Azzad Asset Management Inc. ADV Acquires 2,491 Shares of Datadog, Inc. (NASDAQ:DDOG)

Azzad Asset Management Inc. ADV boosted its stake in shares of Datadog, Inc. (NASDAQ:DDOG - Free Report) by 12.0% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 23,252 shares of the company's stock after purchasing an additional 2,491 shares during the quarter. Azzad Asset Management Inc. ADV's holdings in Datadog were worth $2,307,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. New England Research & Management Inc. acquired a new position in Datadog during the 1st quarter worth $476,000. Elevation Point Wealth Partners LLC acquired a new position in Datadog during the 1st quarter worth $392,000. Stanley Laman Group Ltd. acquired a new position in Datadog during the 1st quarter worth $6,072,000. Tobam boosted its position in Datadog by 3.6% during the 1st quarter. Tobam now owns 5,507 shares of the company's stock worth $546,000 after acquiring an additional 192 shares during the period. Finally, GraniteShares Advisors LLC boosted its position in Datadog by 10.0% during the 1st quarter. GraniteShares Advisors LLC now owns 5,820 shares of the company's stock worth $577,000 after acquiring an additional 527 shares during the period. Institutional investors and hedge funds own 78.29% of the company's stock.

Datadog Trading Down 1.8%

DDOG stock traded down $2.23 during mid-day trading on Friday, hitting $120.45. The stock had a trading volume of 3,961,551 shares, compared to its average volume of 4,402,373. Datadog, Inc. has a 1-year low of $81.63 and a 1-year high of $170.08. The company has a fifty day moving average of $108.01 and a 200 day moving average of $123.35. The stock has a market capitalization of $41.60 billion, a price-to-earnings ratio of 236.18, a PEG ratio of 44.03 and a beta of 1.01.

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

Wall Street Analyst Weigh In

DDOG has been the subject of several research analyst reports. Wolfe Research upgraded Datadog from a "peer perform" rating to an "outperform" rating and set a $150.00 price objective for the company in a report on Thursday. Cantor Fitzgerald restated an "overweight" rating and issued a $134.00 price objective on shares of Datadog in a report on Wednesday, May 7th. Needham & Company LLC upped their price objective on Datadog from $130.00 to $140.00 and gave the company a "buy" rating in a report on Thursday. UBS Group upped their price objective on Datadog from $125.00 to $140.00 and gave the company a "buy" rating in a report on Wednesday. Finally, Scotiabank set a $130.00 price objective on Datadog and gave the company an "outperform" rating in a report on Wednesday, May 7th. Six investment analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $142.25.

Insider Activity

In other news, CEO Olivier Pomel sold 107,365 shares of the stock in a transaction dated Monday, April 7th. The stock was sold at an average price of $87.33, for a total transaction of $9,376,185.45. Following the transaction, the chief executive officer now owns 563,598 shares of the company's stock, valued at approximately $49,219,013.34. This represents a 16.00% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Amit Agarwal sold 25,000 shares of the stock in a transaction dated Wednesday, June 11th. The shares were sold at an average price of $119.46, for a total value of $2,986,500.00. Following the transaction, the director now directly owns 54,356 shares in the company, valued at approximately $6,493,367.76. This represents a 31.50% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 725,582 shares of company stock valued at $80,913,097. Insiders own 8.70% of the company's stock.

Datadog 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.