Datadog, Inc. (NASDAQ:DDOG) Position Increased by National Pension Service

National Pension Service raised its position in shares of Datadog, Inc. (NASDAQ:DDOG - Free Report) by 11.5% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 460,312 shares of the company's stock after buying an additional 47,334 shares during the quarter. National Pension Service owned 0.13% of Datadog worth $45,668,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in Datadog by 3.5% during the first quarter. Vanguard Group Inc. now owns 31,413,032 shares of the company's stock valued at $3,116,487,000 after buying an additional 1,058,803 shares in the last quarter. Baillie Gifford & Co. lifted its stake in Datadog by 12.6% during the first quarter. Baillie Gifford & Co. now owns 12,274,655 shares of the company's stock valued at $1,217,769,000 after buying an additional 1,369,522 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in shares of Datadog by 259.7% in the first quarter. Goldman Sachs Group Inc. now owns 8,658,340 shares of the company's stock worth $858,994,000 after purchasing an additional 6,250,942 shares in the last quarter. Brown Advisory Inc. lifted its position in shares of Datadog by 76.5% in the first quarter. Brown Advisory Inc. now owns 4,853,012 shares of the company's stock worth $481,467,000 after purchasing an additional 2,103,838 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its position in shares of Datadog by 4.0% in the first quarter. Massachusetts Financial Services Co. MA now owns 4,656,379 shares of the company's stock worth $461,959,000 after purchasing an additional 180,100 shares in the last quarter. 78.29% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Sanford C. Bernstein reissued an "outperform" rating on shares of Datadog in a research report on Friday, August 8th. Wedbush reissued an "outperform" rating and issued a $140.00 price target on shares of Datadog in a research report on Wednesday, June 11th. Scotiabank reissued an "outperform" rating on shares of Datadog in a research report on Friday, August 8th. Canaccord Genuity Group increased their price target on shares of Datadog from $145.00 to $160.00 and gave the stock a "buy" rating in a research report on Friday, August 8th. Finally, Macquarie reduced their price target on shares of Datadog from $175.00 to $140.00 and set an "outperform" rating for the company in a research report on Wednesday, May 7th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and twenty-four have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $152.93.

Insider Activity

In other Datadog news, CRO Sean Michael Walters sold 9,469 shares of the business's stock in a transaction dated Thursday, July 3rd. The stock was sold at an average price of $150.00, for a total transaction of $1,420,350.00. Following the completion of the sale, the executive directly owned 212,324 shares of the company's stock, valued at approximately $31,848,600. The trade was a 4.27% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Olivier Pomel sold 32,923 shares of the business's stock in a transaction dated Monday, August 11th. The stock was sold at an average price of $130.38, for a total value of $4,292,500.74. Following the sale, the chief executive officer directly owned 548,715 shares of the company's stock, valued at $71,541,461.70. This represents a 5.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 846,051 shares of company stock worth $107,936,283. Corporate insiders own 8.70% of the company's stock.

Datadog Stock Performance

Shares of NASDAQ:DDOG opened at $124.52 on Friday. The stock has a market capitalization of $43.00 billion, a P/E ratio of 355.78, a P/E/G ratio of 61.60 and a beta of 1.02. Datadog, Inc. has a 1-year low of $81.63 and a 1-year high of $170.08. The company has a current ratio of 3.43, a quick ratio of 2.74 and a debt-to-equity ratio of 0.31. The business has a 50-day moving average price of $135.84 and a two-hundred day moving average price of $120.53.

Datadog (NASDAQ:DDOG - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The company reported $0.46 earnings per share for the quarter, topping the consensus estimate of $0.41 by $0.05. The firm had revenue of $826.76 million during the quarter, compared to analysts' expectations of $791.72 million. Datadog had a return on equity of 5.04% and a net margin of 4.13%. The company's quarterly revenue was up 28.1% compared to the same quarter last year. During the same period in the previous year, the business posted $0.43 EPS. Equities analysts predict that Datadog, Inc. will post 0.34 earnings per share for the current year.

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.

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