Rhumbline Advisers Acquires 28,512 Shares of Datadog, Inc. (NASDAQ:DDOG)

Rhumbline Advisers boosted its holdings in shares of Datadog, Inc. (NASDAQ:DDOG) by 7.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 401,476 shares of the company’s stock after buying an additional 28,512 shares during the quarter. Rhumbline Advisers owned approximately 0.12% of Datadog worth $52,067,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. International Assets Investment Management LLC purchased a new stake in shares of Datadog in the 4th quarter worth $1,915,000. Truist Financial Corp lifted its stake in shares of Datadog by 9.1% during the 4th quarter. Truist Financial Corp now owns 20,363 shares of the company’s stock valued at $2,472,000 after buying an additional 1,691 shares in the last quarter. First Trust Direct Indexing L.P. bought a new position in Datadog in the 4th quarter worth $216,000. Amalgamated Bank increased its stake in Datadog by 0.5% in the 4th quarter. Amalgamated Bank now owns 29,210 shares of the company’s stock worth $3,546,000 after buying an additional 152 shares in the last quarter. Finally, Benjamin F. Edwards & Company Inc. increased its stake in Datadog by 17.9% in the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 639 shares of the company’s stock worth $78,000 after buying an additional 97 shares in the last quarter. 78.29% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Datadog

In related news, CTO Alexis Le-Quoc sold 127,105 shares of the stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $111.66, for a total value of $14,192,544.30. Following the transaction, the chief technology officer now owns 347,684 shares of the company’s stock, valued at $38,822,395.44. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, insider Madre Armelle De sold 1,749 shares of the firm’s stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $109.44, for a total transaction of $191,410.56. Following the sale, the insider now owns 93,774 shares of the company’s stock, valued at $10,262,626.56. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CTO Alexis Le-Quoc sold 127,105 shares of Datadog stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $111.66, for a total value of $14,192,544.30. Following the completion of the transaction, the chief technology officer now owns 347,684 shares in the company, valued at approximately $38,822,395.44. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 705,354 shares of company stock worth $84,468,981. 11.78% of the stock is currently owned by insiders.

Datadog Price Performance

Datadog stock opened at $108.65 on Thursday. The firm has a market capitalization of $36.34 billion, a P/E ratio of 339.53, a price-to-earnings-growth ratio of 29.66 and a beta of 1.11. Datadog, Inc. has a 1-year low of $77.81 and a 1-year high of $138.61. The company’s 50-day moving average is $119.24 and its 200 day moving average is $121.15.

Datadog (NASDAQ:DDOG) last issued its quarterly earnings results on Thursday, August 8th. The company reported $0.43 earnings per share 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 firm had revenue of $645.28 million for the quarter, compared to the consensus estimate of $624.92 million. During the same period in the prior year, the business posted $0.36 earnings per share. The company’s revenue for the quarter was up 26.7% on a year-over-year basis. Research analysts anticipate that Datadog, Inc. will post 0.41 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on DDOG shares. Mizuho raised Datadog from a “neutral” rating to an “outperform” rating and upped their price objective for the stock from $135.00 to $155.00 in a research note on Tuesday, July 16th. JMP Securities raised Datadog to a “hold” rating in a report on Wednesday, May 8th. UBS Group increased their price objective on shares of Datadog from $120.00 to $125.00 and gave the company a “neutral” rating in a report on Friday, August 9th. Evercore ISI started coverage on shares of Datadog in a report on Monday, July 15th. They issued an “outperform” rating and a $150.00 target price on the stock. Finally, BTIG Research upgraded shares of Datadog from a “neutral” rating to a “buy” rating and set a $143.00 target price for the company in a research report on Thursday, August 1st. Four equities research analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target 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.