Pacer Advisors Inc. Boosts Stock Position in Datadog, Inc. (NASDAQ:DDOG)

Key Points

• Pacer Advisors Inc. increased its stake in Datadog, Inc. by 43.6%, acquiring an additional 29,935 shares during the 1st quarter, bringing their total holdings to 98,530 shares valued at approximately $9.77 million.
• In Q1, several institutional investors boosted their positions in Datadog, contributing to a strong overall hedge fund ownership of 78.29% of the stock.
• Datadog reported $761.55 million in revenue for the latest quarter, representing a 24.6% year-over-year increase, with earnings per share of $0.46, surpassing analysts' expectations.

Pacer Advisors Inc. raised its stake in shares of Datadog, Inc. (NASDAQ:DDOG - Free Report) by 43.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 98,530 shares of the company's stock after buying an additional 29,935 shares during the quarter. Pacer Advisors Inc.'s holdings in Datadog were worth $9,775,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC boosted 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 valued at $2,216,000 after acquiring an additional 3,760 shares during the last quarter. LBP AM SA boosted 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 last quarter. Envestnet Asset Management Inc. boosted 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 valued at $78,112,000 after acquiring an additional 156,152 shares during the last quarter. Total Wealth Planning & Management Inc. bought a new position in shares of Datadog during the 4th quarter valued at approximately $314,000. Finally, Soros Fund Management LLC boosted its position in shares of Datadog by 14.3% during the 4th quarter. Soros Fund Management LLC now owns 192,190 shares of the company's stock valued at $27,462,000 after acquiring an additional 24,100 shares during the last quarter. 78.29% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Datadog

In other Datadog news, CFO David M. Obstler sold 15,000 shares of Datadog stock in a transaction dated Thursday, July 3rd. The stock was sold at an average price of $147.43, for a total value of $2,211,450.00. Following the transaction, the chief financial officer owned 399,270 shares in the company, valued at $58,864,376.10. The trade was a 3.62% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Alexis Le-Quoc sold 41,468 shares of Datadog 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 completion of the transaction, the chief technology officer owned 452,769 shares in the company, valued at $63,057,138.63. This trade represents a 8.39% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 957,666 shares of company stock valued at $117,576,223 over the last three months. 8.70% of the stock is currently owned by corporate insiders.

Datadog Stock Up 0.6%

Shares of DDOG stock traded up $0.93 on Monday, hitting $150.77. The stock had a trading volume of 2,647,060 shares, compared to its average volume of 10,676,036. The company has a quick ratio of 2.74, a current ratio of 2.74 and a debt-to-equity ratio of 0.34. The business has a 50 day moving average price of $131.01 and a 200 day moving average price of $120.62. The company has a market cap of $52.07 billion, a PE ratio of 327.77, a P/E/G ratio of 82.40 and a beta of 1.03. Datadog, Inc. has a one year low of $81.63 and a one year high of $170.08.

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

Analyst Ratings Changes

DDOG has been the subject of a number of research reports. Wedbush reiterated an "outperform" rating and set a $140.00 target price on shares of Datadog in a research report on Wednesday, June 11th. Jefferies Financial Group restated a "buy" rating on shares of Datadog in a research report on Tuesday, May 6th. Wolfe Research upgraded Datadog from a "peer perform" rating to an "outperform" rating and set a $150.00 price target for the company in a research report on Thursday, June 12th. Wells Fargo & Company lowered their price target on Datadog from $140.00 to $115.00 and set an "equal weight" rating for the company in a research report on Wednesday, May 7th. Finally, Canaccord Genuity Group lowered their price target on Datadog from $150.00 to $145.00 and set a "buy" rating for the company in a research report on Wednesday, May 7th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and twenty-four have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target 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.