Mitsubishi UFJ Trust & Banking Corp Sells 45,566 Shares of Datadog, Inc. (NASDAQ:DDOG)

Mitsubishi UFJ Trust & Banking Corp lowered its position in Datadog, Inc. (NASDAQ:DDOG) by 8.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 490,820 shares of the company’s stock after selling 45,566 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp owned approximately 0.15% of Datadog worth $60,665,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Spire Wealth Management raised its holdings in shares of Datadog by 2,148.5% in the 4th quarter. Spire Wealth Management now owns 5,329 shares of the company’s stock valued at $694,000 after purchasing an additional 5,092 shares in the last quarter. Hsbc Holdings PLC raised its stake in Datadog by 47.8% in the fourth quarter. Hsbc Holdings PLC now owns 193,390 shares of the company’s stock worth $23,505,000 after buying an additional 62,533 shares in the last quarter. Congress Asset Management Co. MA purchased a new stake in Datadog during the first quarter worth $1,083,000. Massachusetts Financial Services Co. MA boosted its position in Datadog by 31.3% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 2,733,448 shares of the company’s stock valued at $331,786,000 after acquiring an additional 651,244 shares in the last quarter. Finally, Zevenbergen Capital Investments LLC increased its holdings in shares of Datadog by 5.6% in the 4th quarter. Zevenbergen Capital Investments LLC now owns 165,405 shares of the company’s stock valued at $20,077,000 after acquiring an additional 8,830 shares during the period. 78.29% of the stock is currently owned by hedge funds and other institutional investors.

Datadog Price Performance

NASDAQ DDOG traded up $0.21 on Friday, hitting $119.03. The company had a trading volume of 2,538,558 shares, compared to its average volume of 3,589,341. The company has a debt-to-equity ratio of 0.34, a current ratio of 3.43 and a quick ratio of 3.43. The company’s fifty day moving average price is $121.11 and its 200-day moving average price is $123.84. The company has a market capitalization of $39.82 billion, a PE ratio of 371.97, a PEG ratio of 39.19 and a beta of 1.11. Datadog, Inc. has a 12-month low of $77.81 and a 12-month high of $138.61.

Datadog (NASDAQ:DDOG) last announced its earnings results on Tuesday, May 7th. The company reported $0.16 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.04) by $0.20. Datadog had a net margin of 5.11% and a return on equity of 7.48%. The business had revenue of $611.25 million for the quarter, compared to analyst estimates of $589.97 million. As a group, analysts predict that Datadog, Inc. will post 0.32 earnings per share for the current year.

Insider Activity at Datadog

In other Datadog news, CEO Olivier Pomel sold 98,690 shares of the business’s stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $109.16, for a total transaction of $10,773,000.40. Following the sale, the chief executive officer now directly owns 324,539 shares in the company, valued at $35,426,677.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CTO Alexis Le-Quoc sold 127,105 shares of Datadog stock in a transaction on Monday, July 1st. The shares were sold at an average price of $130.75, for a total transaction of $16,618,978.75. Following the completion of the sale, the chief technology officer now directly owns 279,025 shares of the company’s stock, valued at approximately $36,482,518.75. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Olivier Pomel sold 98,690 shares of Datadog stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $109.16, for a total value of $10,773,000.40. Following the sale, the chief executive officer now directly owns 324,539 shares of the company’s stock, valued at $35,426,677.24. The disclosure for this sale can be found here. Insiders sold 881,530 shares of company stock worth $106,911,095 in the last three months. 11.78% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on DDOG. Baird R W upgraded Datadog from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, May 8th. Mizuho raised shares of Datadog from a “neutral” rating to an “outperform” rating and increased their price target for the company from $135.00 to $155.00 in a research report on Tuesday, July 16th. Wells Fargo & Company raised shares of Datadog from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $130.00 to $150.00 in a research report on Tuesday, April 23rd. Loop Capital reissued a “buy” rating and set a $160.00 target price on shares of Datadog in a research report on Friday, July 5th. Finally, Wedbush restated an “outperform” rating and issued a $155.00 target price on shares of Datadog in a research note on Wednesday, June 26th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-eight have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Datadog has a consensus rating of “Moderate Buy” and a consensus price target of $138.21.

About Datadog

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.