Raymond James Financial Services Advisors Inc. Sells 2,425 Shares of Datadog, Inc. (NASDAQ:DDOG)

Posted by on May 23rd, 2023

Raymond James Financial Services Advisors Inc. reduced its position in Datadog, Inc. (NASDAQ:DDOG – Get Rating) by 6.3% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 36,226 shares of the company’s stock after selling 2,425 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in Datadog were worth $2,663,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. PNC Financial Services Group Inc. grew its holdings in Datadog by 25.8% during the 1st quarter. PNC Financial Services Group Inc. now owns 2,718 shares of the company’s stock valued at $412,000 after buying an additional 558 shares in the last quarter. MetLife Investment Management LLC purchased a new position in Datadog during the 1st quarter valued at about $2,494,000. Yousif Capital Management LLC grew its holdings in Datadog by 9.3% during the 1st quarter. Yousif Capital Management LLC now owns 3,631 shares of the company’s stock valued at $550,000 after buying an additional 310 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in Datadog by 11.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 139,546 shares of the company’s stock valued at $21,137,000 after buying an additional 14,658 shares in the last quarter. Finally, Blair William & Co. IL grew its holdings in Datadog by 20.0% during the 1st quarter. Blair William & Co. IL now owns 10,343 shares of the company’s stock valued at $1,567,000 after buying an additional 1,725 shares in the last quarter. 70.93% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, COO Adam Blitzer sold 11,002 shares of the company’s stock in a transaction on Thursday, March 2nd. The stock was sold at an average price of $73.70, for a total value of $810,847.40. Following the sale, the chief operating officer now directly owns 174,065 shares of the company’s stock, valued at $12,828,590.50. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, COO Adam Blitzer sold 11,002 shares of the company’s stock in a transaction on Thursday, March 2nd. The stock was sold at an average price of $73.70, for a total value of $810,847.40. Following the sale, the chief operating officer now directly owns 174,065 shares of the company’s stock, valued at $12,828,590.50. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Olivier Pomel sold 26,424 shares of the company’s stock in a transaction on Thursday, March 2nd. The stock was sold at an average price of $73.69, for a total value of $1,947,184.56. Following the completion of the sale, the chief executive officer now directly owns 268,131 shares in the company, valued at $19,758,573.39. The disclosure for this sale can be found here. Insiders have sold a total of 721,932 shares of company stock valued at $53,519,700 over the last ninety days. Company insiders own 14.97% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on DDOG shares. Jefferies Financial Group lifted their target price on Datadog from $85.00 to $90.00 in a report on Thursday, May 4th. Rosenblatt Securities reissued a “buy” rating and set a $105.00 price objective on shares of Datadog in a report on Thursday, March 9th. Stifel Nicolaus cut their price objective on Datadog from $90.00 to $80.00 in a report on Friday, April 28th. Capital One Financial started coverage on Datadog in a report on Friday, February 17th. They set an “overweight” rating and a $105.00 price objective for the company. Finally, Royal Bank of Canada cut their price objective on Datadog from $100.00 to $85.00 in a report on Monday, May 1st. Seven analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $102.28.

Datadog Price Performance

Shares of Datadog stock opened at $93.87 on Tuesday. The company has a quick ratio of 3.19, a current ratio of 3.19 and a debt-to-equity ratio of 0.49. The company has a market cap of $30.21 billion, a PE ratio of -347.65 and a beta of 0.97. The business has a 50 day moving average of $72.24 and a 200 day moving average of $74.00. Datadog, Inc. has a 52 week low of $61.34 and a 52 week high of $120.75.

Datadog (NASDAQ:DDOG – Get Rating) last announced its earnings results on Thursday, May 4th. The company reported ($0.07) EPS for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.05). The business had revenue of $481.71 million for the quarter, compared to the consensus estimate of $468.29 million. Datadog had a negative net margin of 4.68% and a negative return on equity of 4.86%. As a group, equities research analysts forecast that Datadog, Inc. will post -0.15 earnings per share for the current year.

Datadog Profile

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Datadog, Inc provides monitoring and analytics platform for developers, information technology operations teams, and business users in the cloud in North America and internationally. The company's SaaS platform integrates and automates infrastructure monitoring, application performance monitoring, log management, and security monitoring to provide real-time observability of its customers technology stack.

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Institutional Ownership by Quarter for Datadog (NASDAQ:DDOG)

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