Skandinaviska Enskilda Banken AB publ Increases Stock Position in Datadog, Inc. (NASDAQ:DDOG)

Skandinaviska Enskilda Banken AB publ grew its position in shares of Datadog, Inc. (NASDAQ:DDOG) by 35.3% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 86,246 shares of the company’s stock after purchasing an additional 22,499 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in Datadog were worth $11,188,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also made changes to their positions in DDOG. Vanguard Group Inc. increased its position in Datadog by 0.6% during the first quarter. Vanguard Group Inc. now owns 27,431,107 shares of the company’s stock worth $3,390,485,000 after buying an additional 171,693 shares during the period. Sands Capital Management LLC grew its position in shares of Datadog by 3.7% during the fourth quarter. Sands Capital Management LLC now owns 4,564,776 shares of the company’s stock worth $554,073,000 after acquiring an additional 162,108 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its stake in Datadog by 9.2% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 3,944,943 shares of the company’s stock worth $511,620,000 after purchasing an additional 331,808 shares during the period. 1832 Asset Management L.P. boosted its stake in 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 purchasing an additional 848,000 shares during the period. Finally, Allspring Global Investments Holdings LLC grew its position in Datadog by 19.3% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 1,068,070 shares of the company’s stock worth $138,518,000 after purchasing an additional 172,887 shares during the last quarter. Institutional investors and hedge funds own 78.29% of the company’s stock.

Datadog Price Performance

Shares of Datadog stock opened at $114.76 on Friday. Datadog, Inc. has a 1 year low of $77.81 and a 1 year high of $138.61. The business has a 50 day moving average price of $114.64 and a 200 day moving average price of $119.60. The company 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 (NASDAQ:DDOG) last issued its quarterly earnings data on Thursday, August 8th. The company reported $0.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.06. The business 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 business’s revenue was up 26.7% on a year-over-year basis. During the same period in the prior year, the business earned $0.36 earnings per share. As a group, research analysts expect that Datadog, Inc. will post 0.41 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on DDOG. Monness Crespi & Hardt upgraded shares of Datadog from a “sell” rating to a “neutral” rating in a research note on Wednesday, August 7th. BMO Capital Markets lowered their target price on Datadog from $140.00 to $132.00 and set an “outperform” rating on the stock in a research note on Friday, August 9th. Evercore ISI assumed coverage on Datadog in a research note on Monday, July 15th. They set an “outperform” rating and a $150.00 price target for the company. Scotiabank lowered 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 report on Friday, August 9th. Finally, BTIG Research upgraded shares of Datadog from a “neutral” rating to a “buy” rating and set a $143.00 price objective for the company in a research report on Thursday, August 1st. Four analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $139.88.

Insiders Place Their Bets

In related news, CRO Sean Michael Walters sold 2,351 shares of the company’s stock in a transaction that occurred on Thursday, June 27th. The shares were sold at an average price of $125.00, for a total transaction of $293,875.00. Following the transaction, the executive now owns 197,421 shares of the company’s stock, valued at $24,677,625. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, CTO Alexis Le-Quoc sold 127,105 shares of the company’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $130.75, for a total transaction of $16,618,978.75. Following the completion of the transaction, the chief technology officer now owns 279,025 shares of the company’s stock, valued at approximately $36,482,518.75. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CRO Sean Michael Walters sold 2,351 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 $293,875.00. Following the completion of the sale, the executive now directly owns 197,421 shares in the company, valued at $24,677,625. The disclosure for this sale can be found here. Insiders have sold 561,997 shares of company stock valued at $68,517,631 in the last ninety days. Insiders own 11.78% of the company’s stock.

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.