Datadog, Inc. (NASDAQ:DDOG) Shares Purchased by Canada Pension Plan Investment Board

Canada Pension Plan Investment Board raised its position in shares of Datadog, Inc. (NASDAQ:DDOG) by 18.3% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 367,880 shares of the company’s stock after purchasing an additional 56,988 shares during the quarter. Canada Pension Plan Investment Board owned 0.11% of Datadog worth $47,710,000 at the end of the most recent reporting period.

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

Analyst Upgrades and Downgrades

DDOG has been the subject of a number of analyst reports. BTIG Research raised Datadog from a “neutral” rating to a “buy” rating and set a $143.00 price target for the company in a report on Thursday, August 1st. Needham & Company LLC dropped their price target on shares of Datadog from $165.00 to $140.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. 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 target price on the stock. Scotiabank cut their price target on Datadog from $145.00 to $135.00 and set a “sector outperform” rating for the company in a research note on Friday, August 9th. Finally, UBS Group increased their price target on Datadog from $120.00 to $125.00 and gave the stock a “neutral” rating in a research report on Friday, August 9th. Four equities research analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $139.88.

Insider Activity

In related news, General Counsel Kerry Acocella sold 5,955 shares of the firm’s stock in a transaction dated Monday, June 24th. The stock was sold at an average price of $120.09, for a total transaction of $715,135.95. Following the completion of the sale, the general counsel now directly owns 85,787 shares of the company’s stock, valued at approximately $10,302,160.83. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, General Counsel Kerry Acocella sold 5,955 shares of the stock in a transaction dated Monday, June 24th. The stock was sold at an average price of $120.09, for a total transaction of $715,135.95. Following the transaction, the general counsel now owns 85,787 shares of the company’s stock, valued at approximately $10,302,160.83. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CRO Sean Michael Walters sold 2,351 shares of Datadog stock in a transaction dated Thursday, June 27th. The shares were sold at an average price of $125.00, for a total value of $293,875.00. Following the completion of the transaction, the executive now directly owns 197,421 shares of the company’s stock, valued at $24,677,625. The disclosure for this sale can be found here. Insiders have sold a total of 561,997 shares of company stock valued at $68,517,631 in the last quarter. Insiders own 11.78% of the company’s stock.

Datadog Trading Down 0.7 %

Shares of DDOG opened at $114.76 on Friday. Datadog, Inc. has a 12-month low of $77.81 and a 12-month high of $138.61. 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. The firm has a 50-day moving average price of $114.64 and a 200 day moving average price of $119.60.

Datadog (NASDAQ:DDOG) last posted 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. Datadog had a net margin of 6.81% and a return on equity of 9.01%. The business had revenue of $645.28 million during the quarter, compared to analysts’ expectations of $624.92 million. During the same quarter in the prior year, the company posted $0.36 EPS. The business’s revenue for the quarter was up 26.7% on a year-over-year basis. Equities research analysts predict that Datadog, Inc. will post 0.41 earnings per share for the current fiscal 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.