1832 Asset Management L.P. Buys 138,700 Shares of Datadog, Inc. (NASDAQ:DDOG)

1832 Asset Management L.P. raised its stake in shares of Datadog, Inc. (NASDAQ:DDOG) by 5.9% during the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 2,486,600 shares of the company’s stock after purchasing an additional 138,700 shares during the quarter. 1832 Asset Management L.P. owned 0.74% of Datadog worth $322,487,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in DDOG. Dimensional Fund Advisors LP boosted its position in shares of Datadog by 12.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 254,076 shares of the company’s stock valued at $30,842,000 after acquiring an additional 28,394 shares in the last quarter. Janney Montgomery Scott LLC boosted its position in shares of Datadog by 373.4% during the 4th quarter. Janney Montgomery Scott LLC now owns 11,172 shares of the company’s stock valued at $1,356,000 after acquiring an additional 8,812 shares in the last quarter. Coldstream Capital Management Inc. acquired a new stake in shares of Datadog during the 4th quarter valued at about $334,000. Corient Private Wealth LLC boosted its position in shares of Datadog by 4.9% during the 4th quarter. Corient Private Wealth LLC now owns 10,266 shares of the company’s stock valued at $1,246,000 after acquiring an additional 484 shares in the last quarter. Finally, Quest Partners LLC acquired a new position in Datadog in the fourth quarter valued at about $36,000. 78.29% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Datadog news, Director Matthew Jacobson sold 9,256 shares of the stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $108.05, for a total value of $1,000,110.80. Following the sale, the director now directly owns 48,411 shares in the company, valued at $5,230,808.55. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, CEO Olivier Pomel sold 200,993 shares of the firm’s stock in a transaction on Monday, July 8th. The shares were sold at an average price of $131.01, for a total transaction of $26,332,092.93. Following the sale, the chief executive officer now directly owns 324,539 shares in the company, valued at $42,517,854.39. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Matthew Jacobson sold 9,256 shares of the firm’s stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $108.05, for a total transaction of $1,000,110.80. Following the sale, the director now owns 48,411 shares in the company, valued at $5,230,808.55. The disclosure for this sale can be found here. Over the last three months, insiders have sold 561,997 shares of company stock worth $68,517,631. Company insiders own 11.78% of the company’s stock.

Datadog Price Performance

Shares of NASDAQ DDOG opened at $114.76 on Friday. The company’s 50 day simple moving average is $114.64 and its 200 day simple moving average is $119.60. The firm has a market capitalization of $38.39 billion, a P/E ratio of 358.63, a P/E/G ratio of 27.84 and a beta of 1.11. Datadog, Inc. has a fifty-two week low of $77.81 and a fifty-two week high of $138.61.

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

Analyst Upgrades and Downgrades

Several brokerages have weighed in on DDOG. Evercore ISI began coverage on shares of Datadog in a research note on Monday, July 15th. They set an “outperform” rating and a $150.00 price objective on the stock. Mizuho raised shares of Datadog from a “neutral” rating to an “outperform” rating and upped their price objective for the stock from $135.00 to $155.00 in a research note on Tuesday, July 16th. Bank of America raised shares of Datadog from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $143.00 to $155.00 in a research note on Thursday, May 30th. Scotiabank decreased their price objective on shares of Datadog from $145.00 to $135.00 and set a “sector outperform” rating on the stock in a research note on Friday, August 9th. Finally, UBS Group upped their price objective on shares of Datadog from $120.00 to $125.00 and gave the stock a “neutral” rating in a research note on Friday, August 9th. Four investment analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $139.88.

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.