Burney Co. Buys New Position in Datadog, Inc. (NASDAQ:DDOG)

Burney Co. bought a new stake in shares of Datadog, Inc. (NASDAQ:DDOG) in the 2nd quarter, HoldingsChannel.com reports. The institutional investor bought 17,126 shares of the company’s stock, valued at approximately $2,221,000.

Several other hedge funds have also recently added to or reduced their stakes in the business. Whittier Trust Co. of Nevada Inc. boosted its stake in Datadog by 4.0% during the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 18,848 shares of the company’s stock valued at $2,444,000 after purchasing an additional 722 shares during the period. Whittier Trust Co. lifted its position in shares of Datadog by 3.5% in the 2nd quarter. Whittier Trust Co. now owns 53,360 shares of the company’s stock worth $6,920,000 after acquiring an additional 1,799 shares during the period. HB Wealth Management LLC lifted its position in shares of Datadog by 5.2% in the 2nd quarter. HB Wealth Management LLC now owns 1,926 shares of the company’s stock worth $250,000 after acquiring an additional 95 shares during the period. ARK Investment Management LLC bought a new stake in shares of Datadog in the 2nd quarter worth approximately $11,379,000. Finally, Riverpark Capital Management LLC lifted its position in shares of Datadog by 10.0% in the 2nd quarter. Riverpark Capital Management LLC now owns 9,972 shares of the company’s stock worth $1,293,000 after acquiring an additional 907 shares during the period. Institutional investors own 78.29% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have commented on DDOG. BMO Capital Markets reduced their price objective on Datadog from $140.00 to $132.00 and set an “outperform” rating for the company in a research report on Friday, August 9th. Scotiabank reduced their price objective on Datadog from $145.00 to $135.00 and set a “sector outperform” rating for the company in a research report on Friday, August 9th. Monness Crespi & Hardt upgraded Datadog from a “sell” rating to a “neutral” rating in a research report on Wednesday, August 7th. Baird R W raised Datadog from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, May 8th. Finally, BTIG Research raised Datadog from a “neutral” rating to a “buy” rating and set a $143.00 price objective for the company in a research note 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 stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $139.88.

Insider Activity at Datadog

In other Datadog news, CTO Alexis Le-Quoc sold 127,105 shares of the company’s 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 sale, the chief technology officer now owns 347,684 shares in the company, valued at $38,822,395.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, Director Titilope Cole sold 2,210 shares of the stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $112.34, for a total transaction of $248,271.40. Following the sale, the director now owns 6,451 shares of the company’s stock, valued at $724,705.34. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, 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 sale, the chief technology officer now directly 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 quarter, insiders have sold 857,006 shares of company stock valued at $101,040,823. 11.78% of the stock is owned by insiders.

Datadog Stock Up 1.3 %

Shares of Datadog stock traded up $1.44 during trading on Thursday, reaching $114.86. The stock had a trading volume of 1,341,705 shares, compared to its average volume of 3,967,857. The company has a market capitalization of $38.42 billion, a price-to-earnings ratio of 363.50, a P/E/G ratio of 37.24 and a beta of 1.11. The stock has a fifty day moving average price of $119.83 and a two-hundred day moving average price of $121.88. Datadog, Inc. has a 52 week low of $77.81 and a 52 week high of $138.61. The company has a current ratio of 3.43, a quick ratio of 3.43 and a debt-to-equity ratio of 0.34.

Datadog (NASDAQ:DDOG) last issued its quarterly earnings results on Thursday, August 8th. The company reported $0.43 EPS for the quarter, beating analysts’ consensus estimates of $0.37 by $0.06. The company had revenue of $645.28 million for the quarter, compared to analyst estimates of $624.92 million. Datadog had a return on equity of 7.48% and a net margin of 5.11%. The company’s quarterly revenue was up 26.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.36 earnings per share. Sell-side analysts predict that Datadog, Inc. will post 0.32 EPS for the current fiscal year.

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.