Glynn Capital Management LLC Purchases 37,662 Shares of Datadog, Inc. (NASDAQ:DDOG)

Glynn Capital Management LLC raised its holdings in Datadog, Inc. (NASDAQ:DDOG - Free Report) by 24.8% in the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 189,499 shares of the company's stock after buying an additional 37,662 shares during the quarter. Datadog comprises 4.9% of Glynn Capital Management LLC's holdings, making the stock its 7th largest position. Glynn Capital Management LLC owned 0.06% of Datadog worth $18,800,000 as of its most recent SEC filing.

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

Datadog Stock Performance

Shares of NASDAQ:DDOG traded up $3.28 during trading on Friday, hitting $149.84. 4,923,366 shares of the company traded hands, compared to its average volume of 10,657,659. The stock has a market capitalization of $51.75 billion, a price-to-earnings ratio of 325.75, a PEG ratio of 82.40 and a beta of 1.03. The business's fifty day moving average is $130.32 and its 200-day moving average is $120.69. Datadog, Inc. has a one year low of $81.63 and a one year high of $170.08. The company has a quick ratio of 2.74, a current ratio of 2.74 and a debt-to-equity ratio of 0.34.

Datadog (NASDAQ:DDOG - Get Free Report) last posted its earnings results on Tuesday, May 6th. The company reported $0.46 EPS for the quarter, beating the consensus estimate of $0.42 by $0.04. The company had revenue of $761.55 million during 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 business's revenue was up 24.6% compared to the same quarter last year. During the same period in the prior year, the company earned $0.44 earnings per share. As a group, equities analysts predict that Datadog, Inc. will post 0.34 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have weighed in on DDOG shares. DA Davidson boosted their price objective on Datadog from $115.00 to $125.00 and gave the stock a "buy" rating in a research note on Monday, May 5th. Mizuho boosted their price objective on Datadog from $125.00 to $145.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 16th. Bank of America lifted their target price on Datadog from $150.00 to $175.00 and gave the company a "buy" rating in a research report on Monday, July 7th. Wedbush restated an "outperform" rating and issued a $140.00 target price on shares of Datadog in a research report on Wednesday, June 11th. Finally, Barclays lifted their target price on Datadog from $128.00 to $170.00 and gave the company an "overweight" rating in a research report on Monday, July 21st. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and twenty-four have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $146.79.

Insider Buying and Selling at Datadog

In other news, Director Matthew Jacobson sold 47,306 shares of the business's stock in a transaction that occurred on Wednesday, May 7th. The stock was sold at an average price of $107.40, for a total transaction of $5,080,664.40. Following the completion of the transaction, the director directly owned 25,468 shares in the company, valued at approximately $2,735,263.20. The trade was a 65.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Olivier Pomel sold 107,365 shares of the business's stock in a transaction that occurred on Monday, June 9th. The stock was sold at an average price of $121.71, for a total value of $13,067,394.15. Following the transaction, the chief executive officer owned 548,715 shares of the company's stock, valued at approximately $66,784,102.65. This represents a 16.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 957,666 shares of company stock valued at $117,576,223. 8.70% of the stock is currently owned by insiders.

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.