Stanley Laman Group Ltd. Purchases New Holdings in Datadog, Inc. (NASDAQ:DDOG)

Stanley Laman Group Ltd. bought a new position in shares of Datadog, Inc. (NASDAQ:DDOG - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 61,207 shares of the company's stock, valued at approximately $6,072,000. Datadog comprises 0.9% of Stanley Laman Group Ltd.'s holdings, making the stock its 18th biggest position.

Several other hedge funds have also recently bought and sold shares of the business. Wealth Enhancement Advisory Services LLC grew its position in Datadog by 32.0% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 15,506 shares of the company's stock worth $2,216,000 after buying an additional 3,760 shares in the last quarter. Proficio Capital Partners LLC acquired a new stake in Datadog during the 4th quarter valued at $14,884,000. ARK Investment Management LLC increased its holdings in Datadog by 62.7% during the 4th quarter. ARK Investment Management LLC now owns 127,290 shares of the company's stock valued at $18,188,000 after purchasing an additional 49,050 shares in the last quarter. Y Intercept Hong Kong Ltd increased its holdings in Datadog by 140.1% during the 4th quarter. Y Intercept Hong Kong Ltd now owns 53,116 shares of the company's stock valued at $7,590,000 after purchasing an additional 30,998 shares in the last quarter. Finally, Baillie Gifford & Co. increased its holdings in Datadog by 15.8% during the 4th quarter. Baillie Gifford & Co. now owns 10,905,133 shares of the company's stock valued at $1,558,234,000 after purchasing an additional 1,484,562 shares in the last quarter. 78.29% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, General Counsel Kerry Acocella sold 5,099 shares of the firm's 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 completion of the transaction, the general counsel now directly owns 115,490 shares in the company, valued at $13,493,851.60. This trade represents a 4.23% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Amit Agarwal sold 25,000 shares of the firm's stock in a transaction on Wednesday, June 11th. The stock was sold at an average price of $119.46, for a total value of $2,986,500.00. Following the transaction, the director now owns 54,356 shares of the company's stock, valued at approximately $6,493,367.76. This represents a 31.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 725,582 shares of company stock valued at $80,913,097. 8.70% of the stock is owned by company insiders.

Datadog Stock Performance

DDOG stock traded down $2.23 on Friday, hitting $120.45. 3,961,551 shares of the company's stock were exchanged, compared to its average volume of 4,402,373. The firm has a 50 day moving average price of $108.01 and a two-hundred day moving average price of $123.15. The stock has a market cap of $41.60 billion, a P/E ratio of 236.18, a price-to-earnings-growth ratio of 44.03 and a beta of 1.01. Datadog, Inc. has a 12-month low of $81.63 and a 12-month high of $170.08.

Datadog (NASDAQ:DDOG - Get Free Report) last posted its quarterly earnings results 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 business had revenue of $761.55 million for 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% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.44 EPS. Sell-side analysts expect that Datadog, Inc. will post 0.34 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. Stifel Nicolaus set a $120.00 target price on Datadog in a research note on Tuesday, May 6th. Morgan Stanley cut their price target on Datadog from $143.00 to $115.00 and set an "equal weight" rating on the stock in a report on Wednesday, April 16th. Rosenblatt Securities dropped their target price on Datadog from $160.00 to $150.00 and set a "buy" rating on the stock in a report on Monday, May 5th. Wells Fargo & Company dropped their target price on Datadog from $140.00 to $115.00 and set an "equal weight" rating on the stock in a report on Wednesday, May 7th. Finally, DA Davidson upped their price objective on Datadog from $115.00 to $125.00 and gave the company a "buy" rating in a research note on Monday, May 5th. Six research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company's stock. Based on data from MarketBeat, Datadog presently has a consensus rating of "Moderate Buy" and an average price target of $142.25.

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.