Baillie Gifford & Co. Grows Stock Holdings in Datadog, Inc. (NASDAQ:DDOG)

Key Points

• Baillie Gifford & Co. increased its stake in Datadog, Inc. by 12.6%, acquiring an additional 1,369,522 shares during the first quarter, bringing their total holdings to approximately $1.22 billion.
• Several large investors, including OVERSEA CHINESE BANKING Corp Ltd, significantly boosted their stakes in Datadog, contributing to institutional investors owning 78.29% of the company's stock.
• Wall Street analysts show a consensus "Moderate Buy" rating for Datadog, with a price target averaging $146.79, as firms adjust targets in response to market movements.

Baillie Gifford & Co. raised its stake in Datadog, Inc. (NASDAQ:DDOG - Free Report) by 12.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 12,274,655 shares of the company's stock after purchasing an additional 1,369,522 shares during the quarter. Datadog accounts for about 1.1% of Baillie Gifford & Co.'s portfolio, making the stock its 23rd biggest position. Baillie Gifford & Co. owned approximately 3.58% of Datadog worth $1,217,769,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of DDOG. OVERSEA CHINESE BANKING Corp Ltd grew its holdings in shares of Datadog by 887.0% in the first quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 25,199 shares of the company's stock valued at $25,000 after acquiring an additional 22,646 shares in the last quarter. Cornerstone Planning Group LLC grew its holdings in shares of Datadog by 96.9% in the first quarter. Cornerstone Planning Group LLC now owns 313 shares of the company's stock valued at $30,000 after acquiring an additional 154 shares in the last quarter. Putney Financial Group LLC bought a new position in shares of Datadog in the fourth quarter valued at approximately $32,000. Elequin Capital LP bought a new position in shares of Datadog in the fourth quarter valued at approximately $34,000. Finally, Opal Wealth Advisors LLC bought a new position in shares of Datadog in the first quarter valued at approximately $37,000. 78.29% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Datadog news, CTO Alexis Le-Quoc sold 41,468 shares of the firm's stock in a transaction dated Monday, July 14th. The stock was sold at an average price of $139.27, for a total transaction of $5,775,248.36. Following the sale, the chief technology officer owned 452,769 shares in the company, valued at $63,057,138.63. This trade represents a 8.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CRO Sean Michael Walters sold 9,469 shares of the firm's stock in a transaction dated Thursday, July 3rd. The shares were sold at an average price of $150.00, for a total value of $1,420,350.00. Following the sale, the executive owned 212,324 shares in the company, valued at $31,848,600. The trade was a 4.27% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 957,666 shares of company stock valued at $117,576,223 in the last ninety days. 8.70% of the stock is owned by insiders.

Datadog Price Performance

Shares of DDOG stock traded up $3.28 on Friday, reaching $149.84. The company's stock had a trading volume of 4,923,366 shares, compared to its average volume of 10,657,659. The company has a quick ratio of 2.74, a current ratio of 2.74 and a debt-to-equity ratio of 0.34. Datadog, Inc. has a 12-month low of $81.63 and a 12-month high of $170.08. The company has a market capitalization of $51.75 billion, a P/E ratio of 325.75, a PEG ratio of 82.40 and a beta of 1.03. The stock's 50 day simple moving average is $130.32 and its 200-day simple moving average is $120.69.

Datadog (NASDAQ:DDOG - Get Free Report) last issued its quarterly earnings data on Tuesday, May 6th. The company reported $0.46 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.42 by $0.04. Datadog had a return on equity of 6.39% and a net margin of 5.85%. The company had revenue of $761.55 million for the quarter, compared to the consensus estimate of $741.73 million. During the same quarter last year, the business posted $0.44 earnings per share. The firm's revenue was up 24.6% compared to the same quarter last year. As a group, equities analysts predict that Datadog, Inc. will post 0.34 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms have recently issued reports on DDOG. Canaccord Genuity Group reduced their target price on Datadog from $150.00 to $145.00 and set a "buy" rating for the company in a report on Wednesday, May 7th. Wells Fargo & Company reduced their target price on Datadog from $140.00 to $115.00 and set an "equal weight" rating for the company in a report on Wednesday, May 7th. Jefferies Financial Group reaffirmed a "buy" rating on shares of Datadog in a report on Tuesday, May 6th. Guggenheim reaffirmed a "sell" rating and issued a $105.00 target price on shares of Datadog in a report on Tuesday, July 8th. Finally, Truist Financial reduced their price objective on Datadog from $140.00 to $120.00 and set a "hold" rating for the company in a report on Monday, March 31st. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and twenty-four have issued a buy rating to the stock. According to data from MarketBeat, Datadog has a consensus rating of "Moderate Buy" and an average price target of $146.79.

About Datadog

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.