Royal London Asset Management Ltd. Has $15.28 Million Stock Position in Datadog, Inc. (NASDAQ:DDOG)

Royal London Asset Management Ltd. lifted its holdings in shares of Datadog, Inc. (NASDAQ:DDOG) by 7.8% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 117,802 shares of the company’s stock after purchasing an additional 8,519 shares during the quarter. Royal London Asset Management Ltd.’s holdings in Datadog were worth $15,278,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of DDOG. Riverview Trust Co bought a new stake in Datadog in the 1st quarter valued at $26,000. SouthState Corp bought a new position in shares of Datadog during the 2nd quarter worth about $26,000. Raleigh Capital Management Inc. bought a new position in Datadog during the 4th quarter valued at about $29,000. Jones Financial Companies Lllp bought a new position in Datadog during the 4th quarter valued at about $33,000. Finally, Quest Partners LLC bought a new position in Datadog during the 4th quarter valued at about $36,000. 78.29% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have weighed in on the stock. Mizuho upgraded shares of Datadog from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $135.00 to $155.00 in a research report on Tuesday, July 16th. Evercore ISI started coverage on shares of Datadog in a research report on Monday, July 15th. They set an “outperform” rating and a $150.00 price target for the company. Monness Crespi & Hardt upgraded shares of Datadog from a “sell” rating to a “neutral” rating in a research report on Wednesday, August 7th. Bank of America upgraded shares of Datadog from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $143.00 to $155.00 in a research report on Thursday, May 30th. Finally, BTIG Research upgraded shares of Datadog from a “neutral” rating to a “buy” rating and set a $143.00 price target for the company in a research report on Thursday, August 1st. Four research analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Datadog presently has a consensus rating of “Moderate Buy” and an average price target of $139.88.

Datadog Stock Performance

DDOG stock opened at $109.63 on Friday. The company’s 50-day simple moving average is $116.62 and its 200 day simple moving average is $120.37. Datadog, Inc. has a 52 week low of $77.81 and a 52 week high of $138.61. The company has a market capitalization of $36.67 billion, a PE ratio of 342.59, a price-to-earnings-growth ratio of 27.25 and a beta of 1.11.

Datadog (NASDAQ:DDOG) last posted its quarterly earnings data 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 net margin of 6.81% and a return on equity of 9.01%. The business had revenue of $645.28 million during the quarter, compared to analysts’ expectations of $624.92 million. During the same quarter in the prior year, the business posted $0.36 earnings per share. Datadog’s revenue was up 26.7% compared to the same quarter last year. On average, analysts forecast that Datadog, Inc. will post 0.41 EPS for the current year.

Insider Transactions at Datadog

In other news, CEO Olivier Pomel sold 200,993 shares of the stock in a transaction dated Monday, July 8th. The shares were sold at an average price of $131.01, for a total value of $26,332,092.93. Following the completion of the transaction, the chief executive officer now owns 324,539 shares of the company’s stock, valued at $42,517,854.39. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO Olivier Pomel sold 200,993 shares of the stock in a transaction dated Monday, July 8th. The shares were sold at an average price of $131.01, for a total value of $26,332,092.93. Following the completion of the transaction, the chief executive officer now owns 324,539 shares of the company’s stock, valued at $42,517,854.39. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CTO Alexis Le-Quoc sold 127,105 shares of the stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $111.66, for a total transaction of $14,192,544.30. Following the completion of the transaction, the chief technology officer now directly owns 347,684 shares of the company’s stock, valued at approximately $38,822,395.44. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 552,741 shares of company stock valued at $67,517,521. 11.78% of the stock is currently owned by insiders.

Datadog 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.