SG Americas Securities LLC Increases Stake in Datadog, Inc. (NASDAQ:DDOG)

SG Americas Securities LLC grew its stake in shares of Datadog, Inc. (NASDAQ:DDOG - Free Report) by 3,533.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 667,537 shares of the company's stock after acquiring an additional 649,165 shares during the quarter. SG Americas Securities LLC owned about 0.19% of Datadog worth $66,226,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Putney Financial Group LLC purchased a new stake in Datadog in the fourth quarter valued at approximately $32,000. Elequin Capital LP purchased a new stake in Datadog in the fourth quarter valued at approximately $34,000. MassMutual Private Wealth & Trust FSB boosted its position in Datadog by 74.0% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 381 shares of the company's stock valued at $38,000 after buying an additional 162 shares during the last quarter. Coppell Advisory Solutions LLC boosted its position in Datadog by 178.8% in the fourth quarter. Coppell Advisory Solutions LLC now owns 276 shares of the company's stock valued at $40,000 after buying an additional 177 shares during the last quarter. Finally, Summit Securities Group LLC purchased a new stake in Datadog in the fourth quarter valued at approximately $43,000. Institutional investors and hedge funds own 78.29% of the company's stock.

Insider Buying and Selling

In related news, Director Shardul Shah sold 23,748 shares of the firm's stock in a transaction dated Wednesday, June 4th. The stock was sold at an average price of $120.00, for a total transaction of $2,849,760.00. Following the completion of the transaction, the director now directly owns 396,121 shares in the company, valued at $47,534,520. This trade represents a 5.66% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, General Counsel Kerry Acocella sold 5,099 shares of the firm's stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $116.84, for a total value 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. This trade represents a 4.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 700,582 shares of company stock valued at $77,926,597. 8.70% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of brokerages recently commented on DDOG. Macquarie dropped their target price on Datadog from $175.00 to $140.00 and set an "outperform" rating on the stock in a research report on Wednesday, May 7th. Canaccord Genuity Group lowered their price objective on Datadog from $150.00 to $145.00 and set a "buy" rating on the stock in a research report on Wednesday, May 7th. UBS Group upped their price objective on Datadog from $125.00 to $140.00 and gave the stock a "buy" rating in a research report on Wednesday. JMP Securities restated a "market perform" rating on shares of Datadog in a research report on Friday, February 14th. Finally, Rosenblatt Securities lowered their price objective on Datadog from $160.00 to $150.00 and set a "buy" rating on the stock in a research report on Monday, May 5th. Seven equities research analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $141.59.

Datadog Stock Down 1.1%

Shares of DDOG traded down $1.28 during midday trading on Wednesday, reaching $118.63. The company had a trading volume of 3,480,179 shares, compared to its average volume of 4,405,373. Datadog, Inc. has a 1-year low of $81.63 and a 1-year high of $170.08. The stock has a market cap of $40.97 billion, a PE ratio of 232.61, a price-to-earnings-growth ratio of 44.03 and a beta of 1.01. The firm has a 50 day simple moving average of $106.04 and a 200-day simple moving average of $124.06.

Datadog (NASDAQ:DDOG - Get Free Report) last issued 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 during the quarter, compared to the consensus estimate of $741.73 million. Datadog had a return on equity of 8.28% and a net margin of 6.85%. The company's quarterly revenue was up 24.6% on a year-over-year basis. During the same period last year, the company earned $0.44 EPS. As a group, sell-side analysts anticipate that Datadog, Inc. will post 0.34 earnings per share for the current fiscal year.

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.