Harvest Fund Management Co. Ltd Cuts Stake in Datadog, Inc. (NASDAQ:DDOG)

Harvest Fund Management Co. Ltd trimmed its position in shares of Datadog, Inc. (NASDAQ:DDOG) by 22.8% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 20,041 shares of the company’s stock after selling 5,925 shares during the quarter. Harvest Fund Management Co. Ltd’s holdings in Datadog were worth $1,986,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of DDOG. Brighton Jones LLC bought a new position in shares of Datadog in the 4th quarter worth approximately $209,000. Orion Portfolio Solutions LLC grew its holdings in Datadog by 46.7% during the 4th quarter. Orion Portfolio Solutions LLC now owns 10,234 shares of the company’s stock valued at $1,462,000 after buying an additional 3,260 shares in the last quarter. Allianz SE purchased a new stake in Datadog during the 4th quarter valued at approximately $179,000. O Shaughnessy Asset Management LLC grew its holdings in shares of Datadog by 35.5% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 16,071 shares of the company’s stock valued at $2,296,000 after purchasing an additional 4,213 shares in the last quarter. Finally, Axiom Investors LLC DE purchased a new position in shares of Datadog in the fourth quarter valued at $2,320,000. 78.29% of the stock is owned by hedge funds and other institutional investors.

Datadog Stock Down 0.3%

Shares of NASDAQ:DDOG opened at $150.27 on Wednesday. The stock has a market cap of $51.90 billion, a P/E ratio of 326.68, a PEG ratio of 82.91 and a beta of 1.03. The company has a quick ratio of 2.74, a current ratio of 2.74 and a debt-to-equity ratio of 0.34. Datadog, Inc. has a 52-week low of $81.63 and a 52-week high of $170.08. The business has a fifty day moving average of $131.69 and a two-hundred day moving average of $120.82.

Datadog (NASDAQ:DDOG) last announced its earnings results on Tuesday, May 6th. The company reported $0.46 EPS for the quarter, beating analysts’ consensus estimates of $0.42 by $0.04. Datadog had a return on equity of 6.39% and a net margin of 5.85%. The company had revenue of $761.55 million during the quarter, compared to analysts’ expectations of $741.73 million. During the same period last year, the business posted $0.44 EPS. Datadog’s revenue for the quarter was up 24.6% on a year-over-year basis. On average, research analysts expect that Datadog, Inc. will post 0.34 earnings per share for the current year.

Insider Buying and Selling

In other Datadog news, CFO David M. Obstler sold 15,000 shares of the stock in a transaction dated Thursday, July 3rd. The stock was sold at an average price of $147.43, for a total value of $2,211,450.00. Following the sale, the chief financial officer owned 399,270 shares of the company’s stock, valued at $58,864,376.10. This trade represents a 3.62% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CTO Alexis Le-Quoc sold 41,468 shares of the firm’s stock in a transaction dated Monday, July 14th. The stock was sold at an average price of $139.27, for a total value of $5,775,248.36. Following the sale, the chief technology officer directly owned 452,769 shares in the company, valued at $63,057,138.63. This trade represents a 8.39% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 957,666 shares of company stock worth $117,576,223 over the last ninety days. Company insiders own 8.70% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. BTIG Research set a $136.00 target price on shares of Datadog and gave the company a “buy” rating in a report on Tuesday, May 6th. Canaccord Genuity Group dropped their price objective on shares of Datadog from $150.00 to $145.00 and set a “buy” rating for the company in a research note on Wednesday, May 7th. UBS Group lifted their price objective on shares of Datadog from $140.00 to $165.00 and gave the stock a “buy” rating in a research note on Wednesday, July 16th. Scotiabank set a $130.00 target price on Datadog and gave the stock an “outperform” rating in a research report on Wednesday, May 7th. Finally, Stifel Nicolaus lifted their target price on Datadog from $120.00 to $135.00 and gave the stock a “hold” rating in a research report on Thursday, June 26th. One analyst has rated the stock with a sell rating, five have issued a hold rating and twenty-four have given a buy rating to the stock. Based on data from MarketBeat.com, Datadog presently has a consensus rating of “Moderate Buy” and an average price target of $146.79.

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.