Edgestream Partners L.P. Acquires 3,155 Shares of Datadog, Inc. (NASDAQ:DDOG)

Edgestream Partners L.P. raised its holdings in Datadog, Inc. (NASDAQ:DDOG) by 62.2% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 8,224 shares of the company’s stock after acquiring an additional 3,155 shares during the quarter. Edgestream Partners L.P.’s holdings in Datadog were worth $1,016,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in DDOG. Norges Bank bought a new position in shares of Datadog during the 4th quarter worth $384,986,000. 1832 Asset Management L.P. boosted its position in Datadog by 47.9% during the fourth quarter. 1832 Asset Management L.P. now owns 2,619,500 shares of the company’s stock valued at $317,955,000 after purchasing an additional 848,000 shares in the last quarter. Vanguard Group Inc. boosted its position in Datadog by 2.8% during the fourth quarter. Vanguard Group Inc. now owns 27,259,414 shares of the company’s stock valued at $3,308,748,000 after purchasing an additional 734,539 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its position in Datadog by 31.3% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 2,733,448 shares of the company’s stock valued at $331,786,000 after purchasing an additional 651,244 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its position in Datadog by 47.5% during the first quarter. Allspring Global Investments Holdings LLC now owns 895,183 shares of the company’s stock valued at $110,645,000 after purchasing an additional 288,257 shares in the last quarter. Institutional investors own 78.29% of the company’s stock.

Insider Activity at Datadog

In related news, CEO Olivier Pomel sold 85,637 shares of Datadog stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $125.41, for a total transaction of $10,739,736.17. Following the completion of the transaction, the chief executive officer now directly owns 337,247 shares in the company, valued at $42,294,146.27. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Datadog news, CEO Olivier Pomel sold 85,637 shares of the firm’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $125.41, for a total value of $10,739,736.17. Following the sale, the chief executive officer now directly owns 337,247 shares of the company’s stock, valued at $42,294,146.27. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO David M. Obstler sold 10,745 shares of the firm’s stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $109.45, for a total value of $1,176,040.25. Following the completion of the sale, the chief financial officer now directly owns 325,028 shares in the company, valued at $35,574,314.60. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 857,606 shares of company stock worth $103,799,779. 11.78% of the stock is owned by corporate insiders.

Datadog Stock Performance

DDOG stock traded up $3.37 during trading on Tuesday, hitting $124.59. 815,160 shares of the company traded hands, compared to its average volume of 4,048,250. The stock’s 50-day simple moving average is $121.17 and its 200 day simple moving average is $123.98. The company has a debt-to-equity ratio of 0.34, a current ratio of 3.43 and a quick ratio of 3.43. The company has a market cap of $41.68 billion, a PE ratio of 378.81, a P/E/G ratio of 39.19 and a beta of 1.11. Datadog, Inc. has a 1 year low of $77.81 and a 1 year high of $138.61.

Datadog (NASDAQ:DDOG) last announced its quarterly earnings results on Tuesday, May 7th. The company reported $0.16 earnings per share for the quarter, beating the consensus estimate of ($0.04) by $0.20. The company had revenue of $611.25 million during the quarter, compared to analysts’ expectations of $589.97 million. Datadog had a return on equity of 7.48% and a net margin of 5.11%. On average, equities analysts expect that Datadog, Inc. will post 0.32 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. Needham & Company LLC reaffirmed a “buy” rating and set a $165.00 price objective on shares of Datadog in a research report on Thursday, June 27th. Rosenblatt Securities reaffirmed a “buy” rating and set a $146.00 price objective on shares of Datadog in a research report on Monday, May 6th. Wedbush reaffirmed an “outperform” rating and set a $155.00 price objective on shares of Datadog in a research report on Wednesday, June 26th. Robert W. Baird raised Datadog from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $130.00 to $140.00 in a research report on Wednesday, May 8th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $150.00 price objective on shares of Datadog in a research report on Monday. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $138.21.

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.