ARK Investment Management LLC Sells 9,497 Shares of Datadog, Inc. (NASDAQ:DDOG)

ARK Investment Management LLC decreased its holdings in shares of Datadog, Inc. (NASDAQ:DDOG) by 10.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 78,240 shares of the company’s stock after selling 9,497 shares during the quarter. ARK Investment Management LLC’s holdings in Datadog were worth $9,002,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of DDOG. Vanguard Group Inc. raised its holdings in Datadog by 0.6% during the first quarter. Vanguard Group Inc. now owns 27,431,107 shares of the company’s stock valued at $3,390,485,000 after buying an additional 171,693 shares in the last quarter. Massachusetts Financial Services Co. MA increased its holdings 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 valued at $511,620,000 after acquiring an additional 331,808 shares during the last quarter. 1832 Asset Management L.P. raised its stake in shares of Datadog by 5.9% in the 2nd quarter. 1832 Asset Management L.P. now owns 2,486,600 shares of the company’s stock valued at $322,487,000 after acquiring an additional 138,700 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in Datadog by 19.3% in 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 bought a new stake in Datadog during the first quarter worth approximately $116,054,000. Institutional investors own 78.29% of the company’s stock.

Insider Buying and Selling

In other Datadog 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 value of $14,192,544.30. Following the transaction, the chief technology officer now directly owns 347,684 shares in the company, valued at $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 hyperlink. In other news, CTO Alexis Le-Quoc sold 127,105 shares of Datadog stock in a transaction that occurred on 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 completion of the transaction, the chief technology officer now owns 347,684 shares in the company, 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 legal filing with the SEC, which is accessible through this link. Also, Director Shardul Shah sold 15,832 shares of the stock in a transaction that occurred on Friday, October 4th. The stock was sold at an average price of $120.02, for a total value of $1,900,156.64. Following the sale, the director now owns 459,449 shares in the company, valued at approximately $55,143,068.98. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 444,291 shares of company stock worth $54,154,859 in the last quarter. 11.78% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

DDOG has been the topic of a number of recent analyst reports. UBS Group reissued an “underperform” rating on shares of Datadog in a research report on Friday, October 18th. BMO Capital Markets raised their target price on shares of Datadog from $132.00 to $135.00 and gave the company an “outperform” rating in a research note on Friday, October 25th. Needham & Company LLC cut their target price on shares of Datadog from $165.00 to $140.00 and set a “buy” rating for the company in a research report on Friday, August 9th. BNP Paribas began coverage on shares of Datadog in a report on Tuesday, October 8th. They set an “outperform” rating and a $150.00 price target for the company. Finally, Scotiabank dropped their price objective on Datadog from $145.00 to $135.00 and set a “sector outperform” rating on the stock in a research note on Friday, August 9th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, twenty-six have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $145.67.

Datadog Price Performance

Shares of DDOG stock opened at $129.79 on Friday. The stock’s fifty day simple moving average is $119.21 and its 200 day simple moving average is $119.49. Datadog, Inc. has a one year low of $98.80 and a one year high of $138.61. The firm has a market cap of $43.76 billion, a price-to-earnings ratio of 288.43, a P/E/G ratio of 22.93 and a beta of 1.10.

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

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.