Cibc Asset Management Reduces $2M in Datadog, Inc. ($DDOG)
CIBC Asset Management trimmed its holdings in Datadog by 4.6%, according to a recent SEC filing.
Key Points
- CIBC Asset Management trimmed its position in Datadog, Inc. by 9,140 shares, reducing its stake by 4.6% to 190,598 shares as of May 2026.
- Datadog shares traded near $250.76 on Tuesday, with a market cap of $85.35 billion and a forward P/E ratio of 83.93.
- Insider Amit Agarwal made significant trades, and analysts like Needham maintained a 'buy' rating with a $260 price target.
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CIBC Asset Management has reduced its stake in Datadog, Inc. (NasdaqGS: DDOG) by 9,140 shares, cutting its holdings by 4.6% to a total of 190,598 shares. The value of this position stands at approximately $47.79 million, as reported in its latest Form 13F filing with the SEC, reflecting holdings as of the end of the quarter.
What Changed in CIBC Asset Management's Datadog Position
CIBC Asset Management trimmed its stake in Datadog, reducing its shares by 9,140 to a total of 190,598 shares. This represents a 4.6% decrease from its previous holding of 199,738 shares. The current value of the position is approximately $47.79 million.
Other Institutional Activity in Datadog
Several other large funds have also adjusted their positions in Datadog. BlackRock, Inc. increased its holdings by 6,921,512 shares, ending with 35,251,123 shares worth about $4.16 billion, marking a 24.4% increase. Vanguard Capital Management LLC opened a new position with 21,320,127 shares valued at approximately $2.52 billion. Similarly, Vanguard Portfolio Management LLC also initiated a new stake with 17,575,658 shares valued at roughly $2.07 billion. State Street Corp made a modest addition of 29,465 shares, bringing its total to 14,060,951 shares worth about $1.66 billion, a 0.2% increase. Meanwhile, FMR LLC reduced its position by 4,912,937 shares, now holding 13,288,419 shares valued at approximately $1.57 billion, a 27% decrease.
Datadog, Inc. Stock Up 9.4%
Shares of Datadog, Inc. traded near $250.76 on Tuesday. The company has a market capitalization of $85.35 billion, with a P/E ratio of 630.97 and a forward P/E of 83.93, indicating high growth expectations. Datadog's stock has seen a 52-week low of $98.01 and a high of $278.71. The stock's 50-day moving average is $197.44, and its 200-day moving average is $153.68. With a beta of 1.553, the stock is more volatile than the broader market.
$DDOG stock price
Daily closing prices, year to date. Not investment advice.
Recent Earnings
Datadog reported annual revenue of $3.67 billion, reflecting a 32.2% growth rate. The company achieved a net margin of 3.7% and a return on equity of 3.93%. Earnings per share stood at $0.38. The next earnings report is expected on August 6, 2026.
Earnings drift grade
Outlook vs expectations on the last report — not price action.
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Forward outlook
15 target raises vs 2 cuts.
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EPS & revenue
EPS beat estimates by 15.9%. Revenue beat estimates by 2.6%.
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Profit surprise
EBITDA missed by 66 percent. Operating income missed by 71 percent.
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Pre-earnings setup
Bar was high, analysts already very bullish.
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Analyst signal
15 target raises, 2 target cuts.
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Earnings quality
Operating margin up 2.4 points. Positive free cash flow.
Earnings Call Summary
Datadog had an outstanding quarter with revenue of $1.006 billion, up 32 percent year over year and beating expectations. The company landed major deals with two of the world's largest artificial intelligence research teams and saw strong growth in non-artificial-intelligence customers as well, with net revenue retention around 120 percent. Management highlighted strong adoption of their artificial intelligence products like GPU monitoring and their security agents, which are helping customers monitor complex workloads faster and more efficiently.
Guidance Datadog raised full year revenue guidance to $4.3 billion to $4.34 billion, up from prior expectations. For next quarter they expect $1.07 billion to $1.08 billion in revenue. They are investing heavily in artificial intelligence products and expect continued strong growth driven by cloud migration and new AI training workloads at hyperscaler companies.
Slightly positive report. The quarter was acceptable, but the forward setup is not strong.
Insider Buying and Selling at Datadog, Inc.
Insider trading activity at Datadog included significant transactions by Amit Agarwal, who both bought and sold shares on June 25, 2026. He acquired and sold 20,000 shares, with some transactions planned under a Rule 10b5-1 plan. Additionally, Alexis Le-Quoc, the Chief Technology Officer, engaged in similar transactions on June 22, 2026, involving 43,224 shares.
Analysts Set New Price Targets
Analysts have shown continued interest in Datadog. On June 25, 2026, Needham maintained its 'buy' rating with a price target of $260. Scotiabank and Citigroup also maintained their 'buy' ratings with targets of $275 and $270, respectively. Truist Securities upgraded its rating to 'buy' with a target of $300 on June 15, 2026. The consensus among analysts is a 'strong buy' with an average price target of $242.12 based on 46 opinions.
About Datadog, Inc.
Datadog, Inc. provides an observability and security platform for cloud applications, serving clients in the U.S. and internationally. Its offerings include infrastructure monitoring, log management, and security solutions. Founded in 2010 and headquartered in New York, the company employs around 8,100 people and is led by CEO Olivier Pomel.
Bottom Line
CIBC Asset Management's recent trimming of its Datadog holdings reflects a typical portfolio adjustment. Investors closely monitor such filings to gauge institutional sentiment and potential market movements. It's important to remember that 13F filings are historical snapshots and may not represent the current positions of these large investors.
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