LGT Group Foundation Has $5.87 Million Stock Position in Datadog, Inc. (NASDAQ:DDOG)

LGT Group Foundation lowered its position in shares of Datadog, Inc. (NASDAQ:DDOG) by 0.8% during the second quarter, Holdings Channel reports. The fund owned 45,240 shares of the company’s stock after selling 342 shares during the quarter. LGT Group Foundation’s holdings in Datadog were worth $5,867,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the company. Hsbc Holdings PLC raised its stake in shares of Datadog by 47.8% during the 4th quarter. Hsbc Holdings PLC now owns 193,390 shares of the company’s stock worth $23,505,000 after purchasing an additional 62,533 shares in the last quarter. Congress Asset Management Co. MA bought a new stake in Datadog in the first quarter worth approximately $1,083,000. Massachusetts Financial Services Co. MA increased its stake in shares of Datadog by 31.3% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 2,733,448 shares of the company’s stock worth $331,786,000 after purchasing an additional 651,244 shares during the last quarter. Zevenbergen Capital Investments LLC raised its holdings in shares of Datadog by 5.6% during the 4th quarter. Zevenbergen Capital Investments LLC now owns 165,405 shares of the company’s stock valued at $20,077,000 after purchasing an additional 8,830 shares in the last quarter. Finally, Vanguard Group Inc. lifted its stake in shares of Datadog by 0.6% in the 1st quarter. Vanguard Group Inc. now owns 27,431,107 shares of the company’s stock valued at $3,390,485,000 after purchasing an additional 171,693 shares during the last quarter. Hedge funds and other institutional investors own 78.29% of the company’s stock.

Datadog Price Performance

Shares of DDOG opened at $107.70 on Tuesday. The company has a market capitalization of $36.03 billion, a P/E ratio of 336.56, a PEG ratio of 27.25 and a beta of 1.11. Datadog, Inc. has a one year low of $77.81 and a one year high of $138.61. The business’s 50 day simple moving average is $117.97 and its 200-day simple moving average is $120.67.

Datadog (NASDAQ:DDOG) last announced its earnings results on Thursday, August 8th. The company reported $0.43 EPS for the quarter, topping the consensus estimate of $0.37 by $0.06. Datadog had a return on equity of 9.01% and a net margin of 6.81%. The company had revenue of $645.28 million for the quarter, compared to analysts’ expectations of $624.92 million. During the same quarter in the prior year, the business earned $0.36 earnings per share. The business’s revenue for the quarter was up 26.7% on a year-over-year basis. On average, sell-side analysts anticipate that Datadog, Inc. will post 0.41 EPS for the current fiscal year.

Insider Activity

In other news, Director Matthew Jacobson sold 18,415 shares of the firm’s stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $119.52, for a total value of $2,200,960.80. Following the transaction, the director now owns 44,387 shares of the company’s stock, valued at approximately $5,305,134.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Datadog news, Director Matthew Jacobson sold 18,415 shares of the firm’s stock in a transaction that occurred on Thursday, June 13th. The shares were sold at an average price of $119.52, for a total transaction of $2,200,960.80. Following the sale, the director now directly owns 44,387 shares in the company, valued at approximately $5,305,134.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CTO Alexis Le-Quoc sold 127,105 shares of the company’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $130.75, for a total transaction of $16,618,978.75. Following the completion of the transaction, the chief technology officer now owns 279,025 shares of the company’s stock, valued at approximately $36,482,518.75. The disclosure for this sale can be found here. Insiders have sold 571,156 shares of company stock valued at $69,718,481 over the last 90 days. 11.78% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on DDOG shares. Loop Capital restated a “buy” rating and set a $160.00 target price on shares of Datadog in a report on Friday, July 5th. Scotiabank reduced their target price on Datadog from $145.00 to $135.00 and set a “sector outperform” rating for the company in a report on Friday, August 9th. BTIG Research upgraded Datadog from a “neutral” rating to a “buy” rating and set a $143.00 price target on the stock in a report on Thursday, August 1st. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $150.00 price objective on shares of Datadog in a report on Monday, July 22nd. Finally, BMO Capital Markets lowered their price target on Datadog from $140.00 to $132.00 and set an “outperform” rating on the stock in a research report on Friday, August 9th. Four equities research analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $139.88.

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.