DAVENPORT & Co LLC Raises Stock Holdings in Datadog, Inc. (NASDAQ:DDOG)

DAVENPORT & Co LLC grew its position in shares of Datadog, Inc. (NASDAQ:DDOG - Free Report) by 56.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,058 shares of the company's stock after purchasing an additional 2,190 shares during the period. DAVENPORT & Co LLC's holdings in Datadog were worth $601,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Putney Financial Group LLC purchased a new position in shares of Datadog during the fourth quarter valued at about $32,000. Elequin Capital LP bought a new stake in Datadog during the fourth quarter worth approximately $34,000. Coppell Advisory Solutions LLC increased its stake in Datadog by 178.8% during the fourth quarter. Coppell Advisory Solutions LLC now owns 276 shares of the company's stock worth $40,000 after acquiring an additional 177 shares during the last quarter. Summit Securities Group LLC bought a new stake in Datadog during the fourth quarter worth approximately $43,000. Finally, Itau Unibanco Holding S.A. increased its stake in Datadog by 417.7% during the fourth quarter. Itau Unibanco Holding S.A. now owns 321 shares of the company's stock worth $46,000 after acquiring an additional 259 shares during the last quarter. Hedge funds and other institutional investors own 78.29% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on DDOG shares. Royal Bank Of Canada reissued an "outperform" rating and set a $119.00 price objective on shares of Datadog in a research note on Wednesday, May 7th. Rosenblatt Securities reduced their price objective on Datadog from $160.00 to $150.00 and set a "buy" rating on the stock in a research note on Monday, May 5th. Macquarie dropped their target price on Datadog from $175.00 to $140.00 and set an "outperform" rating for the company in a research report on Wednesday, May 7th. Wolfe Research raised Datadog from a "peer perform" rating to an "outperform" rating and set a $150.00 target price on the stock in a research note on Thursday, June 12th. Finally, Bank of America upped their target price on Datadog from $150.00 to $175.00 and gave the company a "buy" rating in a research note on Monday. Six research analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $143.90.

Datadog Stock Down 1.8%

NASDAQ DDOG traded down $2.74 during midday trading on Monday, hitting $152.41. 16,213,206 shares of the company traded hands, compared to its average volume of 4,600,027. The company has a debt-to-equity ratio of 0.34, a current ratio of 2.74 and a quick ratio of 2.74. The company has a market cap of $52.63 billion, a PE ratio of 331.33, a price-to-earnings-growth ratio of 85.83 and a beta of 1.03. The company's 50-day simple moving average is $120.00 and its 200-day simple moving average is $120.71. Datadog, Inc. has a 52 week low of $81.63 and a 52 week high of $170.08.

Datadog (NASDAQ:DDOG - Get Free Report) last announced its 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. Datadog had a return on equity of 6.39% and a net margin of 5.85%. The business had revenue of $761.55 million for the quarter, compared to analysts' expectations of $741.73 million. During the same quarter last year, the firm earned $0.44 EPS. The business's revenue for the quarter was up 24.6% on a year-over-year basis. As a group, equities research analysts forecast that Datadog, Inc. will post 0.34 earnings per share for the current year.

Insider Activity

In other news, CFO David M. Obstler sold 15,000 shares of the stock in a transaction on Wednesday, June 18th. The stock was sold at an average price of $130.25, for a total transaction of $1,953,750.00. Following the completion of the sale, the chief financial officer owned 399,270 shares in the company, valued at approximately $52,004,917.50. This represents a 3.62% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Olivier Pomel sold 100,754 shares of the stock in a transaction on Wednesday, June 25th. The shares were sold at an average price of $131.88, for a total value of $13,287,437.52. Following the sale, the chief executive officer owned 548,715 shares of the company's stock, valued at approximately $72,364,534.20. This represents a 15.51% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 794,413 shares of company stock worth $94,440,927. Company insiders own 8.70% of the company's stock.

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.