E. Ohman J or Asset Management AB Acquires 10,670 Shares of Datadog, Inc. (NASDAQ:DDOG)

E. Ohman J or Asset Management AB increased its stake in shares of Datadog, Inc. (NASDAQ:DDOG - Free Report) by 24.7% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 53,867 shares of the company's stock after acquiring an additional 10,670 shares during the period. E. Ohman J or Asset Management AB's holdings in Datadog were worth $5,344,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Janney Montgomery Scott LLC grew its holdings in Datadog by 14.0% in the 4th quarter. Janney Montgomery Scott LLC now owns 6,214 shares of the company's stock valued at $888,000 after buying an additional 764 shares during the last quarter. Brighton Jones LLC acquired a new stake in Datadog in the 4th quarter valued at approximately $209,000. DAVENPORT & Co LLC grew its holdings in shares of Datadog by 89.0% during the 4th quarter. DAVENPORT & Co LLC now owns 3,868 shares of the company's stock worth $553,000 after purchasing an additional 1,821 shares in the last quarter. Spire Wealth Management grew its holdings in shares of Datadog by 21.4% during the 4th quarter. Spire Wealth Management now owns 453 shares of the company's stock worth $65,000 after purchasing an additional 80 shares in the last quarter. Finally, Stratos Wealth Partners LTD. grew its holdings in shares of Datadog by 6.8% during the 4th quarter. Stratos Wealth Partners LTD. now owns 3,892 shares of the company's stock worth $556,000 after purchasing an additional 248 shares in the last quarter. Institutional investors and hedge funds own 78.29% of the company's stock.

Wall Street Analysts Forecast Growth

DDOG has been the subject of several analyst reports. BTIG Research set a $136.00 target price on Datadog and gave the stock a "buy" rating in a research report on Tuesday, May 6th. Wedbush cut their target price on Datadog from $155.00 to $140.00 and set an "outperform" rating for the company in a research report on Wednesday, May 7th. Stifel Nicolaus set a $120.00 target price on Datadog in a research report on Tuesday, May 6th. Truist Financial cut their price objective on Datadog from $140.00 to $120.00 and set a "hold" rating for the company in a research report on Monday, March 31st. Finally, DA Davidson lifted their price objective on Datadog from $115.00 to $125.00 and gave the company a "buy" rating in a research report on Monday, May 5th. Seven investment analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company. According to MarketBeat.com, Datadog has a consensus rating of "Moderate Buy" and a consensus target price of $141.04.

Datadog Trading Down 0.8%

NASDAQ:DDOG traded down $0.99 on Monday, hitting $121.17. The company's stock had a trading volume of 4,809,988 shares, compared to its average volume of 4,400,599. The firm has a market capitalization of $41.85 billion, a P/E ratio of 237.59, a price-to-earnings-growth ratio of 44.03 and a beta of 1.01. Datadog, Inc. has a one year low of $81.63 and a one year high of $170.08. The stock has a fifty day moving average of $105.14 and a two-hundred day moving average of $124.32.

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, topping analysts' consensus estimates of $0.42 by $0.04. The business had revenue of $761.55 million for the quarter, compared to the consensus estimate of $741.73 million. Datadog had a return on equity of 8.28% and a net margin of 6.85%. The firm's quarterly revenue was up 24.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.44 earnings per share. As a group, sell-side analysts anticipate that Datadog, Inc. will post 0.34 EPS for the current year.

Insider Buying and Selling at Datadog

In related news, CRO Sean Michael Walters sold 8,454 shares of the firm's stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $102.04, for a total transaction of $862,646.16. Following the sale, the executive now owns 185,871 shares of the company's stock, valued at $18,966,276.84. This trade represents a 4.35% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CTO Alexis Le-Quoc sold 127,105 shares of the firm's stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $102.15, for a total value of $12,983,775.75. Following the sale, the chief technology officer now directly owns 371,865 shares in the company, valued at approximately $37,986,009.75. This trade represents a 25.47% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 728,776 shares of company stock valued at $78,705,625. 8.70% of the stock is currently owned by corporate insiders.

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.