Federated Hermes Inc. Increases Stock Position in Datadog, Inc. (NASDAQ:DDOG)

Federated Hermes Inc. increased its position in shares of Datadog, Inc. (NASDAQ:DDOG - Free Report) by 30.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 404,105 shares of the company's stock after buying an additional 93,171 shares during the quarter. Federated Hermes Inc. owned 0.12% of Datadog worth $49,050,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in DDOG. Norges Bank acquired a new stake in Datadog during the fourth quarter worth about $202,877,000. Massachusetts Financial Services Co. MA bought a new position in Datadog during the third quarter worth about $189,668,000. Alkeon Capital Management LLC bought a new position in Datadog during the third quarter worth about $127,526,000. Vanguard Group Inc. lifted its stake in Datadog by 4.7% during the third quarter. Vanguard Group Inc. now owns 26,524,875 shares of the company's stock worth $2,416,151,000 after purchasing an additional 1,191,742 shares during the period. Finally, Arrowstreet Capital Limited Partnership lifted its stake in Datadog by 104.8% during the first quarter. Arrowstreet Capital Limited Partnership now owns 2,084,788 shares of the company's stock worth $315,783,000 after purchasing an additional 1,066,716 shares during the period. 78.29% of the stock is owned by institutional investors and hedge funds.

Datadog Trading Down 3.9 %

Shares of DDOG traded down $4.93 during trading hours on Friday, reaching $120.09. The stock had a trading volume of 3,627,985 shares, compared to its average volume of 2,512,027. The company has a quick ratio of 3.17, a current ratio of 3.17 and a debt-to-equity ratio of 0.37. Datadog, Inc. has a 52 week low of $62.60 and a 52 week high of $138.61. The firm has a 50-day moving average of $125.89 and a 200 day moving average of $115.95. The company has a market cap of $39.85 billion, a P/E ratio of 1,000.75 and a beta of 1.15.

Datadog (NASDAQ:DDOG - Get Free Report) last released its quarterly earnings data on Tuesday, February 13th. The company reported $0.44 EPS for the quarter, beating analysts' consensus estimates of $0.43 by $0.01. Datadog had a net margin of 2.28% and a return on equity of 3.79%. The business had revenue of $589.65 million during the quarter, compared to analysts' expectations of $568.73 million. During the same quarter in the prior year, the company earned ($0.08) EPS. The firm's quarterly revenue was up 25.6% on a year-over-year basis. On average, sell-side analysts expect that Datadog, Inc. will post -0.14 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have commented on DDOG. William Blair restated an "outperform" rating on shares of Datadog in a research note on Friday, February 16th. Mizuho raised their price target on shares of Datadog from $108.00 to $130.00 and gave the stock a "neutral" rating in a research note on Wednesday, February 14th. Needham & Company LLC raised their price target on shares of Datadog from $125.00 to $165.00 and gave the stock a "buy" rating in a research note on Tuesday, February 13th. Wolfe Research raised their price target on shares of Datadog from $140.00 to $150.00 and gave the stock an "outperform" rating in a research note on Wednesday, February 14th. Finally, Canaccord Genuity Group reiterated a "buy" rating and issued a $150.00 target price on shares of Datadog in a research note on Friday, February 23rd. Six equities research analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $130.52.

Insiders Place Their Bets

In other news, CTO Alexis Le-Quoc sold 127,105 shares of the stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $135.10, for a total transaction of $17,171,885.50. Following the completion of the transaction, the chief technology officer now directly owns 247,328 shares in the company, valued at approximately $33,414,012.80. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, CTO Alexis Le-Quoc sold 127,105 shares of the firm's stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $135.10, for a total value of $17,171,885.50. Following the completion of the sale, the chief technology officer now directly owns 247,328 shares in the company, valued at approximately $33,414,012.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CRO Sean Michael Walters sold 10,000 shares of the firm's stock in a transaction dated Thursday, April 11th. The shares were sold at an average price of $129.86, for a total transaction of $1,298,600.00. Following the completion of the sale, the executive now owns 162,706 shares of the company's stock, valued at $21,129,001.16. The disclosure for this sale can be found here. In the last 90 days, insiders sold 745,984 shares of company stock worth $95,917,681. Corporate insiders own 14.97% of the company's stock.

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.