Datadog, Inc. (NASDAQ:DDOG) Shares Bought by Parsons Capital Management Inc. RI

Parsons Capital Management Inc. RI boosted its stake in shares of Datadog, Inc. (NASDAQ:DDOG) by 1.8% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 4,890 shares of the company’s stock after buying an additional 88 shares during the period. Parsons Capital Management Inc. RI’s holdings in Datadog were worth $604,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its stake in Datadog by 2.8% during the fourth quarter. Vanguard Group Inc. now owns 27,259,414 shares of the company’s stock worth $3,308,748,000 after buying an additional 734,539 shares during the last quarter. Sands Capital Management LLC lifted its stake in shares of Datadog by 3.7% in the 4th quarter. Sands Capital Management LLC now owns 4,564,776 shares of the company’s stock valued at $554,073,000 after purchasing an additional 162,108 shares during the last quarter. Norges Bank acquired a new position in shares of Datadog in the 4th quarter valued at $384,986,000. Massachusetts Financial Services Co. MA lifted its stake in shares of 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 purchasing an additional 651,244 shares during the last quarter. Finally, 1832 Asset Management L.P. lifted its stake in shares of Datadog by 47.9% in the 4th quarter. 1832 Asset Management L.P. now owns 2,619,500 shares of the company’s stock valued at $317,955,000 after purchasing an additional 848,000 shares during the last quarter. Institutional investors and hedge funds own 78.29% of the company’s stock.

Analysts Set New Price Targets

DDOG has been the topic of several recent analyst reports. Stifel Nicolaus reaffirmed a “buy” rating and issued a $152.00 price target on shares of Datadog in a research note on Monday, April 22nd. Robert W. Baird upped their price target on Datadog from $120.00 to $130.00 and gave the company a “neutral” rating in a research note on Wednesday, February 14th. BMO Capital Markets reaffirmed an “outperform” rating and issued a $155.00 price target (up previously from $140.00) on shares of Datadog in a research note on Wednesday, February 14th. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $150.00 price target on shares of Datadog in a research note on Friday, February 23rd. Finally, Citigroup boosted their price objective on Datadog from $125.00 to $150.00 and gave the company a “buy” rating in a report on Monday, January 22nd. Five equities research analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $131.70.

Datadog Stock Up 5.0 %

Shares of DDOG traded up $6.20 during mid-day trading on Friday, reaching $131.45. The company’s stock had a trading volume of 5,116,602 shares, compared to its average volume of 2,961,442. Datadog, Inc. has a 12-month low of $63.00 and a 12-month high of $138.61. The stock has a market cap of $43.62 billion, a PE ratio of 1,095.42 and a beta of 1.15. The company has a debt-to-equity ratio of 0.37, a current ratio of 3.17 and a quick ratio of 3.17. The company’s 50 day moving average is $125.25 and its 200 day moving average is $117.39.

Datadog (NASDAQ:DDOG) last released its quarterly earnings data on Tuesday, February 13th. The company reported $0.44 EPS for the quarter, beating analysts’ consensus estimates of $0.43 by $0.01. Datadog had a return on equity of 3.79% and a net margin of 2.28%. The business had revenue of $589.65 million for the quarter, compared to the consensus estimate of $568.73 million. During the same quarter in the prior year, the business posted ($0.08) EPS. The business’s revenue for the quarter was up 25.6% on a year-over-year basis. Equities analysts anticipate that Datadog, Inc. will post -0.14 EPS for the current fiscal year.

Insider Activity

In other news, President Amit Agarwal sold 33,311 shares of the stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $128.58, for a total value of $4,283,128.38. Following the transaction, the president now owns 294,012 shares in the company, valued at approximately $37,804,062.96. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, President Amit Agarwal sold 33,311 shares of the company’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $128.58, for a total value of $4,283,128.38. Following the completion of the sale, the president now directly owns 294,012 shares of the company’s stock, valued at approximately $37,804,062.96. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Olivier Pomel sold 23,924 shares of the company’s stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of $130.05, for a total value of $3,111,316.20. Following the completion of the sale, the chief executive officer now directly owns 337,247 shares of the company’s stock, valued at $43,858,972.35. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 759,908 shares of company stock worth $97,728,997. 14.97% of the stock is currently owned by insiders.

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.