Vanguard Group Inc. Acquires 1,058,803 Shares of Datadog, Inc. (NASDAQ:DDOG)

Key Points

• Vanguard Group Inc. has increased its stock position in Datadog, Inc. by 3.5% during the first quarter, owning approximately 31.4 million shares worth over $3.1 billion.
• Several large institutional investors have also increased their stakes in Datadog, with 78.29% of the stock currently owned by institutional investors.
• Datadog reported a quarterly revenue of $826.76 million, exceeding analyst estimates and marking a 28.1% increase year-over-year.

Vanguard Group Inc. lifted its stake in shares of Datadog, Inc. (NASDAQ:DDOG - Free Report) by 3.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 31,413,032 shares of the company's stock after purchasing an additional 1,058,803 shares during the quarter. Vanguard Group Inc. owned about 9.16% of Datadog worth $3,116,487,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Goldman Sachs Group Inc. raised its stake in shares of Datadog by 259.7% during the first quarter. Goldman Sachs Group Inc. now owns 8,658,340 shares of the company's stock valued at $858,994,000 after acquiring an additional 6,250,942 shares during the last quarter. Janus Henderson Group PLC increased its holdings in Datadog by 17,477.2% in the 4th quarter. Janus Henderson Group PLC now owns 4,016,558 shares of the company's stock valued at $573,923,000 after acquiring an additional 3,993,707 shares during the last quarter. Brown Advisory Inc. grew its stake in shares of Datadog by 2,804.2% in the 4th quarter. Brown Advisory Inc. now owns 2,749,174 shares of the company's stock worth $392,830,000 after buying an additional 2,654,512 shares in the last quarter. Baillie Gifford & Co. boosted its stake in shares of Datadog by 12.6% during the 1st quarter. Baillie Gifford & Co. now owns 12,274,655 shares of the company's stock worth $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 Datadog by 341.0% during the 1st 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 in the last quarter. Institutional investors own 78.29% of the company's stock.

Wall Street Analyst Weigh In

DDOG has been the topic of a number of recent analyst reports. Wells Fargo & Company cut their price target on shares of Datadog from $140.00 to $115.00 and set an "equal weight" rating on the stock in a research note on Wednesday, May 7th. Wedbush reiterated an "outperform" rating and set a $140.00 price target on shares of Datadog in a research report on Wednesday, June 11th. Jefferies Financial Group set a $160.00 price objective on shares of Datadog and gave the stock a "buy" rating in a research report on Monday, August 4th. Cantor Fitzgerald upped their price target on shares of Datadog from $171.00 to $179.00 and gave the stock an "overweight" rating in a research note on Thursday. Finally, BTIG Research set a $136.00 target price on shares of Datadog and gave the stock a "buy" rating in a research report on Tuesday, May 6th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and twenty-four have issued a buy rating to the stock. Based on data from MarketBeat, Datadog currently has an average rating of "Moderate Buy" and a consensus price target of $151.72.

Datadog Stock Down 4.0%

Datadog stock traded down $5.47 during midday trading on Friday, reaching $130.91. The stock had a trading volume of 10,857,862 shares, compared to its average volume of 5,672,621. The firm's fifty day simple moving average is $135.18 and its 200-day simple moving average is $120.62. Datadog, Inc. has a 1-year low of $81.63 and a 1-year high of $170.08. The stock has a market capitalization of $45.21 billion, a P/E ratio of 374.04, a price-to-earnings-growth ratio of 69.33 and a beta of 1.02. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.74 and a current ratio of 3.43.

Datadog (NASDAQ:DDOG - Get Free Report) last posted its earnings results on Thursday, August 7th. The company reported $0.46 earnings per share for the quarter, topping analysts' consensus estimates of $0.41 by $0.05. The business had revenue of $826.76 million for the quarter, compared to analyst estimates of $791.72 million. Datadog had a return on equity of 5.04% and a net margin of 4.13%. The firm's revenue was up 28.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.43 EPS. As a group, analysts expect that Datadog, Inc. will post 0.34 EPS for the current fiscal year.

Insider Activity

In related news, CRO Sean Michael Walters sold 9,469 shares of the company's stock in a transaction on Thursday, July 3rd. The stock was sold at an average price of $150.00, for a total transaction of $1,420,350.00. Following the completion of the sale, the executive directly owned 212,324 shares in the company, valued at $31,848,600. This represents a 4.27% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO David M. Obstler sold 15,000 shares of the company's stock in a transaction on Thursday, July 3rd. The stock was sold at an average price of $147.43, for a total value of $2,211,450.00. Following the sale, the chief financial officer owned 399,270 shares of the company's stock, valued at approximately $58,864,376.10. This represents a 3.62% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 835,918 shares of company stock worth $106,308,669. 8.70% of the stock is owned by insiders.

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.