Heritage Investors Management Corp Purchases 46,769 Shares of Datadog, Inc. (NASDAQ:DDOG)

Heritage Investors Management Corp grew its holdings in Datadog, Inc. (NASDAQ:DDOG - Free Report) by 478.7% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 56,540 shares of the company's stock after buying an additional 46,769 shares during the quarter. Heritage Investors Management Corp's holdings in Datadog were worth $5,609,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Wealth Enhancement Advisory Services LLC increased its position in shares of Datadog by 32.0% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 15,506 shares of the company's stock worth $2,216,000 after purchasing an additional 3,760 shares during the last quarter. LBP AM SA lifted its position in shares of Datadog by 40.2% during the 1st quarter. LBP AM SA now owns 419,805 shares of the company's stock valued at $41,649,000 after acquiring an additional 120,343 shares during the period. Envestnet Asset Management Inc. lifted its position in shares of Datadog by 24.7% during the 1st quarter. Envestnet Asset Management Inc. now owns 787,344 shares of the company's stock worth $78,112,000 after buying an additional 156,152 shares during the last quarter. Total Wealth Planning & Management Inc. bought a new stake in shares of Datadog during the 4th quarter worth $314,000. Finally, Soros Fund Management LLC increased its holdings in Datadog by 14.3% in the 4th quarter. Soros Fund Management LLC now owns 192,190 shares of the company's stock worth $27,462,000 after purchasing an additional 24,100 shares in the last quarter. 78.29% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Amit Agarwal sold 25,000 shares of the firm's stock in a transaction on Wednesday, May 28th. The shares were sold at an average price of $117.02, for a total value of $2,925,500.00. Following the sale, the director directly owned 76,052 shares in the company, valued at approximately $8,899,605.04. This trade represents a 24.74% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Olivier Pomel sold 107,365 shares of the firm's stock in a transaction on Monday, June 9th. The shares were sold at an average price of $121.71, for a total transaction of $13,067,394.15. Following the completion of the sale, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 957,666 shares of company stock worth $117,576,223 in the last three months. 8.70% of the stock is currently owned by corporate insiders.

Datadog Trading Up 1.3%

NASDAQ DDOG opened at $145.02 on Friday. The company has a market capitalization of $50.08 billion, a PE ratio of 315.27, a P/E/G ratio of 79.75 and a beta of 1.03. The company has a fifty day moving average of $127.40 and a 200 day moving average of $120.60. Datadog, Inc. has a 1 year low of $81.63 and a 1 year high of $170.08. The company has a debt-to-equity ratio of 0.34, a current ratio of 2.74 and a quick ratio of 2.74.

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

Analysts Set New Price Targets

Several research analysts have issued reports on DDOG shares. Wells Fargo & Company cut 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. Mizuho raised their target price on Datadog from $125.00 to $145.00 and gave the stock an "outperform" rating in a research report on Wednesday. Barclays lifted their price objective on Datadog from $125.00 to $128.00 and gave the company an "overweight" rating in a research note on Tuesday, May 6th. Jefferies Financial Group reissued a "buy" rating on shares of Datadog in a research note on Tuesday, May 6th. Finally, Wedbush restated an "outperform" rating and set a $140.00 price target on shares of Datadog in a report on Wednesday, June 11th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and twenty-four have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $145.34.

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.

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