Sanders Morris Harris LLC Has $4.67 Million Position in Datadog, Inc. (NASDAQ:DDOG)

Sanders Morris Harris LLC boosted its position in Datadog, Inc. (NASDAQ:DDOG - Free Report) by 450.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 46,258 shares of the company's stock after purchasing an additional 37,847 shares during the period. Datadog comprises approximately 0.7% of Sanders Morris Harris LLC's holdings, making the stock its 22nd largest position. Sanders Morris Harris LLC's holdings in Datadog were worth $4,665,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Groupama Asset Managment raised its position in shares of 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. Janus Henderson Group PLC grew its stake in shares of Datadog by 17,477.2% during the 4th quarter. Janus Henderson Group PLC now owns 4,016,558 shares of the company's stock valued at $573,923,000 after buying an additional 3,993,707 shares during the period. Norges Bank purchased a new stake in shares of Datadog during the 4th quarter valued at $462,910,000. Jennison Associates LLC grew its stake in shares of Datadog by 47.9% during the 4th quarter. Jennison Associates LLC now owns 9,278,648 shares of the company's stock valued at $1,325,826,000 after buying an additional 3,005,300 shares during the period. Finally, Brown Advisory Inc. grew its stake in shares of Datadog by 2,804.2% during the 4th quarter. Brown Advisory Inc. now owns 2,749,174 shares of the company's stock valued at $392,830,000 after buying an additional 2,654,512 shares during the period. 78.29% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

DDOG has been the subject of several research reports. Cantor Fitzgerald reissued an "overweight" rating and set a $134.00 price objective on shares of Datadog in a research note on Wednesday, May 7th. Wells Fargo & Company decreased their price target on shares of Datadog from $140.00 to $115.00 and set an "equal weight" rating for the company in a research report on Wednesday, May 7th. Wedbush decreased their price target on shares of Datadog from $155.00 to $140.00 and set an "outperform" rating for the company in a research report on Wednesday, May 7th. UBS Group upped their price target on shares of Datadog from $120.00 to $125.00 and gave the stock a "buy" rating in a research report on Wednesday, May 7th. Finally, Morgan Stanley decreased their price target on shares of Datadog from $143.00 to $115.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 16th. Seven equities research analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $141.04.

Datadog Stock Up 2.8%

NASDAQ:DDOG traded up $3.34 on Thursday, reaching $123.04. The stock had a trading volume of 2,182,480 shares, compared to its average volume of 4,377,703. Datadog, Inc. has a 1-year low of $81.63 and a 1-year high of $170.08. The stock has a fifty day moving average price of $104.27 and a 200-day moving average price of $124.64. The company has a market capitalization of $42.49 billion, a P/E ratio of 241.26, a price-to-earnings-growth ratio of 44.03 and a beta of 1.12.

Datadog (NASDAQ:DDOG - Get Free Report) last issued its earnings results on Tuesday, May 6th. The company reported $0.46 EPS for the quarter, beating the consensus estimate of $0.42 by $0.04. Datadog had a net margin of 6.85% and a return on equity of 8.28%. The firm had revenue of $761.55 million during the quarter, compared to the consensus estimate of $741.73 million. During the same quarter in the prior year, the firm earned $0.44 earnings per share. The business's quarterly revenue was up 24.6% on a year-over-year basis. Sell-side analysts predict that Datadog, Inc. will post 0.34 earnings per share for the current fiscal year.

Insider Transactions at Datadog

In related news, COO Adam Blitzer sold 15,603 shares of the stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $116.84, for a total transaction of $1,823,054.52. Following the completion of the transaction, the chief operating officer now owns 212,969 shares in the company, valued at approximately $24,883,297.96. This represents a 6.83% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, General Counsel Kerry Acocella sold 5,099 shares of the stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $116.84, for a total transaction of $595,767.16. Following the transaction, the general counsel now owns 115,490 shares of the company's stock, valued at $13,493,851.60. The trade was a 4.23% decrease in their position. The disclosure for this sale can be found here. Insiders sold 685,288 shares of company stock valued at $72,371,258 over the last quarter. Corporate insiders own 8.70% of the company's stock.

Datadog 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.