JTC Employer Solutions Trustee Ltd Buys Shares of 17,288 Datadog, Inc. (NASDAQ:DDOG)

JTC Employer Solutions Trustee Ltd purchased a new stake in shares of Datadog, Inc. (NASDAQ:DDOG - Free Report) during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 17,288 shares of the company's stock, valued at approximately $1,715,000.

A number of other institutional investors and hedge funds have also bought and sold shares of DDOG. Groupama Asset Managment grew its holdings in shares of Datadog by 407.6% in the fourth quarter. Groupama Asset Managment now owns 6,600,000 shares of the company's stock worth $943,074,000 after purchasing an additional 5,299,688 shares during the last quarter. Janus Henderson Group PLC lifted its stake in Datadog by 17,477.2% in the fourth quarter. Janus Henderson Group PLC now owns 4,016,558 shares of the company's stock worth $573,923,000 after acquiring an additional 3,993,707 shares during the period. Norges Bank purchased a new stake in Datadog in the fourth quarter worth $462,910,000. Jennison Associates LLC lifted its stake in Datadog by 47.9% in the fourth quarter. Jennison Associates LLC now owns 9,278,648 shares of the company's stock worth $1,325,826,000 after acquiring an additional 3,005,300 shares during the period. Finally, Brown Advisory Inc. lifted its stake in Datadog by 2,804.2% in the fourth quarter. Brown Advisory Inc. now owns 2,749,174 shares of the company's stock worth $392,830,000 after acquiring an additional 2,654,512 shares during the period. 78.29% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, COO Adam Blitzer sold 14,710 shares of the firm's stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $118.24, for a total value of $1,739,310.40. Following the transaction, the chief operating officer now owns 198,259 shares in the company, valued at $23,442,144.16. This trade represents a 6.91% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Olivier Pomel sold 107,365 shares of the firm's stock in a transaction that occurred on Monday, April 7th. The shares were sold at an average price of $87.33, for a total value of $9,376,185.45. Following the completion of the transaction, the chief executive officer now owns 563,598 shares in the company, valued at approximately $49,219,013.34. This trade represents a 16.00% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 685,288 shares of company stock valued at $72,371,258 over the last ninety days. Company insiders own 8.70% of the company's stock.

Datadog Stock Performance

Datadog stock traded up $3.53 during mid-day trading on Thursday, hitting $123.23. The company's stock had a trading volume of 3,016,739 shares, compared to its average volume of 4,380,693. Datadog, Inc. has a one year low of $81.63 and a one year high of $170.08. The company has a 50 day moving average of $104.27 and a 200-day moving average of $124.64. The stock has a market cap of $42.56 billion, a PE ratio of 241.63, a P/E/G ratio of 44.03 and a beta of 1.12.

Datadog (NASDAQ:DDOG - Get Free Report) last issued its quarterly earnings data on Tuesday, May 6th. The company reported $0.46 earnings per share for the quarter, topping analysts' consensus estimates of $0.42 by $0.04. Datadog had a return on equity of 8.28% and a net margin of 6.85%. The firm had revenue of $761.55 million during the quarter, compared to analysts' expectations of $741.73 million. During the same period in the prior year, the business posted $0.44 EPS. The firm's quarterly revenue was up 24.6% on a year-over-year basis. On average, equities research analysts forecast that Datadog, Inc. will post 0.34 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have commented on DDOG shares. Morgan Stanley lowered their price objective on Datadog from $143.00 to $115.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 16th. Truist Financial cut their price target on Datadog from $140.00 to $120.00 and set a "hold" rating for the company in a research note on Monday, March 31st. Canaccord Genuity Group cut their price target on Datadog from $150.00 to $145.00 and set a "buy" rating for the company in a research note on Wednesday, May 7th. Wells Fargo & Company cut their price objective on Datadog from $140.00 to $115.00 and set an "equal weight" rating for the company in a research note on Wednesday, May 7th. Finally, Royal Bank of Canada reiterated an "outperform" rating and set a $119.00 price objective on shares of Datadog in a research note on Wednesday, May 7th. Seven investment analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $141.04.

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.