Scotia Capital Inc. Takes Position in Datadog, Inc. (NASDAQ:DDOG)

Scotia Capital Inc. acquired a new position in Datadog, Inc. (NASDAQ:DDOGFree Report) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 1,680 shares of the company’s stock, valued at approximately $204,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in shares of Datadog in the fourth quarter valued at $384,986,000. Massachusetts Financial Services Co. MA acquired a new stake in Datadog during the 3rd quarter worth about $189,668,000. Alkeon Capital Management LLC purchased a new position in Datadog during the 3rd quarter valued at about $127,526,000. Vanguard Group Inc. increased its holdings in shares of Datadog by 4.7% in the 3rd quarter. Vanguard Group Inc. now owns 26,524,875 shares of the company’s stock valued at $2,416,151,000 after purchasing an additional 1,191,742 shares during the period. Finally, Westfield Capital Management Co. LP purchased a new stake in shares of Datadog in the third quarter worth approximately $44,939,000. 78.29% of the stock is currently owned by hedge funds and other institutional investors.

Datadog Trading Up 1.5 %

Shares of Datadog stock opened at $110.48 on Thursday. The company’s fifty day moving average price is $122.05 and its two-hundred day moving average price is $122.76. The firm has a market capitalization of $36.96 billion, a PE ratio of 345.25, a price-to-earnings-growth ratio of 42.60 and a beta of 1.09. Datadog, Inc. has a 52-week low of $77.81 and a 52-week high of $138.61. The company has a debt-to-equity ratio of 0.34, a current ratio of 3.43 and a quick ratio of 3.43.

Datadog (NASDAQ:DDOGGet Free Report) last posted its quarterly earnings results on Tuesday, May 7th. The company reported $0.16 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.04) by $0.20. The firm had revenue of $611.25 million during the quarter, compared to analyst estimates of $589.97 million. Datadog had a net margin of 5.11% and a return on equity of 7.48%. On average, analysts expect that Datadog, Inc. will post 0.27 EPS for the current year.

Insider Activity at Datadog

In other Datadog news, COO Adam Blitzer sold 11,946 shares of the stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $109.45, for a total transaction of $1,307,489.70. Following the completion of the transaction, the chief operating officer now directly owns 236,640 shares in the company, valued at $25,900,248. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO Olivier Pomel sold 98,690 shares of the stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $109.16, for a total transaction of $10,773,000.40. Following the sale, the chief executive officer now directly owns 324,539 shares in the company, valued at approximately $35,426,677.24. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, COO Adam Blitzer sold 11,946 shares of Datadog stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $109.45, for a total value of $1,307,489.70. Following the completion of the transaction, the chief operating officer now owns 236,640 shares of the company’s stock, valued at approximately $25,900,248. The disclosure for this sale can be found here. Insiders have sold a total of 637,669 shares of company stock valued at $76,562,935 in the last 90 days. 11.78% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research firms have issued reports on DDOG. Needham & Company LLC reiterated a “buy” rating and issued a $165.00 target price on shares of Datadog in a research report on Wednesday, May 15th. Cantor Fitzgerald reissued an “overweight” rating and set a $150.00 price objective on shares of Datadog in a research report on Wednesday, April 17th. Stifel Nicolaus restated a “buy” rating and issued a $152.00 target price on shares of Datadog in a research note on Monday, April 22nd. Baird R W raised Datadog from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, May 8th. Finally, Royal Bank of Canada boosted their price target on Datadog from $145.00 to $151.00 and gave the company an “outperform” rating in a research note on Wednesday, February 14th. Four research analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $137.50.

View Our Latest Report on Datadog

About Datadog

(Free Report)

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.

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Institutional Ownership by Quarter for Datadog (NASDAQ:DDOG)

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