EDBI Pte Ltd Purchases 3,000 Shares of Datadog, Inc. (NASDAQ:DDOG)

EDBI Pte Ltd increased its position in Datadog, Inc. (NASDAQ:DDOG) by 23.8% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 15,624 shares of the company’s stock after acquiring an additional 3,000 shares during the period. Datadog makes up 2.2% of EDBI Pte Ltd’s portfolio, making the stock its 9th biggest position. EDBI Pte Ltd’s holdings in Datadog were worth $1,931,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Vanguard Group Inc. increased its stake in Datadog by 2.8% during the 4th quarter. Vanguard Group Inc. now owns 27,259,414 shares of the company’s stock valued at $3,308,748,000 after buying an additional 734,539 shares during the period. Sands Capital Management LLC increased its stake in Datadog by 3.7% during the 4th quarter. Sands Capital Management LLC now owns 4,564,776 shares of the company’s stock valued at $554,073,000 after buying an additional 162,108 shares during the period. Norges Bank acquired a new position in Datadog during the 4th quarter valued at about $384,986,000. Massachusetts Financial Services Co. MA increased its stake in Datadog by 31.3% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 2,733,448 shares of the company’s stock valued at $331,786,000 after buying an additional 651,244 shares during the period. Finally, 1832 Asset Management L.P. increased its stake in Datadog by 47.9% during the 4th quarter. 1832 Asset Management L.P. now owns 2,619,500 shares of the company’s stock valued at $317,955,000 after buying an additional 848,000 shares during the period. Institutional investors and hedge funds own 78.29% of the company’s stock.

Datadog Stock Up 1.0 %

DDOG opened at $129.69 on Monday. Datadog, Inc. has a fifty-two week low of $77.81 and a fifty-two week high of $138.61. 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 firm’s fifty day moving average price is $119.81 and its two-hundred day moving average price is $123.21. The company has a market capitalization of $43.38 billion, a P/E ratio of 405.28, a P/E/G ratio of 42.70 and a beta of 1.11.

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

Insider Buying and Selling at Datadog

In other Datadog news, CEO Olivier Pomel sold 23,924 shares of Datadog stock in a transaction on Tuesday, April 23rd. The stock was sold at an average price of $130.05, for a total transaction of $3,111,316.20. Following the completion of the transaction, the chief executive officer now directly owns 337,247 shares of the company’s stock, valued at $43,858,972.35. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, CEO Olivier Pomel sold 23,924 shares of Datadog stock in a transaction dated Tuesday, April 23rd. The stock was sold at an average price of $130.05, for a total value of $3,111,316.20. Following the completion of the transaction, the chief executive officer now directly owns 337,247 shares of the company’s stock, valued at $43,858,972.35. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Titilope Cole sold 2,210 shares of Datadog stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $112.34, for a total value of $248,271.40. Following the completion of the transaction, the director now directly owns 6,451 shares of the company’s stock, valued at $724,705.34. The disclosure for this sale can be found here. Over the last three months, insiders sold 702,037 shares of company stock valued at $82,731,018. 11.78% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. BMO Capital Markets reduced their price objective on shares of Datadog from $155.00 to $140.00 and set an “outperform” rating for the company in a research report on Wednesday, May 8th. Robert W. Baird raised Datadog from a “neutral” rating to an “outperform” rating and boosted their price target for the company from $130.00 to $140.00 in a research note on Wednesday, May 8th. 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. Baird R W raised shares of Datadog from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, May 8th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $165.00 price objective on shares of Datadog in a research report on Thursday. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, twenty-five have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Datadog has a consensus rating of “Moderate Buy” and a consensus target price of $136.04.

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.