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Krane Funds Advisors LLC Boosts Stake in Datadog, Inc. (NASDAQ:DDOG)

Datadog logo with Computer and Technology background

Krane Funds Advisors LLC lifted its stake in shares of Datadog, Inc. (NASDAQ:DDOG - Free Report) by 121.3% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,881 shares of the company's stock after buying an additional 2,127 shares during the period. Krane Funds Advisors LLC's holdings in Datadog were worth $385,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in DDOG. Keybank National Association OH raised its stake in Datadog by 36.6% in the 1st quarter. Keybank National Association OH now owns 13,323 shares of the company's stock worth $1,322,000 after acquiring an additional 3,567 shares during the last quarter. DAVENPORT & Co LLC increased its holdings in shares of Datadog by 56.6% in the first quarter. DAVENPORT & Co LLC now owns 6,058 shares of the company's stock valued at $601,000 after purchasing an additional 2,190 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd raised its stake in shares of Datadog by 21.3% in the first quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 76,588 shares of the company's stock worth $7,598,000 after purchasing an additional 13,474 shares during the last quarter. Vontobel Holding Ltd. lifted its holdings in shares of Datadog by 13.7% during the first quarter. Vontobel Holding Ltd. now owns 189,683 shares of the company's stock worth $18,818,000 after purchasing an additional 22,885 shares during the period. Finally, J.Safra Asset Management Corp boosted its position in Datadog by 71.1% in the first quarter. J.Safra Asset Management Corp now owns 1,682 shares of the company's stock valued at $167,000 after buying an additional 699 shares during the last quarter. 78.29% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Datadog

In other news, Director Matthew Jacobson sold 47,306 shares of the business's stock in a transaction dated Wednesday, May 7th. The shares were sold at an average price of $107.40, for a total transaction of $5,080,664.40. Following the transaction, the director owned 25,468 shares of the company's stock, valued at approximately $2,735,263.20. The trade was a 65.00% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO David M. Obstler sold 35,016 shares of the firm's stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $117.40, for a total transaction of $4,110,878.40. Following the sale, the chief financial officer owned 399,270 shares of the company's stock, valued at approximately $46,874,298. The trade was a 8.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 901,778 shares of company stock worth $103,817,113. 8.70% of the stock is owned by company insiders.

Datadog Price Performance

Shares of DDOG traded up $2.68 during trading hours on Wednesday, hitting $135.01. 4,422,220 shares of the stock were exchanged, compared to its average volume of 4,425,624. The stock's 50-day moving average price is $116.99 and its two-hundred day moving average price is $121.01. Datadog, Inc. has a 12-month low of $81.63 and a 12-month high of $170.08. The company has a debt-to-equity ratio of 0.34, a quick ratio of 2.74 and a current ratio of 2.74. The company has a market cap of $46.63 billion, a price-to-earnings ratio of 293.51, a price-to-earnings-growth ratio of 74.31 and a beta of 1.03.

Datadog (NASDAQ:DDOG - Get Free Report) last released its 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 during the quarter, compared to analyst estimates of $741.73 million. Datadog had a net margin of 5.85% and a return on equity of 6.39%. The company's revenue for the quarter was up 24.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.44 earnings per share. Research analysts expect that Datadog, Inc. will post 0.34 earnings per share for the current year.

Wall Street Analyst Weigh In

DDOG has been the subject of several research reports. Wolfe Research upgraded shares of Datadog from a "peer perform" rating to an "outperform" rating and set a $150.00 price objective for the company in a research note on Thursday, June 12th. Truist Financial decreased their target price on shares of Datadog from $140.00 to $120.00 and set a "hold" rating for the company in a research report on Monday, March 31st. Bank of America upped their price target on shares of Datadog from $138.00 to $150.00 and gave the company a "buy" rating in a report on Wednesday, June 18th. Scotiabank set a $130.00 price objective on Datadog and gave the company an "outperform" rating in a research note on Wednesday, May 7th. Finally, Jefferies Financial Group restated a "buy" rating on shares of Datadog in a research note on Tuesday, May 6th. Six research analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $143.03.

Read Our Latest Analysis on DDOG

About Datadog

(Free Report)

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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Institutional Ownership by Quarter for Datadog (NASDAQ:DDOG)

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