Xponance Inc. Increases Stake in Datadog, Inc. (NASDAQ:DDOG)

Xponance Inc. grew its position in Datadog, Inc. (NASDAQ:DDOG - Free Report) by 3.7% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 58,458 shares of the company's stock after buying an additional 2,095 shares during the period. Xponance Inc.'s holdings in Datadog were worth $5,800,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of DDOG. MJP Associates Inc. ADV raised its stake in shares of Datadog by 20.7% in the first quarter. MJP Associates Inc. ADV now owns 3,629 shares of the company's stock worth $360,000 after purchasing an additional 622 shares during the last quarter. Cerity Partners LLC lifted its holdings in shares of Datadog by 128.5% during the first quarter. Cerity Partners LLC now owns 90,736 shares of the company's stock valued at $9,002,000 after purchasing an additional 51,032 shares in the last quarter. Alps Advisors Inc. lifted its holdings in shares of Datadog by 24.6% during the first quarter. Alps Advisors Inc. now owns 24,452 shares of the company's stock valued at $2,426,000 after purchasing an additional 4,826 shares in the last quarter. Capital Insight Partners LLC lifted its stake in Datadog by 4.0% during the 1st quarter. Capital Insight Partners LLC now owns 5,363 shares of the company's stock valued at $532,000 after acquiring an additional 207 shares during the period. Finally, LBP AM SA lifted its stake in Datadog by 40.2% during the 1st quarter. LBP AM SA now owns 419,805 shares of the company's stock valued at $41,649,000 after acquiring an additional 120,343 shares during the period. 78.29% of the stock is owned by hedge funds and other institutional investors.

Datadog Stock Performance

Datadog stock traded down $1.20 during midday trading on Wednesday, hitting $139.36. The stock had a trading volume of 4,044,955 shares, compared to its average volume of 5,004,460. The firm's fifty day moving average is $125.32 and its two-hundred day moving average is $120.62. The company has a market capitalization of $48.13 billion, a PE ratio of 302.96, a P/E/G ratio of 76.33 and a beta of 1.03. Datadog, Inc. has a 52-week low of $81.63 and a 52-week high of $170.08. The company has a current ratio of 2.74, a quick ratio of 2.74 and a debt-to-equity ratio of 0.34.

Datadog (NASDAQ:DDOG - Get Free Report) last released its earnings results on Tuesday, May 6th. The company reported $0.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.42 by $0.04. The company had revenue of $761.55 million during the quarter, compared to analyst estimates of $741.73 million. Datadog had a net margin of 5.85% and a return on equity of 6.39%. The firm's quarterly revenue was up 24.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.44 EPS. On average, research analysts forecast that Datadog, Inc. will post 0.34 EPS for the current year.

Insider Buying and Selling

In related news, CFO David M. Obstler sold 15,000 shares of the stock in a transaction that occurred on Thursday, July 3rd. The shares were sold at an average price of $147.43, for a total value of $2,211,450.00. Following the completion of the sale, the chief financial officer directly owned 399,270 shares of the company's stock, valued at approximately $58,864,376.10. This represents a 3.62% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Amit Agarwal sold 23,058 shares of the stock in a transaction that occurred on Wednesday, June 25th. The stock was sold at an average price of $130.87, for a total transaction of $3,017,600.46. Following the completion of the sale, the director directly owned 31,298 shares of the company's stock, valued at $4,095,969.26. This represents a 42.42% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 866,806 shares of company stock worth $104,910,027 in the last ninety days. Corporate insiders own 8.70% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on DDOG. Bank of America upped their target price on shares of Datadog from $150.00 to $175.00 and gave the company a "buy" rating in a research note on Monday, July 7th. BTIG Research set a $136.00 target price on shares of Datadog and gave the company a "buy" rating in a research note on Tuesday, May 6th. Macquarie lowered their target price on shares of Datadog from $175.00 to $140.00 and set an "outperform" rating on the stock in a research note on Wednesday, May 7th. Scotiabank set a $130.00 target price on shares of Datadog and gave the company an "outperform" rating in a research note on Wednesday, May 7th. Finally, DA Davidson upped their target price on shares of Datadog from $115.00 to $125.00 and gave the company a "buy" rating in a research note on Monday, May 5th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and twenty-four have issued a buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $145.34.

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.