Allen Investment Management LLC Has $20.28 Million Position in Datadog, Inc. (NASDAQ:DDOG)

Key Points

• Allen Investment Management LLC increased its stake in Datadog, Inc. by 15.1%, owning a total of 204,366 shares valued at $20.3 million as of the latest reporting period.
• Datadog's stock opened at $149.84 and has a market capitalization of $51.75 billion, with a year range between $81.63 and $170.08.
• The company reported stronger-than-expected earnings with $0.46 EPS, surpassing estimates and reflecting a revenue increase of 24.6% year-over-year.

Allen Investment Management LLC boosted its holdings in shares of Datadog, Inc. (NASDAQ:DDOG - Free Report) by 15.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 204,366 shares of the company's stock after acquiring an additional 26,851 shares during the period. Allen Investment Management LLC owned about 0.06% of Datadog worth $20,275,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. OVERSEA CHINESE BANKING Corp Ltd lifted its position in Datadog by 887.0% during the 1st quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 25,199 shares of the company's stock worth $25,000 after acquiring an additional 22,646 shares during the period. Cornerstone Planning Group LLC grew its stake in shares of Datadog by 96.9% during the 1st quarter. Cornerstone Planning Group LLC now owns 313 shares of the company's stock worth $30,000 after purchasing an additional 154 shares during the period. Putney Financial Group LLC purchased a new position in shares of Datadog during the 4th quarter valued at approximately $32,000. Elequin Capital LP purchased a new position in shares of Datadog during the 4th quarter valued at approximately $34,000. Finally, Opal Wealth Advisors LLC acquired a new position in shares of Datadog in the 1st quarter valued at $37,000. 78.29% of the stock is currently owned by institutional investors.

Datadog Stock Up 0.6%

NASDAQ:DDOG traded up $0.93 on Monday, hitting $150.77. 2,647,060 shares of the company's stock traded hands, compared to its average volume of 10,676,036. The company has a market cap of $52.07 billion, a PE ratio of 305.80, a price-to-earnings-growth ratio of 82.40 and a beta of 1.03. The firm has a 50-day moving average price of $130.32 and a 200-day moving average price of $120.54. 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 2.74, a quick ratio of 2.74 and a debt-to-equity ratio of 0.34.

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

Insider Buying and Selling

In related news, CEO Olivier Pomel sold 107,365 shares of the business's stock in a transaction that occurred on Monday, June 9th. The shares were sold at an average price of $121.71, for a total value of $13,067,394.15. Following the completion of the transaction, the chief executive officer owned 548,715 shares in the company, valued at $66,784,102.65. The trade was a 16.36% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Amit Agarwal sold 25,000 shares of Datadog stock in a transaction dated Wednesday, May 28th. The stock was sold at an average price of $117.02, for a total value of $2,925,500.00. Following the completion of the sale, the director owned 76,052 shares of the company's stock, valued at approximately $8,899,605.04. The trade was a 24.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 957,666 shares of company stock valued at $117,576,223. Insiders own 8.70% of the company's stock.

Analyst Ratings Changes

A number of analysts have recently commented on DDOG shares. Morgan Stanley boosted their price objective on Datadog from $115.00 to $165.00 and gave the company an "equal weight" rating in a research report on Thursday, July 10th. Rosenblatt Securities dropped their target price on shares of Datadog from $160.00 to $150.00 and set a "buy" rating on the stock in a research report on Monday, May 5th. Wedbush reissued an "outperform" rating and issued a $140.00 price objective on shares of Datadog in a research note on Wednesday, June 11th. Scotiabank set a $130.00 price target on shares of Datadog and gave the stock an "outperform" rating in a research note on Wednesday, May 7th. Finally, DA Davidson upped their price target on Datadog from $115.00 to $125.00 and gave the company a "buy" rating in a research report on Monday, May 5th. One analyst has rated the stock with a sell rating, five have given a hold rating and twenty-four have assigned a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $146.79.

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.