Hillsdale Investment Management Inc. Buys 4,300 Shares of Datadog, Inc. (NASDAQ:DDOG)

Hillsdale Investment Management Inc. lifted its stake in shares of Datadog, Inc. (NASDAQ:DDOG) by 2,205.1% in the 1st quarter, Holdings Channel reports. The fund owned 4,495 shares of the company’s stock after acquiring an additional 4,300 shares during the quarter. Hillsdale Investment Management Inc.’s holdings in Datadog were worth $556,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the stock. Vanguard Group Inc. increased its position in shares of Datadog by 0.6% during the first quarter. Vanguard Group Inc. now owns 27,431,107 shares of the company’s stock worth $3,390,485,000 after acquiring an additional 171,693 shares in the last quarter. Sands Capital Management LLC boosted its holdings in Datadog by 3.7% during the fourth quarter. Sands Capital Management LLC now owns 4,564,776 shares of the company’s stock worth $554,073,000 after purchasing an additional 162,108 shares during the last quarter. Norges Bank acquired a new position in Datadog during the fourth quarter worth $384,986,000. Massachusetts Financial Services Co. MA boosted 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 during the last quarter. Finally, 1832 Asset Management L.P. boosted its holdings in Datadog by 47.9% during the fourth quarter. 1832 Asset Management L.P. now owns 2,619,500 shares of the company’s stock worth $317,955,000 after purchasing an additional 848,000 shares during the last quarter. Institutional investors own 78.29% of the company’s stock.

Datadog Price Performance

DDOG stock traded up $3.29 during mid-day trading on Tuesday, hitting $124.51. The stock had a trading volume of 1,159,320 shares, compared to its average volume of 4,051,740. The firm has a fifty day simple moving average of $121.17 and a 200 day simple moving average of $123.98. 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. The firm has a market capitalization of $41.65 billion, a P/E ratio of 378.81, a P/E/G ratio of 39.19 and a beta of 1.11.

Datadog (NASDAQ:DDOG) last posted its quarterly earnings results on Tuesday, May 7th. The company reported $0.16 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.20. Datadog had a net margin of 5.11% and a return on equity of 7.48%. The company had revenue of $611.25 million for the quarter, compared to the consensus estimate of $589.97 million. As a group, research analysts forecast that Datadog, Inc. will post 0.32 EPS for the current year.

Insider Activity

In other news, Director Titilope Cole sold 2,210 shares of the firm’s stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $112.34, for a total value of $248,271.40. Following the sale, the director now directly owns 6,451 shares in the company, valued at approximately $724,705.34. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, CEO Olivier Pomel sold 200,993 shares of Datadog stock in a transaction that occurred on Monday, July 8th. The shares were 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 directly owns 324,539 shares in the company, valued at approximately $42,517,854.39. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Titilope Cole sold 2,210 shares of Datadog 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 in the company, valued at $724,705.34. The disclosure for this sale can be found here. In the last three months, insiders have sold 857,606 shares of company stock worth $103,799,779. Corporate insiders own 11.78% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently commented on DDOG shares. Bank of America upgraded shares of Datadog from a “neutral” rating to a “buy” rating and increased their target price for the stock from $143.00 to $155.00 in a report on Thursday, May 30th. Stifel Nicolaus restated a “buy” rating and set a $152.00 target price on shares of Datadog in a report on Monday, April 22nd. Rosenblatt Securities reiterated a “buy” rating and issued a $146.00 price target on shares of Datadog in a research note on Monday, May 6th. JMP Securities upgraded shares of Datadog to a “hold” rating in a research note on Wednesday, May 8th. Finally, Monness Crespi & Hardt reiterated a “sell” rating and issued a $98.00 price target (down previously from $290.00) on shares of Datadog in a research note on Friday, June 14th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, twenty-eight have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $138.21.

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.