Clearbridge Investments LLC Acquires 119 Shares of Datadog, Inc. (NASDAQ:DDOG)

Clearbridge Investments LLC lifted its holdings in Datadog, Inc. (NASDAQ:DDOG) by 0.0% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 246,322 shares of the company’s stock after acquiring an additional 119 shares during the period. Clearbridge Investments LLC owned approximately 0.07% of Datadog worth $30,445,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently made changes to their positions in DDOG. Spire Wealth Management increased its position in Datadog by 2,148.5% in the 4th quarter. Spire Wealth Management now owns 5,329 shares of the company’s stock valued at $694,000 after buying an additional 5,092 shares in the last quarter. Hsbc Holdings PLC increased its position in Datadog by 47.8% in the 4th quarter. Hsbc Holdings PLC now owns 193,390 shares of the company’s stock valued at $23,505,000 after buying an additional 62,533 shares in the last quarter. Congress Asset Management Co. MA bought a new stake in Datadog in the 1st quarter valued at about $1,083,000. Massachusetts Financial Services Co. MA increased its position in Datadog by 31.3% in 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 in the last quarter. Finally, Zevenbergen Capital Investments LLC increased its position in Datadog by 5.6% in the 4th quarter. Zevenbergen Capital Investments LLC now owns 165,405 shares of the company’s stock valued at $20,077,000 after buying an additional 8,830 shares in the last quarter. 78.29% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

DDOG has been the subject of a number of research analyst reports. Baird R W raised Datadog from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, May 8th. Wells Fargo & Company raised Datadog from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $130.00 to $150.00 in a report on Tuesday, April 23rd. Rosenblatt Securities reissued a “buy” rating and set a $146.00 price objective on shares of Datadog in a report on Monday, May 6th. Bank of America raised Datadog from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $143.00 to $155.00 in a report on Thursday, May 30th. Finally, Evercore ISI started coverage on Datadog in a report on Monday, July 15th. They set an “outperform” rating and a $150.00 price objective for the company. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $138.21.

Datadog Stock Performance

Shares of NASDAQ:DDOG traded up $1.99 during trading on Tuesday, hitting $123.21. 2,344,780 shares of the company were exchanged, compared to its average volume of 4,060,423. The company has a market cap of $41.21 billion, a PE ratio of 385.03, a P/E/G ratio of 39.19 and a beta of 1.11. The stock has a 50 day moving average of $121.30 and a 200 day moving average of $124.03. Datadog, Inc. has a 52-week low of $77.81 and a 52-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.

Datadog (NASDAQ:DDOG) last posted its earnings results on Tuesday, May 7th. The company reported $0.16 earnings per share (EPS) for the quarter, topping the consensus estimate 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 return on equity of 7.48% and a net margin of 5.11%. As a group, equities research analysts predict that Datadog, Inc. will post 0.32 EPS for the current year.

Insiders Place Their Bets

In other Datadog news, CEO Olivier Pomel sold 200,993 shares of the stock in a transaction on Monday, July 8th. The stock was sold at an average price of $131.01, for a total transaction of $26,332,092.93. Following the sale, the chief executive officer now owns 324,539 shares in the company, valued at $42,517,854.39. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, CEO Olivier Pomel sold 200,993 shares of the company’s stock in a transaction on 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 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 legal filing with the SEC, which is available at the SEC website. Also, COO Adam Blitzer sold 11,946 shares of the company’s stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $109.45, for a total transaction of $1,307,489.70. Following the completion of the transaction, the chief operating officer now directly owns 236,640 shares in the company, valued at approximately $25,900,248. The disclosure for this sale can be found here. Insiders have sold a total of 857,606 shares of company stock worth $103,799,779 over the last 90 days. Corporate insiders own 11.78% of the company’s stock.

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.