Exchange Traded Concepts LLC Boosts Stock Position in Datadog, Inc. (NASDAQ:DDOG)

Exchange Traded Concepts LLC raised its holdings in shares of Datadog, Inc. (NASDAQ:DDOG - Free Report) by 26.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 34,217 shares of the company's stock after buying an additional 7,071 shares during the period. Exchange Traded Concepts LLC's holdings in Datadog were worth $3,395,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. grew its position in Datadog by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 30,354,229 shares of the company's stock worth $4,337,316,000 after acquiring an additional 220,527 shares during the last quarter. Baillie Gifford & Co. lifted its position in Datadog by 15.8% in the fourth quarter. Baillie Gifford & Co. now owns 10,905,133 shares of the company's stock valued at $1,558,234,000 after purchasing an additional 1,484,562 shares during the last quarter. Groupama Asset Managment boosted its stake in shares of Datadog by 407.6% during the fourth quarter. Groupama Asset Managment now owns 6,600,000 shares of the company's stock valued at $943,074,000 after purchasing an additional 5,299,688 shares during the period. Geode Capital Management LLC grew its holdings in shares of Datadog by 9.6% in the fourth quarter. Geode Capital Management LLC now owns 5,684,612 shares of the company's stock worth $811,076,000 after purchasing an additional 499,055 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA increased its stake in shares of Datadog by 16.2% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 4,476,279 shares of the company's stock worth $639,616,000 after buying an additional 625,429 shares during the period. 78.29% of the stock is owned by institutional investors.

Insider Activity

In related news, Director Shardul Shah sold 7,916 shares of the firm's stock in a transaction that occurred on Monday, June 16th. The shares were sold at an average price of $120.86, for a total value of $956,727.76. Following the transaction, the director now owns 388,205 shares of the company's stock, valued at approximately $46,918,456.30. This trade represents a 2.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, General Counsel Kerry Acocella sold 5,099 shares of the company's stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $116.84, for a total transaction of $595,767.16. Following the sale, the general counsel now directly owns 115,490 shares of the company's stock, valued at approximately $13,493,851.60. This represents a 4.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 762,966 shares of company stock valued at $85,558,325 over the last three months. Insiders own 8.70% of the company's stock.

Datadog Stock Down 1.8%

Shares of Datadog stock traded down $2.37 on Friday, reaching $127.67. The company's stock had a trading volume of 2,984,948 shares, compared to its average volume of 4,421,761. Datadog, Inc. has a 52 week low of $81.63 and a 52 week high of $170.08. The firm's fifty day simple moving average is $110.65 and its two-hundred day simple moving average is $122.84. The company has a quick ratio of 2.74, a current ratio of 2.74 and a debt-to-equity ratio of 0.34. The company has a market capitalization of $44.09 billion, a price-to-earnings ratio of 277.50, a P/E/G ratio of 72.08 and a beta of 1.01.

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

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on DDOG. Royal Bank Of Canada restated an "outperform" rating and issued a $119.00 price objective on shares of Datadog in a research report on Wednesday, May 7th. Wells Fargo & Company reduced their price target on Datadog from $140.00 to $115.00 and set an "equal weight" rating on the stock in a report on Wednesday, May 7th. 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, June 12th. Jefferies Financial Group reissued a "buy" rating on shares of Datadog in a research note on Tuesday, May 6th. Finally, Barclays raised their price target on Datadog from $125.00 to $128.00 and gave the stock an "overweight" rating in a research note on Tuesday, May 6th. Six analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $142.52.

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.