Datadog, Inc. (NASDAQ:DDOG) Holdings Raised by USA Financial Formulas

USA Financial Formulas increased its stake in Datadog, Inc. (NASDAQ:DDOG - Free Report) by 49.9% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 12,747 shares of the company's stock after acquiring an additional 4,243 shares during the period. USA Financial Formulas' holdings in Datadog were worth $1,265,000 as of its most recent SEC filing.

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

Insiders Place Their Bets

In other news, CEO Olivier Pomel sold 107,365 shares of the business's stock in a transaction on Monday, June 9th. The shares were sold at an average price of $121.71, for a total transaction of $13,067,394.15. Following the completion of the transaction, the chief executive officer now owns 548,715 shares of the company's stock, valued at approximately $66,784,102.65. The trade was a 16.36% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, General Counsel Kerry Acocella sold 5,099 shares of the business's stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $116.84, for a total transaction of $595,767.16. Following the transaction, the general counsel now directly owns 115,490 shares of the company's stock, valued at approximately $13,493,851.60. This trade represents a 4.23% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 725,582 shares of company stock valued at $80,913,097 over the last 90 days. 8.70% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. DA Davidson raised their price target on shares of Datadog from $115.00 to $125.00 and gave the company a "buy" rating in a report on Monday, May 5th. JMP Securities restated a "market perform" rating on shares of Datadog in a report on Friday, February 14th. Wedbush restated an "outperform" rating and issued a $140.00 price target on shares of Datadog in a report on Wednesday. Canaccord Genuity Group cut their price target on shares of Datadog from $150.00 to $145.00 and set a "buy" rating on the stock in a report on Wednesday, May 7th. Finally, Royal Bank of Canada reiterated an "outperform" rating and set a $119.00 price objective on shares of Datadog in a research note on Wednesday, May 7th. Six research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the stock. According to MarketBeat.com, Datadog currently has an average rating of "Moderate Buy" and a consensus target price of $142.25.

Datadog Trading Down 1.8%

Datadog stock traded down $2.23 during mid-day trading on Friday, reaching $120.45. The company's stock had a trading volume of 3,961,551 shares, compared to its average volume of 4,402,373. The firm has a market cap of $41.60 billion, a price-to-earnings ratio of 236.18, a PEG ratio of 44.03 and a beta of 1.01. The business has a 50 day moving average price of $108.01 and a 200-day moving average price of $123.35. Datadog, Inc. has a twelve month low of $81.63 and a twelve month 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 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 net margin of 6.85% and a return on equity of 8.28%. The firm's revenue was up 24.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.44 earnings per share. On average, equities analysts expect that Datadog, Inc. will post 0.34 EPS for the current fiscal year.

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.