Massachusetts Financial Services Co. MA Raises Holdings in Datadog, Inc. (NASDAQ:DDOG)

Massachusetts Financial Services Co. MA increased its holdings in Datadog, Inc. (NASDAQ:DDOG - Free Report) by 4.0% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,656,379 shares of the company's stock after acquiring an additional 180,100 shares during the quarter. Massachusetts Financial Services Co. MA owned about 1.36% of Datadog worth $461,959,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in DDOG. Farther Finance Advisors LLC increased its position in shares of Datadog by 5.2% during the 4th quarter. Farther Finance Advisors LLC now owns 1,853 shares of the company's stock valued at $265,000 after purchasing an additional 92 shares during the last quarter. Emerald Advisers LLC increased its position in shares of Datadog by 1.1% during the 1st quarter. Emerald Advisers LLC now owns 9,300 shares of the company's stock valued at $923,000 after purchasing an additional 97 shares during the last quarter. YANKCOM Partnership increased its position in shares of Datadog by 12.0% during the 1st quarter. YANKCOM Partnership now owns 927 shares of the company's stock valued at $92,000 after purchasing an additional 99 shares during the last quarter. SageView Advisory Group LLC increased its position in shares of Datadog by 4.9% during the 4th quarter. SageView Advisory Group LLC now owns 2,176 shares of the company's stock valued at $311,000 after purchasing an additional 101 shares during the last quarter. Finally, Corient Private Wealth LLC increased its position in shares of Datadog by 0.9% during the 4th quarter. Corient Private Wealth LLC now owns 13,118 shares of the company's stock valued at $1,874,000 after purchasing an additional 115 shares during the last quarter. Hedge funds and other institutional investors own 78.29% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on DDOG. Canaccord Genuity Group decreased their price objective on Datadog from $150.00 to $145.00 and set a "buy" rating for the company in a research note on Wednesday, May 7th. Guggenheim reissued a "sell" rating and issued a $105.00 price objective on shares of Datadog in a report on Tuesday, July 8th. DA Davidson raised their target price on Datadog from $115.00 to $125.00 and gave the stock a "buy" rating in a report on Monday, May 5th. Needham & Company LLC set a $140.00 target price on Datadog and gave the stock a "buy" rating in a report on Thursday, June 12th. Finally, Truist Financial dropped their target price on Datadog from $140.00 to $120.00 and set a "hold" rating on the stock in a report on Monday, March 31st. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and twenty-five have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $144.27.

Insider Transactions at Datadog

In other news, Director Amit Agarwal sold 23,058 shares of the stock in a transaction that occurred on Wednesday, June 25th. The stock was sold at an average price of $130.87, for a total transaction of $3,017,600.46. Following the completion of the transaction, the director directly owned 31,298 shares of the company's stock, valued at approximately $4,095,969.26. This represents a 42.42% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CRO Sean Michael Walters sold 9,469 shares of the stock in a transaction that occurred on 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 transaction, the executive directly owned 212,324 shares of the company's stock, valued at approximately $31,848,600. This trade represents a 4.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 866,806 shares of company stock worth $104,910,027. Insiders own 8.70% of the company's stock.

Datadog Stock Performance

Shares of NASDAQ DDOG traded up $1.76 during trading hours on Tuesday, reaching $140.56. The stock had a trading volume of 4,949,871 shares, compared to its average volume of 5,008,265. The firm has a market cap of $48.54 billion, a price-to-earnings ratio of 305.57, a PEG ratio of 75.99 and a beta of 1.03. The company has a current ratio of 2.74, a quick ratio of 2.74 and a debt-to-equity ratio of 0.34. Datadog, Inc. has a fifty-two week low of $81.63 and a fifty-two week high of $170.08. The firm has a 50-day moving average of $124.63 and a 200-day moving average of $120.48.

Datadog (NASDAQ:DDOG - Get Free Report) last announced its earnings results on Tuesday, May 6th. The company reported $0.46 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.42 by $0.04. The firm had revenue of $761.55 million during the quarter, compared to analysts' expectations 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% on a year-over-year basis. During the same period in the prior year, the firm earned $0.44 EPS. Equities research analysts predict that Datadog, Inc. will post 0.34 earnings per share for the current year.

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.