Datadog, Inc. (NASDAQ:DDOG) Shares Purchased by Heritage Investors Management Corp

Heritage Investors Management Corp lifted its stake in Datadog, Inc. (NASDAQ:DDOG) by 478.7% in the 1st quarter, Holdings Channel reports. The firm owned 56,540 shares of the company’s stock after purchasing an additional 46,769 shares during the quarter. Heritage Investors Management Corp’s holdings in Datadog were worth $5,609,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Groupama Asset Managment raised its position in Datadog by 407.6% during the fourth quarter. Groupama Asset Managment now owns 6,600,000 shares of the company’s stock worth $943,074,000 after acquiring an additional 5,299,688 shares during the last quarter. Janus Henderson Group PLC raised its position in Datadog by 17,477.2% during the fourth quarter. Janus Henderson Group PLC now owns 4,016,558 shares of the company’s stock worth $573,923,000 after acquiring an additional 3,993,707 shares during the last quarter. Norges Bank acquired a new position in Datadog during the fourth quarter worth about $462,910,000. Brown Advisory Inc. raised its position in Datadog by 2,804.2% during the fourth quarter. Brown Advisory Inc. now owns 2,749,174 shares of the company’s stock worth $392,830,000 after acquiring an additional 2,654,512 shares during the last quarter. Finally, Assenagon Asset Management S.A. raised its position in Datadog by 341.0% during the first quarter. Assenagon Asset Management S.A. now owns 1,569,341 shares of the company’s stock worth $155,694,000 after acquiring an additional 1,213,475 shares during the last quarter. Institutional investors and hedge funds own 78.29% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Olivier Pomel sold 32,924 shares of the firm’s stock in a transaction that occurred on Tuesday, July 8th. The shares were sold at an average price of $146.05, for a total transaction of $4,808,550.20. Following the transaction, the chief executive officer owned 548,715 shares of the company’s stock, valued at approximately $80,139,825.75. This trade represents a 5.66% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO Alexis Le-Quoc sold 41,468 shares of Datadog stock in a transaction that occurred on Monday, July 14th. The shares were sold at an average price of $139.27, for a total transaction of $5,775,248.36. Following the completion of the transaction, the chief technology officer directly owned 452,769 shares in the company, valued at approximately $63,057,138.63. This represents a 8.39% decrease in their position. The disclosure for this sale can be found here. Insiders sold 957,666 shares of company stock valued at $117,576,223 over the last ninety days. Insiders own 8.70% of the company’s stock.

Datadog Stock Performance

Shares of DDOG opened at $145.02 on Friday. The firm has a 50-day moving average price of $127.40 and a 200 day moving average price of $120.60. The firm has a market capitalization of $50.08 billion, a PE ratio of 315.27, a P/E/G ratio of 79.75 and a beta of 1.03. The company has a quick ratio of 2.74, a current ratio of 2.74 and a debt-to-equity ratio of 0.34. Datadog, Inc. has a 52-week low of $81.63 and a 52-week high of $170.08.

Datadog (NASDAQ:DDOG) last announced its earnings results on Tuesday, May 6th. The company reported $0.46 EPS for the quarter, topping the consensus estimate of $0.42 by $0.04. Datadog had a net margin of 5.85% and a return on equity of 6.39%. The company had revenue of $761.55 million during the quarter, compared to analysts’ expectations of $741.73 million. During the same period last year, the company posted $0.44 earnings per share. The business’s revenue for the quarter was up 24.6% on a year-over-year basis. On average, sell-side analysts anticipate that Datadog, Inc. will post 0.34 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the stock. Macquarie cut their price objective on shares of Datadog from $175.00 to $140.00 and set an “outperform” rating for the company in a research report on Wednesday, May 7th. Scotiabank set a $130.00 target price on shares of Datadog and gave the company an “outperform” rating in a report on Wednesday, May 7th. Bank of America boosted their target price on shares of Datadog from $150.00 to $175.00 and gave the company a “buy” rating in a report on Monday, July 7th. Rosenblatt Securities lowered their target price on shares of Datadog from $160.00 to $150.00 and set a “buy” rating for the company in a report on Monday, May 5th. Finally, Needham & Company LLC set a $140.00 target price on shares of Datadog and gave the company a “buy” rating in a report on Thursday, June 12th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and twenty-four have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $145.34.

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.