Datadog, Inc. (NASDAQ:DDOG) Shares Sold by Lombard Odier Asset Management Europe Ltd

Lombard Odier Asset Management Europe Ltd lessened its stake in Datadog, Inc. (NASDAQ:DDOG) by 99.9% in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 6,130 shares of the company’s stock after selling 9,686,853 shares during the quarter. Lombard Odier Asset Management Europe Ltd’s holdings in Datadog were worth $795,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Riverview Trust Co acquired a new stake in shares of Datadog in the first quarter worth approximately $26,000. SouthState Corp purchased a new stake in shares of Datadog in the second quarter valued at approximately $26,000. Raleigh Capital Management Inc. acquired a new stake in Datadog during the fourth quarter worth about $29,000. Jones Financial Companies Lllp acquired a new stake in Datadog during the fourth quarter worth $33,000. Finally, Quest Partners LLC acquired a new stake in shares of Datadog during the fourth quarter valued at about $36,000. 78.29% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Monness Crespi & Hardt upgraded Datadog from a “sell” rating to a “neutral” rating in a report on Wednesday, August 7th. Needham & Company LLC dropped their price target on shares of Datadog from $165.00 to $140.00 and set a “buy” rating for the company in a research note on Friday, August 9th. BMO Capital Markets reduced their price target on Datadog from $140.00 to $132.00 and set an “outperform” rating on the stock in a research report on Friday, August 9th. Loop Capital reaffirmed a “buy” rating and issued a $160.00 target price on shares of Datadog in a report on Friday, July 5th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $150.00 target price on shares of Datadog in a research note on Monday, July 22nd. Four research analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $139.88.

Insider Buying and Selling

In other Datadog news, CEO Olivier Pomel sold 200,993 shares of the company’s stock in a transaction dated 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 $42,517,854.39. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, CEO Olivier Pomel sold 200,993 shares of the stock in a transaction dated Monday, July 8th. The shares were 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 directly owns 324,539 shares of the company’s stock, valued at approximately $42,517,854.39. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Madre Armelle De sold 1,749 shares of Datadog stock in a transaction dated Thursday, June 27th. The stock was sold at an average price of $125.00, for a total transaction of $218,625.00. Following the transaction, the insider now owns 92,025 shares of the company’s stock, valued at approximately $11,503,125. The disclosure for this sale can be found here. Insiders have sold 556,042 shares of company stock valued at $67,802,495 over the last quarter. Company insiders own 11.78% of the company’s stock.

Datadog Stock Up 1.3 %

Shares of NASDAQ:DDOG opened at $116.22 on Tuesday. Datadog, Inc. has a fifty-two week low of $77.81 and a fifty-two week high of $138.61. The firm’s 50-day simple moving average is $114.38 and its 200-day simple moving average is $119.52. The company has a market cap of $38.88 billion, a price-to-earnings ratio of 363.19, 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 earnings per share for the quarter, beating analysts’ consensus estimates of $0.37 by $0.06. The company had revenue of $645.28 million for the quarter, compared to analyst estimates of $624.92 million. Datadog had a return on equity of 9.01% and a net margin of 6.81%. The firm’s revenue for the quarter was up 26.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.36 EPS. On average, research analysts forecast that Datadog, Inc. will post 0.41 EPS for the current year.

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.