New Century Financial Group LLC Cuts Stock Holdings in Datadog, Inc. (NASDAQ:DDOG)

New Century Financial Group LLC lowered its stake in Datadog, Inc. (NASDAQ:DDOG) by 6.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,358 shares of the company’s stock after selling 169 shares during the period. New Century Financial Group LLC’s holdings in Datadog were worth $306,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of DDOG. Vanguard Group Inc. grew its position in 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 acquiring an additional 171,693 shares during the last quarter. Massachusetts Financial Services Co. MA grew its holdings in shares of Datadog by 9.2% in the second 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. increased its stake in shares of Datadog by 47.9% in the fourth quarter. 1832 Asset Management L.P. now owns 2,619,500 shares of the company’s stock worth $317,955,000 after buying an additional 848,000 shares during the period. Allspring Global Investments Holdings LLC raised its holdings in Datadog by 19.3% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 1,068,070 shares of the company’s stock valued at $138,518,000 after buying an additional 172,887 shares during the last quarter. Finally, Kodai Capital Management LP purchased a new stake in Datadog during the 1st quarter valued at $116,054,000. Institutional investors own 78.29% of the company’s stock.

Datadog Stock Performance

Shares of NASDAQ DDOG opened at $113.98 on Wednesday. The company has a market cap of $38.13 billion, a PE ratio of 356.19, a P/E/G ratio of 28.94 and a beta of 1.11. The firm’s 50 day moving average price is $113.51 and its 200-day moving average price is $119.22. Datadog, Inc. has a 52-week low of $77.81 and a 52-week high of $138.61.

Datadog (NASDAQ:DDOG) last issued its earnings results on Thursday, August 8th. The company reported $0.43 EPS for the quarter, beating the consensus estimate of $0.37 by $0.06. Datadog had a return on equity of 9.01% and a net margin of 6.81%. The business 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 business posted $0.36 EPS. The company’s revenue was up 26.7% compared to the same quarter last year. On average, analysts forecast that Datadog, Inc. will post 0.42 earnings per share for the current fiscal year.

Analysts Set New Price Targets

DDOG has been the subject of several recent analyst reports. Loop Capital reaffirmed a “buy” rating and set a $160.00 price objective on shares of Datadog in a research note on Friday, July 5th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $150.00 price target on shares of Datadog in a research report on Monday, July 22nd. Barclays cut their price objective on Datadog from $145.00 to $140.00 and set an “overweight” rating on the stock in a research report on Friday, August 9th. Scotiabank decreased their target price on Datadog from $145.00 to $135.00 and set a “sector outperform” rating for the company in a report on Friday, August 9th. Finally, Wedbush reiterated an “outperform” rating and issued a $155.00 price target on shares of Datadog in a report on Friday, August 9th. Four research analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Datadog presently has a consensus rating of “Moderate Buy” and an average target price of $139.89.

Insider Buying and Selling

In other Datadog news, CEO Olivier Pomel sold 200,993 shares of the company’s stock in a transaction dated Monday, July 8th. The shares were sold at an average price of $131.01, for a total transaction of $26,332,092.93. Following the transaction, the chief executive officer now owns 324,539 shares in the company, valued at approximately $42,517,854.39. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO Olivier Pomel sold 200,993 shares of Datadog stock in a transaction that occurred on Monday, July 8th. The shares were sold at an average price of $131.01, for a total value of $26,332,092.93. Following the completion of the sale, the chief executive officer now directly owns 324,539 shares in the company, valued at $42,517,854.39. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Matthew Jacobson sold 9,256 shares of the stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $108.05, for a total transaction of $1,000,110.80. Following the transaction, the director now owns 48,411 shares in the company, valued at approximately $5,230,808.55. The disclosure for this sale can be found here. In the last ninety days, insiders sold 422,991 shares of company stock worth $50,448,980. 11.78% of the stock is owned by corporate insiders.

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.