New Century Financial Group LLC Decreases Position in Datadog, Inc. (NASDAQ:DDOG)

New Century Financial Group LLC lessened its holdings in Datadog, Inc. (NASDAQ:DDOG) by 10.1% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,120 shares of the company’s stock after selling 238 shares during the period. New Century Financial Group LLC’s holdings in Datadog were worth $244,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in shares of Datadog by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 27,431,107 shares of the company’s stock worth $3,390,485,000 after purchasing an additional 171,693 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its position in shares of Datadog by 9.2% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 3,944,943 shares of the company’s stock worth $511,620,000 after purchasing an additional 331,808 shares during the last quarter. 1832 Asset Management L.P. lifted its position in shares of Datadog by 5.9% during the 2nd quarter. 1832 Asset Management L.P. now owns 2,486,600 shares of the company’s stock worth $322,487,000 after purchasing an additional 138,700 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its position in shares of Datadog by 19.3% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 1,068,070 shares of the company’s stock worth $138,518,000 after purchasing an additional 172,887 shares during the last quarter. Finally, Kodai Capital Management LP purchased a new stake in shares of Datadog during the 1st quarter worth $116,054,000. Hedge funds and other institutional investors own 78.29% of the company’s stock.

Insider Buying and Selling

In related news, CTO Alexis Le-Quoc sold 127,105 shares of the business’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $111.66, for a total transaction of $14,192,544.30. Following the sale, the chief technology officer now owns 347,684 shares of the company’s stock, valued at approximately $38,822,395.44. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Datadog news, CTO Alexis Le-Quoc sold 127,105 shares of the company’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $111.66, for a total value of $14,192,544.30. Following the sale, the chief technology officer now owns 347,684 shares of the company’s stock, valued at $38,822,395.44. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO David M. Obstler sold 33,333 shares of the company’s stock in a transaction dated Friday, October 11th. The shares were sold at an average price of $130.39, for a total transaction of $4,346,289.87. Following the completion of the sale, the chief financial officer now directly owns 314,158 shares in the company, valued at $40,963,061.62. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 529,928 shares of company stock valued at $63,079,091. Corporate insiders own 11.78% of the company’s stock.

Analyst Ratings Changes

DDOG has been the subject of several recent analyst reports. BNP Paribas initiated coverage on shares of Datadog in a research report on Tuesday, October 8th. They set an “outperform” rating and a $150.00 price objective for the company. BMO Capital Markets cut their price target on shares of Datadog from $140.00 to $132.00 and set an “outperform” rating on the stock in a research note on Friday, August 9th. Monness Crespi & Hardt upgraded shares of Datadog from a “sell” rating to a “neutral” rating in a research note on Wednesday, August 7th. Cantor Fitzgerald reiterated an “overweight” rating and set a $150.00 price target on shares of Datadog in a research note on Monday, July 22nd. Finally, Sanford C. Bernstein cut their price target on shares of Datadog from $157.00 to $151.00 and set an “outperform” rating on the stock in a research note on Monday. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-six have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Datadog has a consensus rating of “Moderate Buy” and an average price target of $142.43.

Datadog Stock Down 1.8 %

Shares of Datadog stock opened at $125.81 on Tuesday. Datadog, Inc. has a 52-week low of $77.81 and a 52-week high of $138.61. The company’s 50-day simple moving average is $116.86 and its 200-day simple moving average is $119.44. The firm has a market cap of $42.08 billion, a price-to-earnings ratio of 393.16, a price-to-earnings-growth ratio of 22.85 and a beta of 1.11.

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

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.