Legato Capital Management LLC Boosts Stock Position in Datadog, Inc. (NASDAQ:DDOG)

Legato Capital Management LLC grew its position in Datadog, Inc. (NASDAQ:DDOG - Free Report) by 111.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 27,500 shares of the company's stock after purchasing an additional 14,500 shares during the period. Legato Capital Management LLC's holdings in Datadog were worth $2,728,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. lifted its position in shares of Datadog by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 30,354,229 shares of the company's stock worth $4,337,316,000 after buying an additional 220,527 shares during the period. Groupama Asset Managment lifted its holdings in Datadog by 407.6% during the 4th quarter. Groupama Asset Managment now owns 6,600,000 shares of the company's stock worth $943,074,000 after purchasing an additional 5,299,688 shares during the last quarter. Geode Capital Management LLC raised its holdings in Datadog by 9.6% in the 4th quarter. Geode Capital Management LLC now owns 5,684,612 shares of the company's stock valued at $811,076,000 after acquiring an additional 499,055 shares in the last quarter. Brown Advisory Inc. raised its holdings in Datadog by 76.5% in the 1st quarter. Brown Advisory Inc. now owns 4,853,012 shares of the company's stock valued at $481,467,000 after acquiring an additional 2,103,838 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA raised its holdings in shares of Datadog by 4.0% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 4,656,379 shares of the company's stock worth $461,959,000 after buying an additional 180,100 shares in the last quarter. 78.29% of the stock is owned by institutional investors and hedge funds.

Datadog Stock Performance

NASDAQ:DDOG opened at $144.89 on Wednesday. The stock has a market cap of $50.04 billion, a P/E ratio of 314.99, a PEG ratio of 79.89 and a beta of 1.03. 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. The firm has a 50-day moving average of $127.40 and a two-hundred day moving average of $120.44.

Datadog (NASDAQ:DDOG - Get Free Report) last announced its quarterly earnings data 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 firm had revenue of $761.55 million for the quarter, compared to the consensus estimate of $741.73 million. Datadog had a net margin of 5.85% and a return on equity of 6.39%. The business's revenue for the quarter was up 24.6% on a year-over-year basis. During the same period in the prior year, the company posted $0.44 earnings per share. On average, research analysts expect that Datadog, Inc. will post 0.34 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CTO Alexis Le-Quoc sold 41,468 shares of the company's stock in a transaction dated Monday, July 14th. The shares were sold at an average price of $139.27, for a total value of $5,775,248.36. Following the sale, the chief technology officer directly owned 452,769 shares of the company's stock, valued at $63,057,138.63. This represents a 8.39% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CRO Sean Michael Walters sold 9,469 shares of the business's stock in a transaction dated Thursday, July 3rd. The stock was sold at an average price of $150.00, for a total value of $1,420,350.00. Following the sale, the executive owned 212,324 shares in the company, valued at $31,848,600. The trade was a 4.27% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 957,666 shares of company stock worth $117,576,223. 8.70% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. Royal Bank Of Canada reissued an "outperform" rating and issued a $119.00 price objective on shares of Datadog in a research note on Wednesday, May 7th. Wolfe Research raised Datadog from a "peer perform" rating to an "outperform" rating and set a $150.00 target price for the company in a report on Thursday, June 12th. Rosenblatt Securities reduced their price objective on Datadog from $160.00 to $150.00 and set a "buy" rating for the company in a report on Monday, May 5th. Needham & Company LLC set a $140.00 price objective on Datadog and gave the company a "buy" rating in a report on Thursday, June 12th. Finally, Morgan Stanley raised their price target on Datadog from $115.00 to $165.00 and gave the company an "equal weight" rating in a research report on Thursday, July 10th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and twenty-four have given a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $146.79.

Datadog Company 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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