Thoroughbred Financial Services LLC Purchases Shares of 3,713 Datadog, Inc. (NASDAQ:DDOG)

Thoroughbred Financial Services LLC purchased a new stake in Datadog, Inc. (NASDAQ:DDOG) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 3,713 shares of the company’s stock, valued at approximately $481,000.

Other large investors also recently bought and sold shares of the company. Norges Bank acquired a new position in shares of Datadog during the 4th quarter worth approximately $384,986,000. Kodai Capital Management LP acquired a new position in shares of Datadog during the 1st quarter worth approximately $116,054,000. 1832 Asset Management L.P. raised its stake in shares of Datadog by 47.9% during the 4th quarter. 1832 Asset Management L.P. now owns 2,619,500 shares of the company’s stock worth $317,955,000 after buying an additional 848,000 shares during the period. DNB Asset Management AS raised its stake in shares of Datadog by 1,974.5% during the 2nd quarter. DNB Asset Management AS now owns 847,600 shares of the company’s stock worth $109,925,000 after buying an additional 806,741 shares during the period. Finally, Vanguard Group Inc. raised its stake in shares of Datadog by 2.8% during the 4th quarter. Vanguard Group Inc. now owns 27,259,414 shares of the company’s stock worth $3,308,748,000 after buying an additional 734,539 shares during the period. 78.29% of the stock is owned by institutional investors and hedge funds.

Datadog Stock Performance

Shares of NASDAQ DDOG opened at $111.40 on Tuesday. Datadog, Inc. has a fifty-two week low of $77.81 and a fifty-two week high of $138.61. The firm has a market capitalization of $37.26 billion, a PE ratio of 348.13, a price-to-earnings-growth ratio of 27.84 and a beta of 1.11. The stock’s 50-day simple moving average is $115.69 and its 200-day simple moving average is $119.94.

Datadog (NASDAQ:DDOG) last released its quarterly earnings results on Thursday, August 8th. The company reported $0.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.37 by $0.06. The firm had revenue of $645.28 million for the quarter, compared to the consensus estimate of $624.92 million. Datadog had a return on equity of 9.01% and a net margin of 6.81%. The firm’s quarterly revenue was up 26.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.36 EPS. On average, sell-side analysts forecast that Datadog, Inc. will post 0.41 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. Scotiabank dropped their price target on Datadog from $145.00 to $135.00 and set a “sector outperform” rating for the company in a research report on Friday, August 9th. Cantor Fitzgerald reiterated an “overweight” rating and set a $150.00 price target on shares of Datadog in a research report on Monday, July 22nd. Needham & Company LLC dropped their price target on Datadog from $165.00 to $140.00 and set a “buy” rating for the company in a research report on Friday, August 9th. Wedbush restated an “outperform” rating and issued a $155.00 target price on shares of Datadog in a report on Friday, August 9th. Finally, Monness Crespi & Hardt upgraded Datadog from a “sell” rating to a “neutral” rating in a report on Wednesday, August 7th. Four research analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Datadog has an average rating of “Moderate Buy” and a consensus target price of $139.88.

Insider Buying and Selling at Datadog

In other Datadog news, CEO Olivier Pomel sold 85,637 shares of Datadog stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $104.21, for a total value of $8,924,231.77. Following the transaction, the chief executive officer now directly owns 405,314 shares in the company, valued at approximately $42,237,771.94. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Madre Armelle De sold 1,749 shares of the firm’s stock in a transaction that occurred on Thursday, June 27th. The stock was sold at an average price of $125.00, for a total value of $218,625.00. Following the completion of the sale, the insider now directly owns 92,025 shares of the company’s stock, valued at approximately $11,503,125. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Olivier Pomel sold 85,637 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $104.21, for a total value of $8,924,231.77. Following the completion of the sale, the chief executive officer now directly owns 405,314 shares of the company’s stock, valued at $42,237,771.94. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 561,997 shares of company stock worth $68,517,631. 11.78% of the stock is currently owned by insiders.

Datadog 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.