Adage Capital Partners GP L.L.C. Raises Position in Datadog, Inc. $DDOG

Key Points

• Adage Capital Partners GP L.L.C. significantly increased its stake in Datadog, Inc. by 449.0% in the first quarter, holding 420,000 shares valued at approximately $41.67 million by the end of the quarter.
• Major institutional investors, including Goldman Sachs and Janus Henderson Group, have also drastically increased their positions in Datadog, raising overall institutional ownership to 78.29%.
• Datadog's stock recently received optimistic analyst ratings with price targets set as high as $175.00, reflecting a strong market sentiment towards its performance and potential growth.

Adage Capital Partners GP L.L.C. increased its holdings in shares of Datadog, Inc. (NASDAQ:DDOG - Free Report) by 449.0% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 420,000 shares of the company's stock after purchasing an additional 343,500 shares during the quarter. Adage Capital Partners GP L.L.C. owned 0.12% of Datadog worth $41,668,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. OVERSEA CHINESE BANKING Corp Ltd boosted its holdings in Datadog by 887.0% in the first quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 25,199 shares of the company's stock worth $25,000 after purchasing an additional 22,646 shares during the period. Cornerstone Planning Group LLC raised its position in Datadog by 96.9% in the first quarter. Cornerstone Planning Group LLC now owns 313 shares of the company's stock worth $30,000 after acquiring an additional 154 shares in the last quarter. Costello Asset Management INC bought a new stake in Datadog in the first quarter worth about $30,000. Putney Financial Group LLC bought a new stake in Datadog in the fourth quarter worth about $32,000. Finally, Elequin Capital LP bought a new stake in Datadog in the fourth quarter worth about $34,000. Institutional investors and hedge funds own 78.29% of the company's stock.

Insiders Place Their Bets

In other news, COO Adam Blitzer sold 7,950 shares of the business's stock in a transaction on Wednesday, September 3rd. The stock was sold at an average price of $132.13, for a total transaction of $1,050,433.50. Following the completion of the transaction, the chief operating officer owned 181,728 shares of the company's stock, valued at approximately $24,011,720.64. The trade was a 4.19% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO David M. Obstler sold 12,619 shares of the company's stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $133.85, for a total value of $1,689,053.15. Following the completion of the transaction, the chief financial officer directly owned 386,651 shares of the company's stock, valued at approximately $51,753,236.35. The trade was a 3.16% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,398,448 shares of company stock worth $182,812,285 over the last three months. 8.70% of the stock is currently owned by corporate insiders.

Datadog Stock Up 2.1%

Shares of NASDAQ:DDOG traded up $2.88 during trading on Tuesday, hitting $139.32. 1,198,842 shares of the company's stock traded hands, compared to its average volume of 5,797,862. Datadog, Inc. has a 52 week low of $81.63 and a 52 week high of $170.08. The company has a current ratio of 3.43, a quick ratio of 3.43 and a debt-to-equity ratio of 0.31. The company has a market cap of $48.59 billion, a price-to-earnings ratio of 398.51, a price-to-earnings-growth ratio of 54.78 and a beta of 1.11. The company has a 50-day moving average price of $137.82 and a 200-day moving average price of $119.40.

Datadog (NASDAQ:DDOG - Get Free Report) last announced its earnings results on Thursday, August 7th. The company reported $0.46 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.41 by $0.05. The business had revenue of $826.76 million for the quarter, compared to analyst estimates of $791.72 million. Datadog had a return on equity of 5.04% and a net margin of 4.13%.Datadog's revenue for the quarter was up 28.1% compared to the same quarter last year. During the same quarter last year, the firm earned $0.43 EPS. Datadog has set its Q3 2025 guidance at 0.440-0.460 EPS. FY 2025 guidance at 1.800-1.830 EPS. As a group, research analysts forecast that Datadog, Inc. will post 0.34 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the company. Citigroup lifted their price target on Datadog from $165.00 to $170.00 and gave the stock a "buy" rating in a research note on Monday, August 18th. Sanford C. Bernstein reaffirmed an "outperform" rating on shares of Datadog in a research report on Friday, August 8th. Scotiabank reissued an "outperform" rating on shares of Datadog in a research report on Friday, August 8th. DA Davidson set a $160.00 price objective on Datadog and gave the company a "buy" rating in a research report on Tuesday, August 5th. Finally, Mizuho upped their target price on Datadog from $145.00 to $155.00 and gave the company an "outperform" rating in a research note on Friday, August 8th. Twenty-four research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $153.10.

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.