E Fund Management Co. Ltd. Has $342,000 Position in Datadog, Inc. (NASDAQ:DDOG)

E Fund Management Co. Ltd. trimmed its position in Datadog, Inc. (NASDAQ:DDOG) by 40.6% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,637 shares of the company’s stock after selling 1,803 shares during the quarter. E Fund Management Co. Ltd.’s holdings in Datadog were worth $342,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in DDOG. Kodai Capital Management LP acquired a new position in Datadog in the 1st quarter valued at $116,054,000. 1832 Asset Management L.P. grew its holdings in Datadog by 47.9% in the 4th quarter. 1832 Asset Management L.P. now owns 2,619,500 shares of the company’s stock valued at $317,955,000 after buying an additional 848,000 shares in the last quarter. DNB Asset Management AS grew its holdings in Datadog by 1,974.5% in the 2nd quarter. DNB Asset Management AS now owns 847,600 shares of the company’s stock valued at $109,925,000 after buying an additional 806,741 shares in the last quarter. Vanguard Group Inc. grew its holdings in Datadog by 2.8% in the 4th quarter. Vanguard Group Inc. now owns 27,259,414 shares of the company’s stock valued at $3,308,748,000 after buying an additional 734,539 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its position in shares of Datadog by 9.2% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 3,944,943 shares of the company’s stock valued at $511,620,000 after acquiring an additional 331,808 shares during the period. 78.29% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, CTO Alexis Le-Quoc sold 127,105 shares of the stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $130.75, for a total value of $16,618,978.75. Following the completion of the sale, the chief technology officer now owns 279,025 shares of the company’s stock, valued at $36,482,518.75. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related 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 transaction of $218,625.00. Following the completion of the sale, the insider now owns 92,025 shares of the company’s stock, valued at $11,503,125. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Alexis Le-Quoc sold 127,105 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $130.75, for a total value of $16,618,978.75. Following the sale, the chief technology officer now directly owns 279,025 shares of the company’s stock, valued at approximately $36,482,518.75. The disclosure for this sale can be found here. Over the last quarter, insiders sold 561,997 shares of company stock valued at $68,517,631. Company insiders own 11.78% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on DDOG. Bank of America upgraded Datadog from a “neutral” rating to a “buy” rating and upped their target price for the company from $143.00 to $155.00 in a research report on Thursday, May 30th. UBS Group upped their target price on Datadog from $120.00 to $125.00 and gave the company a “neutral” rating in a research report on Friday, August 9th. BTIG Research upgraded Datadog from a “neutral” rating to a “buy” rating and set a $143.00 target price for the company in a research report on Thursday, August 1st. Loop Capital reiterated a “buy” rating and set a $160.00 target price on shares of Datadog in a research report on Friday, July 5th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $150.00 target price on shares of Datadog in a research report on Monday, July 22nd. Four equities research analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $139.88.

Datadog Trading Up 1.1 %

Shares of DDOG stock opened at $113.18 on Thursday. The stock has a market cap of $37.86 billion, a price-to-earnings ratio of 353.69, a PEG ratio of 27.84 and a beta of 1.11. The stock has a 50-day moving average of $115.13 and a 200-day moving average of $119.76. Datadog, Inc. has a 1-year low of $77.81 and a 1-year high of $138.61.

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

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.