Newbridge Financial Services Group Inc. Raises Stake in Datadog, Inc. (NASDAQ:DDOG)

Newbridge Financial Services Group Inc. boosted its holdings in shares of Datadog, Inc. (NASDAQ:DDOG) by 23.8% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 4,402 shares of the company’s stock after buying an additional 847 shares during the quarter. Newbridge Financial Services Group Inc.’s holdings in Datadog were worth $571,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of DDOG. Allianz Asset Management GmbH raised its holdings in shares of Datadog by 9.5% during the fourth quarter. Allianz Asset Management GmbH now owns 16,485 shares of the company’s stock worth $2,001,000 after purchasing an additional 1,432 shares during the last quarter. Scotia Capital Inc. purchased a new position in shares of Datadog during the 4th quarter valued at about $204,000. California State Teachers Retirement System lifted its holdings in shares of Datadog by 1.9% in the 4th quarter. California State Teachers Retirement System now owns 396,776 shares of the company’s stock valued at $48,161,000 after buying an additional 7,493 shares during the period. Jones Financial Companies Lllp purchased a new stake in shares of Datadog in the fourth quarter worth about $33,000. Finally, CIBC Asset Management Inc boosted its stake in shares of Datadog by 3.1% in the fourth quarter. CIBC Asset Management Inc now owns 51,430 shares of the company’s stock worth $6,243,000 after buying an additional 1,569 shares during the last quarter. 78.29% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Datadog

In other news, CEO Olivier Pomel sold 85,637 shares of the business’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $104.21, for a total transaction of $8,924,231.77. Following the completion of the transaction, the chief executive officer now directly owns 405,314 shares of the company’s stock, valued at $42,237,771.94. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other Datadog news, CEO Olivier Pomel sold 85,637 shares of Datadog stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $104.21, for a total transaction of $8,924,231.77. Following the completion of the sale, the chief executive officer now directly owns 405,314 shares of the company’s stock, valued at approximately $42,237,771.94. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Matthew Jacobson sold 9,256 shares of the stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $108.05, for a total transaction of $1,000,110.80. Following the completion of the transaction, the director now owns 48,411 shares in the company, valued at $5,230,808.55. The disclosure for this sale can be found here. Insiders have sold 422,991 shares of company stock valued at $50,448,980 in the last quarter. Corporate insiders own 11.78% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on DDOG. Cantor Fitzgerald reissued an “overweight” rating and issued a $150.00 price target on shares of Datadog in a report on Monday, July 22nd. Loop Capital reiterated a “buy” rating and issued a $160.00 target price on shares of Datadog in a research note on Friday, July 5th. Scotiabank lowered their price target on shares of Datadog from $145.00 to $135.00 and set a “sector outperform” rating on the stock in a report on Friday, August 9th. UBS Group lifted their price objective on shares of Datadog from $120.00 to $125.00 and gave the company a “neutral” rating in a report on Friday, August 9th. Finally, Barclays lowered their target price on shares of Datadog from $145.00 to $140.00 and set an “overweight” rating on the stock in a research note on Friday, August 9th. Four research analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $139.89.

Datadog Stock Performance

Shares of DDOG stock opened at $113.98 on Wednesday. The stock has a market capitalization of $38.13 billion, a P/E ratio of 356.19, a price-to-earnings-growth ratio of 28.94 and a beta of 1.11. Datadog, Inc. has a fifty-two week low of $77.81 and a fifty-two week high of $138.61. The company has a 50 day moving average price of $113.51 and a 200 day moving average price of $119.22.

Datadog (NASDAQ:DDOG) last posted its quarterly earnings data on Thursday, August 8th. The company reported $0.43 earnings per share for the quarter, topping analysts’ consensus estimates of $0.37 by $0.06. The business had revenue of $645.28 million for the quarter, compared to analyst estimates of $624.92 million. Datadog had a return on equity of 9.01% and a net margin of 6.81%. The company’s revenue was up 26.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.36 earnings per share. On average, research analysts forecast that Datadog, Inc. will post 0.42 EPS for the current fiscal year.

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.