abrdn plc Increases Stock Position in Datadog, Inc. (NASDAQ:DDOG)

abrdn plc lifted its holdings in shares of Datadog, Inc. (NASDAQ:DDOG) by 101.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 94,474 shares of the company’s stock after buying an additional 47,537 shares during the quarter. abrdn plc’s holdings in Datadog were worth $11,467,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the business. AM Squared Ltd increased its holdings in Datadog by 25.0% during the 4th quarter. AM Squared Ltd now owns 500 shares of the company’s stock worth $61,000 after acquiring an additional 100 shares during the period. Sunbelt Securities Inc. increased its holdings in Datadog by 5.3% during the 3rd quarter. Sunbelt Securities Inc. now owns 2,177 shares of the company’s stock worth $198,000 after acquiring an additional 110 shares during the period. Yousif Capital Management LLC increased its holdings in Datadog by 4.9% during the 3rd quarter. Yousif Capital Management LLC now owns 3,083 shares of the company’s stock worth $281,000 after acquiring an additional 145 shares during the period. Park Avenue Securities LLC increased its holdings in Datadog by 1.3% during the 3rd quarter. Park Avenue Securities LLC now owns 11,410 shares of the company’s stock worth $1,039,000 after acquiring an additional 146 shares during the period. Finally, Flagship Harbor Advisors LLC increased its holdings in Datadog by 6.9% during the 3rd quarter. Flagship Harbor Advisors LLC now owns 2,339 shares of the company’s stock worth $213,000 after acquiring an additional 150 shares during the period. 78.29% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Datadog

In other news, CEO Olivier Pomel sold 23,924 shares of the firm’s stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of $130.05, for a total value of $3,111,316.20. Following the completion of the sale, the chief executive officer now directly owns 337,247 shares of the company’s stock, valued at approximately $43,858,972.35. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, CEO Olivier Pomel sold 23,924 shares of the stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of $130.05, for a total value of $3,111,316.20. Following the completion of the transaction, the chief executive officer now directly owns 337,247 shares in the company, valued at approximately $43,858,972.35. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CTO Alexis Le-Quoc sold 127,105 shares of the stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $135.10, for a total transaction of $17,171,885.50. Following the completion of the transaction, the chief technology officer now owns 247,328 shares of the company’s stock, valued at $33,414,012.80. The disclosure for this sale can be found here. In the last ninety days, insiders sold 759,908 shares of company stock valued at $97,728,997. Company insiders own 14.97% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on DDOG. Needham & Company LLC upped their target price on shares of Datadog from $125.00 to $165.00 and gave the stock a “buy” rating in a report on Tuesday, February 13th. Canaccord Genuity Group reissued a “buy” rating and issued a $150.00 price target on shares of Datadog in a report on Friday, February 23rd. Robert W. Baird increased their price target on shares of Datadog from $120.00 to $130.00 and gave the stock a “neutral” rating in a report on Wednesday, February 14th. Cantor Fitzgerald reissued an “overweight” rating and issued a $150.00 price target on shares of Datadog in a report on Wednesday, April 17th. Finally, BMO Capital Markets reissued an “outperform” rating and issued a $155.00 price target (up previously from $140.00) on shares of Datadog in a report on Wednesday, February 14th. Five investment analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the stock. According to MarketBeat, Datadog has a consensus rating of “Moderate Buy” and an average target price of $131.70.

Datadog Trading Down 1.4 %

Shares of DDOG opened at $125.25 on Friday. The stock has a market capitalization of $41.57 billion, a P/E ratio of 1,043.75 and a beta of 1.15. The company has a quick ratio of 3.17, a current ratio of 3.17 and a debt-to-equity ratio of 0.37. The firm has a fifty day simple moving average of $125.21 and a two-hundred day simple moving average of $116.73. Datadog, Inc. has a twelve month low of $63.00 and a twelve month high of $138.61.

Datadog (NASDAQ:DDOG) last announced its quarterly earnings results on Tuesday, February 13th. The company reported $0.44 earnings per share for the quarter, beating the consensus estimate of $0.43 by $0.01. The business had revenue of $589.65 million during the quarter, compared to analysts’ expectations of $568.73 million. Datadog had a net margin of 2.28% and a return on equity of 3.79%. The firm’s revenue for the quarter was up 25.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.08) EPS. On average, research analysts anticipate that Datadog, Inc. will post -0.14 EPS for the current 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.