Natixis Advisors L.P. Reduces Position in Datadog, Inc. (NASDAQ:DDOG)

Posted by Defense World Staff on Aug 31st, 2023

Natixis Advisors L.P. trimmed its holdings in shares of Datadog, Inc. (NASDAQ:DDOG – Free Report) by 1.6% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 76,112 shares of the company’s stock after selling 1,213 shares during the quarter. Natixis Advisors L.P.’s holdings in Datadog were worth $5,530,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Norges Bank bought a new stake in Datadog in the fourth quarter valued at about $202,877,000. Arrowstreet Capital Limited Partnership increased its holdings in Datadog by 104.8% in the first quarter. Arrowstreet Capital Limited Partnership now owns 2,084,788 shares of the company’s stock valued at $315,783,000 after buying an additional 1,066,716 shares during the last quarter. Sands Capital Management LLC increased its holdings in Datadog by 31.1% in the fourth quarter. Sands Capital Management LLC now owns 4,066,310 shares of the company’s stock valued at $298,874,000 after buying an additional 965,045 shares during the last quarter. Voya Investment Management LLC increased its holdings in Datadog by 17.8% in the fourth quarter. Voya Investment Management LLC now owns 6,253,252 shares of the company’s stock valued at $459,614,000 after buying an additional 945,516 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD increased its holdings in Datadog by 10.3% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 9,985,810 shares of the company’s stock valued at $733,957,000 after buying an additional 929,566 shares during the last quarter. 68.30% of the stock is owned by hedge funds and other institutional investors.

Datadog Stock Performance

DDOG opened at $94.16 on Thursday. The company has a market capitalization of $30.60 billion, a price-to-earnings ratio of -362.15, a price-to-earnings-growth ratio of 1,581.88 and a beta of 0.95. The company has a debt-to-equity ratio of 0.45, a current ratio of 3.41 and a quick ratio of 3.42. Datadog, Inc. has a 1-year low of $61.34 and a 1-year high of $118.02. The business has a 50 day moving average price of $100.53 and a two-hundred day moving average price of $86.44.

Datadog (NASDAQ:DDOG – Get Free Report) last posted its quarterly earnings results on Tuesday, August 8th. The company reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.28 by $0.08. The company had revenue of $509.46 million for the quarter, compared to analysts’ expectations of $501.55 million. Datadog had a negative return on equity of 4.66% and a negative net margin of 4.38%. The firm’s revenue was up 25.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.24 earnings per share.

Insider Buying and Selling at Datadog

In other Datadog news, President Amit Agarwal sold 112,500 shares of the company’s stock in a transaction on Thursday, August 24th. The stock was sold at an average price of $92.66, for a total value of $10,424,250.00. Following the transaction, the president now owns 269,141 shares of the company’s stock, valued at $24,938,605.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Datadog news, COO Adam Blitzer sold 8,428 shares of the business’s stock in a transaction on Friday, June 2nd. The shares were sold at an average price of $100.33, for a total transaction of $845,581.24. Following the sale, the chief operating officer now directly owns 220,016 shares of the company’s stock, valued at approximately $22,074,205.28. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, President Amit Agarwal sold 112,500 shares of the business’s stock in a transaction on Thursday, August 24th. The shares were sold at an average price of $92.66, for a total transaction of $10,424,250.00. Following the sale, the president now directly owns 269,141 shares in the company, valued at $24,938,605.06. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,186,528 shares of company stock valued at $113,907,193. Corporate insiders own 14.97% of the company’s stock.

Analyst Ratings Changes

Several analysts recently weighed in on DDOG shares. Wedbush boosted their price objective on Datadog from $90.00 to $120.00 and gave the company an “outperform” rating in a report on Monday, August 7th. Rosenblatt Securities lifted their target price on Datadog from $100.00 to $110.00 and gave the company a “buy” rating in a research note on Tuesday, August 8th. Credit Suisse Group restated an “outperform” rating and issued a $125.00 target price on shares of Datadog in a research note on Wednesday, August 9th. Morgan Stanley decreased their target price on Datadog from $105.00 to $100.00 and set an “overweight” rating for the company in a research note on Wednesday, August 9th. Finally, Citigroup decreased their target price on Datadog from $135.00 to $125.00 in a research note on Tuesday. Six analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Datadog has an average rating of “Moderate Buy” and a consensus price target of $107.45.

View Our Latest Stock Report on Datadog

About Datadog

(Free Report)

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.