Allspring Global Investments Holdings LLC Trims Position in Datadog, Inc. (NASDAQ:DDOG)

Allspring Global Investments Holdings LLC decreased its position in shares of Datadog, Inc. (NASDAQ:DDOG) by 1.3% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 1,054,025 shares of the company’s stock after selling 14,045 shares during the period. Allspring Global Investments Holdings LLC owned 0.32% of Datadog worth $121,276,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of DDOG. Kodai Capital Management LP purchased a new position in shares of Datadog during the first quarter valued at approximately $116,054,000. DNB Asset Management AS lifted its stake in shares of Datadog by 1,974.5% during the second quarter. DNB Asset Management AS now owns 847,600 shares of the company’s stock valued at $109,925,000 after buying an additional 806,741 shares during the period. Thrivent Financial for Lutherans lifted its stake in shares of Datadog by 1,597.9% during the second quarter. Thrivent Financial for Lutherans now owns 785,261 shares of the company’s stock valued at $101,841,000 after buying an additional 739,011 shares during the period. Bank of Montreal Can lifted its stake in shares of Datadog by 129.2% during the second quarter. Bank of Montreal Can now owns 610,977 shares of the company’s stock valued at $79,384,000 after buying an additional 344,431 shares during the period. Finally, Massachusetts Financial Services Co. MA lifted its stake in shares of Datadog by 9.2% during the second quarter. Massachusetts Financial Services Co. MA now owns 3,944,943 shares of the company’s stock valued at $511,620,000 after buying an additional 331,808 shares during the period. Hedge funds and other institutional investors own 78.29% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on DDOG. BTIG Research raised shares of Datadog from a “neutral” rating to a “buy” rating and set a $143.00 price objective on the stock in a research note on Thursday, August 1st. Scotiabank cut their price target on shares of Datadog from $145.00 to $135.00 and set a “sector outperform” rating on the stock in a research note on Friday, August 9th. DA Davidson raised shares of Datadog from a “neutral” rating to a “buy” rating and increased their price target for the stock from $115.00 to $140.00 in a research note on Tuesday, October 1st. UBS Group reaffirmed an “underperform” rating on shares of Datadog in a research note on Friday. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $151.00 price target on shares of Datadog in a research note on Friday, August 9th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-five have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $142.11.

Datadog Price Performance

Shares of DDOG stock opened at $128.12 on Monday. The firm has a market cap of $42.86 billion, a P/E ratio of 400.38, a P/E/G ratio of 22.85 and a beta of 1.11. Datadog, Inc. has a 1-year low of $77.81 and a 1-year high of $138.61. The firm has a fifty day moving average of $116.58 and a two-hundred day moving average of $119.41.

Datadog (NASDAQ:DDOG) last posted its quarterly earnings results on Thursday, August 8th. The company reported $0.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.37 by $0.06. Datadog had a net margin of 6.81% and a return on equity of 9.01%. The company had revenue of $645.28 million for the quarter, compared to the consensus estimate of $624.92 million. During the same period last year, the firm posted $0.36 EPS. The company’s revenue for the quarter was up 26.7% on a year-over-year basis. On average, sell-side analysts expect that Datadog, Inc. will post 0.42 EPS for the current year.

Insider Transactions at Datadog

In other news, Director Shardul Shah sold 7,916 shares of the firm’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $126.67, for a total value of $1,002,719.72. Following the transaction, the director now directly owns 451,533 shares in the company, valued at approximately $57,195,685.11. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Datadog news, CRO Sean Michael Walters sold 2,322 shares of the business’s stock in a transaction dated Tuesday, October 8th. The shares were sold at an average price of $125.00, for a total transaction of $290,250.00. Following the sale, the executive now directly owns 183,512 shares in the company, valued at approximately $22,939,000. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Shardul Shah sold 7,916 shares of the business’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $126.67, for a total transaction of $1,002,719.72. Following the sale, the director now owns 451,533 shares in the company, valued at $57,195,685.11. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 529,928 shares of company stock worth $63,079,091. 11.78% of the stock is currently owned by 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.