OFI Invest Asset Management Increases Position in Datadog, Inc. (NASDAQ:DDOG)

OFI Invest Asset Management increased its stake in shares of Datadog, Inc. (NASDAQ:DDOG) by 474.3% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 1,964 shares of the company’s stock after acquiring an additional 1,622 shares during the period. OFI Invest Asset Management’s holdings in Datadog were worth $238,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Spire Wealth Management raised its stake in shares of Datadog by 2,148.5% during the fourth quarter. Spire Wealth Management now owns 5,329 shares of the company’s stock worth $694,000 after purchasing an additional 5,092 shares during the last quarter. Hsbc Holdings PLC boosted its holdings in shares of Datadog by 47.8% in the fourth quarter. Hsbc Holdings PLC now owns 193,390 shares of the company’s stock valued at $23,505,000 after acquiring an additional 62,533 shares in the last quarter. Congress Asset Management Co. MA acquired a new position in shares of Datadog during the first quarter worth about $1,083,000. Massachusetts Financial Services Co. MA raised its holdings in Datadog by 31.3% during the fourth 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 in the last quarter. Finally, Zevenbergen Capital Investments LLC boosted its holdings 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 purchasing an additional 8,830 shares in the last quarter. Institutional investors and hedge funds own 78.29% of the company’s stock.

Datadog Trading Down 1.2 %

DDOG traded down $1.35 during midday trading on Friday, hitting $114.98. The company’s stock had a trading volume of 2,197,923 shares, compared to its average volume of 4,092,042. Datadog, Inc. has a 52-week low of $77.81 and a 52-week high of $138.61. The firm has a 50-day moving average price of $119.86 and a two-hundred day moving average price of $122.61. The company has a current ratio of 3.43, a quick ratio of 3.43 and a debt-to-equity ratio of 0.34. The firm has a market cap of $38.46 billion, a P/E ratio of 359.31, a PEG ratio of 37.24 and a beta of 1.11.

Datadog (NASDAQ:DDOG) last posted its quarterly earnings results on Thursday, August 8th. The company reported $0.43 earnings per share for the quarter, topping analysts’ consensus estimates of $0.37 by $0.06. Datadog had a net margin of 5.11% and a return on equity of 7.48%. The company had revenue of $645.28 million for the quarter, compared to the consensus estimate of $624.92 million. During the same quarter last year, the firm posted $0.36 earnings per share. Datadog’s revenue was up 26.7% on a year-over-year basis. On average, research analysts anticipate that Datadog, Inc. will post 0.32 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Olivier Pomel sold 85,637 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $104.21, for a total value of $8,924,231.77. Following the transaction, the chief executive officer now owns 405,314 shares in the company, valued at $42,237,771.94. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Datadog news, CEO Olivier Pomel sold 85,637 shares of the firm’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $104.21, for a total value of $8,924,231.77. Following the transaction, the chief executive officer now directly owns 405,314 shares of the company’s stock, valued at $42,237,771.94. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Madre Armelle De sold 300 shares of the business’s stock in a transaction dated Thursday, May 23rd. The stock was sold at an average price of $125.00, for a total value of $37,500.00. Following the transaction, the insider now owns 99,965 shares in the company, valued at approximately $12,495,625. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 857,306 shares of company stock valued at $101,078,323. 11.78% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

DDOG has been the subject of a number of analyst reports. Evercore ISI started coverage on Datadog in a research note on Monday, July 15th. They set an “outperform” rating and a $150.00 target price for the company. Baird R W upgraded Datadog from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, May 8th. BMO Capital Markets decreased their target price on shares of Datadog from $140.00 to $132.00 and set an “outperform” rating on the stock in a research report on Friday, August 9th. Wedbush reiterated an “outperform” rating and issued a $155.00 price target on shares of Datadog in a report on Friday, August 9th. Finally, Loop Capital reissued a “buy” rating and set a $160.00 price objective on shares of Datadog in a report on Friday, July 5th. Four equities research analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $139.15.

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.