Paragon Advisors LLC acquired a new position in Datadog (NASDAQ:DDOG) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 7,688 shares of the company’s stock, valued at approximately $668,000.
Several other institutional investors have also added to or reduced their stakes in DDOG. State Street Corp acquired a new stake in shares of Datadog in the fourth quarter worth $544,000. Victory Capital Management Inc. increased its position in shares of Datadog by 14.5% in the fourth quarter. Victory Capital Management Inc. now owns 29,781 shares of the company’s stock worth $1,125,000 after acquiring an additional 3,781 shares in the last quarter. Charles Schwab Investment Management Inc. acquired a new stake in shares of Datadog in the fourth quarter worth $4,184,000. Envestnet Asset Management Inc. acquired a new stake in shares of Datadog in the fourth quarter worth $1,135,000. Finally, Westpac Banking Corp increased its position in shares of Datadog by 103.2% in the fourth quarter. Westpac Banking Corp now owns 25,394 shares of the company’s stock worth $959,000 after acquiring an additional 12,900 shares in the last quarter. 29.63% of the stock is owned by institutional investors.
Several equities research analysts have recently issued reports on DDOG shares. Needham & Company LLC increased their price objective on shares of Datadog from $58.00 to $70.00 and gave the stock a “buy” rating in a research report on Tuesday, May 12th. Oppenheimer reaffirmed a “hold” rating on shares of Datadog in a report on Monday, May 11th. DA Davidson initiated coverage on shares of Datadog in a report on Wednesday, April 15th. They set a “neutral” rating and a $38.00 price target for the company. Jefferies Financial Group raised their price target on shares of Datadog from $39.00 to $59.00 and gave the company a “hold” rating in a report on Tuesday, May 12th. Finally, William Blair reaffirmed a “buy” rating on shares of Datadog in a report on Thursday, June 18th. Eight equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Datadog has an average rating of “Buy” and a consensus target price of $68.77.
Shares of DDOG stock traded up $1.22 during trading hours on Tuesday, reaching $90.18. The stock had a trading volume of 102,115 shares, compared to its average volume of 4,880,897. The company has a debt-to-equity ratio of 0.06, a current ratio of 4.43 and a quick ratio of 4.43. Datadog has a twelve month low of $27.55 and a twelve month high of $93.00. The firm has a 50-day simple moving average of $78.16 and a 200-day simple moving average of $50.96. The firm has a market capitalization of $26.82 billion and a PE ratio of -601.47.
Datadog (NASDAQ:DDOG) last released its quarterly earnings data on Monday, May 11th. The company reported $0.06 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.03) by $0.09. The firm had revenue of $131.30 million during the quarter, compared to analyst estimates of $117.73 million. The firm’s revenue was up 87.4% on a year-over-year basis. On average, equities analysts anticipate that Datadog will post -0.02 earnings per share for the current year.
In other Datadog news, CEO Olivier Pomel sold 219,200 shares of the firm’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $70.41, for a total transaction of $15,433,872.00. Following the transaction, the chief executive officer now owns 382,821 shares of the company’s stock, valued at approximately $26,954,426.61. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Alexis Le-Quoc sold 384,200 shares of the firm’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $70.41, for a total transaction of $27,051,522.00. Following the transaction, the insider now directly owns 117,262 shares in the company, valued at approximately $8,256,417.42. The disclosure for this sale can be found here. In the last ninety days, insiders sold 2,171,966 shares of company stock worth $128,068,121. Corporate insiders own 26.06% of the company’s stock.
Datadog, Inc provides monitoring and analytics platform for developers, information technology operations teams, and business users in the cloud in North America and internationally. Its SaaS platform integrates and automates infrastructure monitoring, application performance monitoring, and log management to provide real-time observability of customers technology stack.
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