC acquired a new position in shares of Datadog in the fourth quarter valued at approximately $36,000. 78.29% of the stock is currently owned by institutional investors.

Datadog Stock Performance

NASDAQ:DDOG traded down $2.00 during midday trading on Friday, hitting $118.31. The company’s stock had a trading volume of 3,817,624 shares, compared to its average volume of 3,402,902. The firm’s 50 day moving average is $121.23 and its 200-day moving average is $123.97. The firm has a market cap of $39.57 billion, a P/E ratio of 369.72, a P/E/G ratio of 38.95 and a beta of 1.11. Datadog, Inc. has a fifty-two week low of $77.81 and a fifty-two week high of $138.61. The company has a debt-to-equity ratio of 0.34, a current ratio of 3.43 and a quick ratio of 3.43.

Datadog (NASDAQ:DDOG) last issued its earnings results on Tuesday, May 7th. The company reported $0.16 earnings per share for the quarter, topping the consensus estimate of ($0.04) by $0.20. Datadog had a return on equity of 7.48% and a net margin of 5.11%. The business had revenue of $611.25 million for the quarter, compared to analysts’ expectations of $589.97 million. Equities analysts anticipate that Datadog, Inc. will post 0.32 earnings per share for the current fiscal year.

Insider Buying and Selling at Datadog

In other Datadog news, Director Titilope Cole sold 2,210 shares of the firm’s stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $112.34, for a total transaction of $248,271.40. Following the transaction, the director now owns 6,451 shares of the company’s stock, valued at $724,705.34. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Datadog news, Director Titilope Cole sold 2,210 shares of the business’s stock in a transaction on Monday, June 10th. The stock was sold at an average price of $112.34, for a total transaction of $248,271.40. Following the sale, the director now directly owns 6,451 shares in the company, valued at $724,705.34. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Olivier Pomel sold 200,993 shares of the company’s stock in a transaction that occurred on Monday, July 8th. The shares were 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 directly owns 324,539 shares in the company, valued at approximately $42,517,854.39. The disclosure for this sale can be found here. Insiders have sold 857,606 shares of company stock valued at $103,799,779 in the last quarter. Corporate insiders own 11.78% of the company’s stock.

Analyst Upgrades and Downgrades

DDOG has been the topic of a number of research analyst reports. Monness Crespi & Hardt restated a “sell” rating and set a $98.00 price objective (down from $290.00) on shares of Datadog in a report on Friday, June 14th. Bank of America raised Datadog from a “neutral” rating to a “buy” rating and lifted their price target for the company from $143.00 to $155.00 in a research note on Thursday, May 30th. Wells Fargo & Company upgraded Datadog from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $130.00 to $150.00 in a report on Tuesday, April 23rd. JMP Securities upgraded Datadog to a “hold” rating in a report on Wednesday, May 8th. Finally, Robert W. Baird upgraded Datadog from a “neutral” rating to an “outperform” rating and boosted their target price for the company from $130.00 to $140.00 in a research note on Wednesday, May 8th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, twenty-eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Datadog currently has a consensus rating of “Moderate Buy” and an average price target of $138.21.

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.