Quantbot Technologies LP Buys 31,607 Shares of Datadog, Inc. $DDOG

Key Points

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Quantbot Technologies LP boosted its stake in Datadog, Inc. (NASDAQ:DDOG - Free Report) by 247.7% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 44,368 shares of the company's stock after acquiring an additional 31,607 shares during the period. Quantbot Technologies LP's holdings in Datadog were worth $4,402,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in DDOG. Goldman Sachs Group Inc. raised its position in Datadog by 259.7% in the first quarter. Goldman Sachs Group Inc. now owns 8,658,340 shares of the company's stock worth $858,994,000 after acquiring an additional 6,250,942 shares during the period. Janus Henderson Group PLC raised its position in shares of Datadog by 17,477.2% in the fourth quarter. Janus Henderson Group PLC now owns 4,016,558 shares of the company's stock valued at $573,923,000 after purchasing an additional 3,993,707 shares during the period. Brown Advisory Inc. raised its position in shares of Datadog by 2,804.2% in the fourth quarter. Brown Advisory Inc. now owns 2,749,174 shares of the company's stock valued at $392,830,000 after purchasing an additional 2,654,512 shares during the period. Baillie Gifford & Co. raised its position in shares of Datadog by 12.6% in the first quarter. Baillie Gifford & Co. now owns 12,274,655 shares of the company's stock valued at $1,217,769,000 after purchasing an additional 1,369,522 shares during the period. Finally, Assenagon Asset Management S.A. raised its position in shares of Datadog by 341.0% in the first quarter. Assenagon Asset Management S.A. now owns 1,569,341 shares of the company's stock valued at $155,694,000 after purchasing an additional 1,213,475 shares during the period. Institutional investors own 78.29% of the company's stock.

Insider Buying and Selling

In related news, CEO Olivier Pomel sold 32,923 shares of the company's stock in a transaction on Monday, August 11th. The shares were sold at an average price of $130.38, for a total transaction of $4,292,500.74. Following the completion of the sale, the chief executive officer directly owned 548,715 shares in the company, valued at $71,541,461.70. This represents a 5.66% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CTO Alexis Le-Quoc sold 41,468 shares of the company's stock in a transaction on Tuesday, August 5th. The shares were sold at an average price of $134.47, for a total transaction of $5,576,201.96. Following the sale, the chief technology officer owned 452,769 shares of the company's stock, valued at $60,883,847.43. This represents a 8.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 846,051 shares of company stock worth $107,936,283 in the last ninety days. 8.70% of the stock is currently owned by insiders.

Datadog Price Performance

Shares of Datadog stock opened at $129.07 on Tuesday. Datadog, Inc. has a 52-week low of $81.63 and a 52-week high of $170.08. The stock has a market capitalization of $45.01 billion, a price-to-earnings ratio of 368.78, a price-to-earnings-growth ratio of 61.90 and a beta of 1.02. The company has a fifty day moving average of $136.10 and a 200-day moving average of $119.93. The company has a debt-to-equity ratio of 0.31, a quick ratio of 3.43 and a current ratio of 3.43.

Datadog (NASDAQ:DDOG - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The company reported $0.46 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.41 by $0.05. Datadog had a net margin of 4.13% and a return on equity of 5.04%. The company had revenue of $826.76 million during the quarter, compared to analysts' expectations of $791.72 million. During the same quarter in the prior year, the company earned $0.43 EPS. The firm's revenue was up 28.1% on a year-over-year basis. Equities research analysts expect that Datadog, Inc. will post 0.34 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. Monness Crespi & Hardt boosted their price target on shares of Datadog from $160.00 to $185.00 and gave the company a "buy" rating in a research report on Thursday, August 7th. Citigroup boosted their price target on shares of Datadog from $165.00 to $170.00 and gave the company a "buy" rating in a research report on Monday. Royal Bank Of Canada reissued an "outperform" rating and issued a $119.00 price target on shares of Datadog in a research report on Wednesday, May 7th. Wolfe Research raised shares of Datadog from a "peer perform" rating to an "outperform" rating and set a $150.00 price target on the stock in a research report on Thursday, June 12th. Finally, Wedbush reissued an "outperform" rating and issued a $140.00 price target on shares of Datadog in a research 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 given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $153.10.

About Datadog

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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