Metis Global Partners LLC bought a new stake in Datadog, Inc. (NASDAQ:DDOG – Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 3,889 shares of the company’s stock, valued at approximately $283,000.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in DDOG. Norges Bank purchased a new stake in shares of Datadog during the fourth quarter worth $202,877,000. WCM Investment Management LLC increased its holdings in Datadog by 110.9% in the fourth quarter. WCM Investment Management LLC now owns 4,902,125 shares of the company’s stock valued at $360,306,000 after buying an additional 2,577,508 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in Datadog by 104.8% in the first quarter. Arrowstreet Capital Limited Partnership now owns 2,084,788 shares of the company’s stock valued at $315,783,000 after buying an additional 1,066,716 shares during the last quarter. Sands Capital Management LLC increased its holdings in Datadog by 31.1% in the fourth quarter. Sands Capital Management LLC now owns 4,066,310 shares of the company’s stock valued at $298,874,000 after buying an additional 965,045 shares during the last quarter. Finally, Voya Investment Management LLC increased its holdings in Datadog by 17.8% in the fourth quarter. Voya Investment Management LLC now owns 6,253,252 shares of the company’s stock valued at $459,614,000 after buying an additional 945,516 shares during the last quarter. Hedge funds and other institutional investors own 67.25% of the company’s stock.
Datadog Price Performance
Shares of NASDAQ:DDOG opened at $89.44 on Friday. The company has a quick ratio of 3.19, a current ratio of 3.41 and a debt-to-equity ratio of 0.45. The company has a market cap of $28.79 billion, a P/E ratio of -344.00 and a beta of 0.95. Datadog, Inc. has a 52 week low of $61.34 and a 52 week high of $118.02. The company has a 50-day moving average price of $101.65 and a 200 day moving average price of $85.13.
Insider Buying and Selling at Datadog
In other Datadog news, CEO Olivier Pomel sold 85,637 shares of the stock in a transaction dated Wednesday, August 9th. The shares were sold at an average price of $86.20, for a total value of $7,381,909.40. Following the completion of the transaction, the chief executive officer now directly owns 336,486 shares of the company’s stock, valued at $29,005,093.20. The sale was disclosed in a filing with the SEC, which is available at this link. In other news, CFO David M. Obstler sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 25th. The shares were sold at an average price of $116.34, for a total transaction of $1,163,400.00. Following the completion of the transaction, the chief financial officer now directly owns 275,218 shares of the company’s stock, valued at approximately $32,018,862.12. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Olivier Pomel sold 85,637 shares of the firm’s stock in a transaction that occurred on Wednesday, August 9th. The stock was sold at an average price of $86.20, for a total transaction of $7,381,909.40. Following the transaction, the chief executive officer now directly owns 336,486 shares of the company’s stock, valued at $29,005,093.20. The disclosure for this sale can be found here. Over the last three months, insiders sold 707,586 shares of company stock valued at $70,143,470. Corporate insiders own 14.97% of the company’s stock.
Wall Street Analysts Forecast Growth
DDOG has been the subject of several research analyst reports. William Blair restated an “outperform” rating on shares of Datadog in a research note on Friday, May 5th. Jefferies Financial Group upped their price objective on shares of Datadog from $85.00 to $90.00 in a research note on Thursday, May 4th. JPMorgan Chase & Co. decreased their price objective on shares of Datadog from $100.00 to $90.00 and set a “neutral” rating for the company in a research note on Wednesday. Canaccord Genuity Group upped their price objective on shares of Datadog from $90.00 to $95.00 and gave the company a “buy” rating in a research note on Thursday. Finally, Credit Suisse Group restated an “outperform” rating and issued a $125.00 price objective on shares of Datadog in a research note on Wednesday. Six research analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $106.48.
View Our Latest Stock Analysis on Datadog
Datadog Profile
Datadog, Inc operates an observability and security platform for cloud applications in North America and internationally. The company's products include infrastructure and application performance monitoring, log management, digital experience monitoring, continuous profiler, database monitoring, network monitoring, incident management, observability pipelines, cloud cost management, universal service monitoring, cloud security management, application security management.
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