Pier 88 Investment Partners LLC Has $1.31 Million Stock Holdings in Datadog, Inc. $DDOG

Pier 88 Investment Partners LLC grew its position in Datadog, Inc. (NASDAQ:DDOG) by 87.0% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,780 shares of the company’s stock after purchasing an additional 4,550 shares during the quarter. Pier 88 Investment Partners LLC’s holdings in Datadog were worth $1,314,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of DDOG. Acadian Asset Management LLC boosted its holdings in shares of Datadog by 347.3% during the 2nd quarter. Acadian Asset Management LLC now owns 179,992 shares of the company’s stock worth $24,176,000 after buying an additional 139,750 shares during the period. Sound View Wealth Advisors Group LLC lifted its position in Datadog by 6.6% during the 2nd quarter. Sound View Wealth Advisors Group LLC now owns 2,483 shares of the company’s stock worth $334,000 after acquiring an additional 153 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new position in Datadog during the 2nd quarter worth $2,380,000. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in Datadog by 4.8% during the second quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 270,640 shares of the company’s stock valued at $36,355,000 after acquiring an additional 12,323 shares during the period. Finally, Aviva PLC boosted its holdings in Datadog by 13.3% during the second quarter. Aviva PLC now owns 184,095 shares of the company’s stock valued at $24,729,000 after acquiring an additional 21,669 shares during the period. 78.29% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on DDOG. Guggenheim set a $105.00 price objective on Datadog in a research note on Thursday. Bank of America raised their target price on Datadog from $180.00 to $215.00 and gave the company a “buy” rating in a report on Friday. Cowen reiterated a “buy” rating on shares of Datadog in a report on Thursday. Raymond James Financial upped their price target on Datadog from $170.00 to $205.00 in a report on Thursday. Finally, UBS Group increased their price objective on Datadog from $189.00 to $225.00 and gave the company a “buy” rating in a research report on Friday. Twenty-nine investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $201.89.

Insider Activity

In other news, CTO Alexis Le-Quoc sold 55,352 shares of the stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $133.83, for a total value of $7,407,758.16. Following the completion of the transaction, the chief technology officer directly owned 438,885 shares of the company’s stock, valued at approximately $58,735,979.55. This represents a 11.20% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Amit Agarwal sold 45,444 shares of the firm’s stock in a transaction that occurred on Wednesday, October 1st. The stock was sold at an average price of $150.08, for a total value of $6,820,235.52. Following the transaction, the director owned 1,640 shares of the company’s stock, valued at $246,131.20. This trade represents a 96.52% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 1,510,236 shares of company stock valued at $207,339,763. 8.70% of the stock is owned by company insiders.

Datadog Stock Up 0.2%

DDOG opened at $191.24 on Friday. The company has a market capitalization of $66.69 billion, a P/E ratio of 616.90, a P/E/G ratio of 74.82 and a beta of 1.20. The company has a debt-to-equity ratio of 0.29, a current ratio of 3.66 and a quick ratio of 3.43. The firm’s fifty day moving average price is $149.87 and its two-hundred day moving average price is $134.92. Datadog, Inc. has a fifty-two week low of $81.63 and a fifty-two week high of $194.87.

Datadog (NASDAQ:DDOG) last released its quarterly earnings data on Thursday, November 6th. The company reported $0.55 EPS for the quarter, topping analysts’ consensus estimates of $0.45 by $0.10. Datadog had a net margin of 3.32% and a return on equity of 4.14%. The company had revenue of $885.65 million during the quarter, compared to the consensus estimate of $852.77 million. During the same period last year, the firm earned $0.46 EPS. The firm’s revenue for the quarter was up 28.4% compared to the same quarter last year. Datadog has set its FY 2025 guidance at 2.000-2.020 EPS. Q4 2025 guidance at 0.54-0.56 EPS. On average, analysts anticipate that Datadog, Inc. will post 0.34 EPS for the current year.

Datadog Company Profile

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.