Xponance Inc. Boosts Stock Position in Datadog, Inc. (NASDAQ:DDOG)

Xponance Inc. raised its stake in shares of Datadog, Inc. (NASDAQ:DDOG - Free Report) by 3.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 58,458 shares of the company's stock after purchasing an additional 2,095 shares during the period. Xponance Inc.'s holdings in Datadog were worth $5,800,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of DDOG. Brighton Jones LLC purchased a new stake in shares of Datadog in the fourth quarter worth approximately $209,000. Proficio Capital Partners LLC purchased a new stake in shares of Datadog in the fourth quarter worth approximately $14,884,000. PNC Financial Services Group Inc. raised its holdings in shares of Datadog by 37.8% in the fourth quarter. PNC Financial Services Group Inc. now owns 18,192 shares of the company's stock worth $2,599,000 after buying an additional 4,989 shares during the period. Independent Advisor Alliance raised its holdings in shares of Datadog by 11.4% in the fourth quarter. Independent Advisor Alliance now owns 7,608 shares of the company's stock worth $1,087,000 after buying an additional 779 shares during the period. Finally, HighTower Advisors LLC grew its stake in Datadog by 11.3% in the fourth quarter. HighTower Advisors LLC now owns 44,156 shares of the company's stock worth $6,310,000 after purchasing an additional 4,481 shares in the last quarter. 78.29% of the stock is currently owned by hedge funds and other institutional investors.

Datadog Stock Up 1.7%

DDOG stock traded up $2.39 on Monday, hitting $139.76. 1,605,524 shares of the company's stock were exchanged, compared to its average volume of 4,979,860. Datadog, Inc. has a 12-month low of $81.63 and a 12-month high of $170.08. The firm has a 50 day moving average price of $123.97 and a two-hundred day moving average price of $120.53. The company has a debt-to-equity ratio of 0.34, a quick ratio of 2.74 and a current ratio of 2.74. The stock has a market cap of $48.27 billion, a P/E ratio of 303.72, a price-to-earnings-growth ratio of 75.99 and a beta of 1.03.

Datadog (NASDAQ:DDOG - Get Free Report) last announced its earnings results on Tuesday, May 6th. The company reported $0.46 earnings per share for the quarter, topping the consensus estimate of $0.42 by $0.04. Datadog had a return on equity of 6.39% and a net margin of 5.85%. The firm had revenue of $761.55 million for the quarter, compared to the consensus estimate of $741.73 million. During the same period in the previous year, the business earned $0.44 EPS. The firm's revenue for the quarter was up 24.6% on a year-over-year basis. As a group, equities research analysts expect that Datadog, Inc. will post 0.34 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts recently issued reports on DDOG shares. Cantor Fitzgerald reissued an "overweight" rating and issued a $134.00 price objective on shares of Datadog in a research note on Wednesday, May 7th. DA Davidson increased their price objective on Datadog from $115.00 to $125.00 and gave the stock a "buy" rating in a research note on Monday, May 5th. Guggenheim reissued a "sell" rating and issued a $105.00 price objective on shares of Datadog in a research note on Tuesday, July 8th. Wolfe Research raised Datadog from a "peer perform" rating to an "outperform" rating and set a $150.00 price objective on the stock in a research note on Thursday, June 12th. Finally, Royal Bank Of Canada reissued an "outperform" rating and issued a $119.00 price objective on shares of Datadog in a research note on Wednesday, May 7th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and twenty-five have given a buy rating to the stock. According to MarketBeat.com, Datadog has a consensus rating of "Moderate Buy" and a consensus price target of $144.27.

Insider Activity

In related news, CFO David M. Obstler sold 35,016 shares of the business's stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $117.40, for a total transaction of $4,110,878.40. Following the transaction, the chief financial officer directly owned 399,270 shares in the company, valued at $46,874,298. The trade was a 8.06% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Amit Agarwal sold 25,000 shares of the business's stock in a transaction on Wednesday, May 28th. The stock was sold at an average price of $117.02, for a total value of $2,925,500.00. Following the transaction, the director owned 76,052 shares in the company, valued at approximately $8,899,605.04. This trade represents a 24.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 866,806 shares of company stock worth $104,910,027 over the last quarter. Company insiders own 8.70% of the company's stock.

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.