Franklin Resources Inc. decreased its stake in Datadog, Inc. (NASDAQ:DDOG – Free Report) by 0.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,945,856 shares of the company’s stock after selling 10,398 shares during the quarter. Franklin Resources Inc. owned approximately 0.92% of Datadog worth $214,046,000 as of its most recent SEC filing.
Several other institutional investors have also recently made changes to their positions in DDOG. Massmutual Trust Co. FSB ADV lifted its stake in shares of Datadog by 92.4% during the 1st quarter. Massmutual Trust Co. FSB ADV now owns 379 shares of the company’s stock valued at $28,000 after buying an additional 182 shares in the last quarter. Silicon Valley Capital Partners bought a new stake in Datadog during the fourth quarter valued at about $32,000. Ogorek Anthony Joseph NY ADV lifted its position in shares of Datadog by 381.0% in the first quarter. Ogorek Anthony Joseph NY ADV now owns 481 shares of the company’s stock valued at $34,000 after acquiring an additional 381 shares in the last quarter. Exos TFP Holdings LLC boosted its stake in shares of Datadog by 270.0% in the first quarter. Exos TFP Holdings LLC now owns 481 shares of the company’s stock worth $35,000 after acquiring an additional 351 shares during the period. Finally, Manchester Capital Management LLC bought a new position in shares of Datadog in the first quarter worth about $37,000. Institutional investors own 68.30% of the company’s stock.
Insider Activity at Datadog
In other Datadog news, insider Madre Armelle De sold 1,875 shares of the company’s stock in a transaction dated Monday, July 3rd. The shares were sold at an average price of $98.10, for a total value of $183,937.50. Following the transaction, the insider now directly owns 100,534 shares in the company, valued at approximately $9,862,385.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, President Amit Agarwal sold 124,000 shares of Datadog stock in a transaction dated Thursday, August 17th. The stock was sold at an average price of $90.15, for a total value of $11,178,600.00. Following the completion of the sale, the president now directly owns 269,141 shares in the company, valued at $24,263,061.15. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Madre Armelle De sold 1,875 shares of the company’s stock in a transaction dated Monday, July 3rd. The stock was sold at an average price of $98.10, for a total transaction of $183,937.50. Following the completion of the sale, the insider now directly owns 100,534 shares of the company’s stock, valued at $9,862,385.40. The disclosure for this sale can be found here. Insiders sold 1,070,407 shares of company stock worth $101,910,610 in the last 90 days. 14.97% of the stock is owned by corporate insiders.
Analyst Upgrades and Downgrades
A number of research firms recently commented on DDOG. Wedbush boosted their price target on Datadog from $90.00 to $120.00 and gave the stock an “outperform” rating in a report on Monday, August 7th. Robert W. Baird boosted their target price on shares of Datadog from $87.00 to $100.00 in a report on Wednesday, August 9th. Citigroup dropped their target price on shares of Datadog from $135.00 to $125.00 and set a “buy” rating for the company in a research report on Tuesday, August 29th. TD Cowen started coverage on shares of Datadog in a research note on Friday, August 18th. They issued an “outperform” rating and a $120.00 price target on the stock. Finally, Credit Suisse Group reissued an “outperform” rating and set a $125.00 price objective on shares of Datadog in a report on Wednesday, August 9th. Six research analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $107.45.
Datadog Trading Down 1.9 %
Shares of DDOG traded down $1.85 during mid-day trading on Tuesday, reaching $95.88. 631,875 shares of the company’s stock traded hands, compared to its average volume of 4,999,400. The company has a current ratio of 3.41, a quick ratio of 3.42 and a debt-to-equity ratio of 0.45. The stock’s 50-day moving average is $100.74 and its two-hundred day moving average is $86.72. Datadog, Inc. has a 12 month low of $61.34 and a 12 month high of $118.02.
Datadog (NASDAQ:DDOG – Get Free Report) last announced its quarterly earnings data on Tuesday, August 8th. The company reported $0.36 EPS for the quarter, beating the consensus estimate of $0.28 by $0.08. Datadog had a negative return on equity of 4.66% and a negative net margin of 4.38%. The company had revenue of $509.46 million for the quarter, compared to the consensus estimate of $501.55 million. During the same quarter in the prior year, the company posted $0.24 EPS. Datadog’s quarterly revenue was up 25.4% on a year-over-year basis.
Datadog Company Profile
Datadog, Inc operates an observability and security platform for cloud applications in North America and internationally. The company’s products include infrastructure and application performance monitoring, log management, digital experience monitoring, continuous profiler, database monitoring, network monitoring, incident management, observability pipelines, cloud cost management, universal service monitoring, cloud security management, application security management.