Datadog, Inc. (NASDAQ:DDOG) Stock Holdings Lifted by Edgestream Partners L.P.

Edgestream Partners L.P. increased its position in shares of Datadog, Inc. (NASDAQ:DDOG - Free Report) by 1,088.6% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 48,531 shares of the company's stock after acquiring an additional 44,448 shares during the quarter. Edgestream Partners L.P.'s holdings in Datadog were worth $4,815,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC raised its stake in Datadog by 32.0% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 15,506 shares of the company's stock worth $2,216,000 after purchasing an additional 3,760 shares during the period. LBP AM SA raised its stake in Datadog by 40.2% during the first quarter. LBP AM SA now owns 419,805 shares of the company's stock worth $41,649,000 after purchasing an additional 120,343 shares during the period. Berkshire Capital Holdings Inc. raised its stake in Datadog by 731,900.0% during the fourth quarter. Berkshire Capital Holdings Inc. now owns 73,200 shares of the company's stock worth $10,460,000 after purchasing an additional 73,190 shares during the period. Envestnet Asset Management Inc. raised its stake in shares of Datadog by 24.7% in the 1st quarter. Envestnet Asset Management Inc. now owns 787,344 shares of the company's stock valued at $78,112,000 after acquiring an additional 156,152 shares during the period. Finally, Total Wealth Planning & Management Inc. purchased a new position in shares of Datadog in the 4th quarter valued at $314,000. Institutional investors and hedge funds own 78.29% of the company's stock.

Datadog Stock Performance

Shares of NASDAQ DDOG traded up $1.72 during midday trading on Friday, hitting $144.87. The company's stock had a trading volume of 989,229 shares, compared to its average volume of 4,990,042. The company has a debt-to-equity ratio of 0.34, a quick ratio of 2.74 and a current ratio of 2.74. The firm's fifty day moving average price is $126.66 and its 200-day moving average price is $120.74. The firm has a market cap of $50.03 billion, a P/E ratio of 314.89, a P/E/G ratio of 76.64 and a beta of 1.03. Datadog, Inc. has a 1-year low of $81.63 and a 1-year high of $170.08.

Datadog (NASDAQ:DDOG - Get Free Report) last posted its earnings results on Tuesday, May 6th. The company reported $0.46 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.42 by $0.04. The firm had revenue of $761.55 million during the quarter, compared to analyst estimates of $741.73 million. Datadog had a net margin of 5.85% and a return on equity of 6.39%. Datadog's revenue was up 24.6% on a year-over-year basis. During the same period in the previous year, the business posted $0.44 EPS. On average, sell-side analysts forecast that Datadog, Inc. will post 0.34 EPS for the current fiscal year.

Insider Activity at Datadog

In related news, CFO David M. Obstler sold 15,000 shares of the business's stock in a transaction that occurred on Thursday, July 3rd. The shares were sold at an average price of $147.43, for a total value of $2,211,450.00. Following the sale, the chief financial officer directly owned 399,270 shares in the company, valued at $58,864,376.10. The trade was a 3.62% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Shardul Shah sold 7,924 shares of the business's stock in a transaction that occurred on Tuesday, July 15th. The stock was sold at an average price of $140.80, for a total transaction of $1,115,699.20. Following the completion of the sale, the director owned 380,281 shares in the company, valued at $53,543,564.80. The trade was a 2.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 957,666 shares of company stock worth $117,576,223 in the last three months. Insiders own 8.70% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Macquarie cut their target price on shares of Datadog from $175.00 to $140.00 and set an "outperform" rating on the stock in a research note on Wednesday, May 7th. Scotiabank set a $130.00 target price on shares of Datadog and gave the company an "outperform" rating in a research note on Wednesday, May 7th. Bank of America raised their target price on shares of Datadog from $150.00 to $175.00 and gave the company a "buy" rating in a research note on Monday, July 7th. Truist Financial cut their target price on shares of Datadog from $140.00 to $120.00 and set a "hold" rating on the stock in a research note on Monday, March 31st. Finally, Wedbush reissued an "outperform" rating and issued a $140.00 target price on shares of Datadog in a research note on Wednesday, June 11th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and twenty-four have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $145.34.

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.