Midwest Trust Co Purchases Shares of 41,867 Datadog, Inc. $DDOG

Midwest Trust Co purchased a new position in Datadog, Inc. (NASDAQ:DDOG) in the 2nd quarter, HoldingsChannel reports. The fund purchased 41,867 shares of the company’s stock, valued at approximately $5,624,000.

Other hedge funds have also modified their holdings of the company. Goldman Sachs Group Inc. grew its stake in Datadog by 259.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 8,658,340 shares of the company’s stock worth $858,994,000 after purchasing an additional 6,250,942 shares in the last quarter. Baillie Gifford & Co. raised its position in Datadog by 12.6% in the 1st quarter. Baillie Gifford & Co. now owns 12,274,655 shares of the company’s stock valued at $1,217,769,000 after purchasing an additional 1,369,522 shares in the last quarter. Kingstone Capital Partners Texas LLC purchased a new position in shares of Datadog in the 2nd quarter valued at about $177,050,000. Price T Rowe Associates Inc. MD grew its position in shares of Datadog by 23.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 6,729,254 shares of the company’s stock worth $667,611,000 after buying an additional 1,261,065 shares in the last quarter. Finally, Alyeska Investment Group L.P. purchased a new stake in shares of Datadog during the first quarter worth approximately $112,593,000. 78.29% of the stock is currently owned by institutional investors and hedge funds.

Datadog Price Performance

Shares of NASDAQ:DDOG opened at $191.24 on Monday. Datadog, Inc. has a 12 month low of $81.63 and a 12 month high of $194.87. The firm has a market capitalization of $66.69 billion, a P/E ratio of 616.90, a P/E/G ratio of 54.29 and a beta of 1.20. The company has a debt-to-equity ratio of 0.29, a current ratio of 3.66 and a quick ratio of 3.43. The company’s fifty day moving average price is $149.87 and its 200 day moving average price is $135.21.

Datadog (NASDAQ:DDOG) last issued its quarterly earnings data on Thursday, November 6th. The company reported $0.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.45 by $0.10. Datadog had a return on equity of 4.14% and a net margin of 3.32%.The company had revenue of $885.65 million for the quarter, compared to analyst estimates of $852.77 million. During the same quarter last year, the company posted $0.46 earnings per share. The business’s quarterly revenue was up 28.4% compared to the same quarter last year. Datadog has set its FY 2025 guidance at 2.000-2.020 EPS. Q4 2025 guidance at 0.54-0.56 EPS. As a group, sell-side analysts predict that Datadog, Inc. will post 0.34 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Guggenheim set a $105.00 price target on shares of Datadog in a research note on Thursday. Rosenblatt Securities raised their price objective on shares of Datadog from $170.00 to $200.00 and gave the company a “buy” rating in a report on Thursday. Macquarie lifted their price objective on shares of Datadog from $175.00 to $220.00 and gave the stock an “outperform” rating in a research report on Friday. Wells Fargo & Company increased their target price on Datadog from $190.00 to $230.00 and gave the company an “overweight” rating in a report on Friday. Finally, BTIG Research raised their price target on Datadog from $184.00 to $221.00 and gave the company a “buy” rating in a research note on Thursday. Thirty research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Datadog has an average rating of “Moderate Buy” and an average price target of $203.42.

Insider Activity at Datadog

In other news, CTO Alexis Le-Quoc sold 55,352 shares of Datadog stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $133.83, for a total value of $7,407,758.16. Following the transaction, the chief technology officer directly owned 438,885 shares of the company’s stock, valued at $58,735,979.55. The trade was a 11.20% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Matthew Jacobson sold 575,863 shares of the company’s stock in a transaction on Tuesday, August 26th. The shares were sold at an average price of $126.96, for a total transaction of $73,111,566.48. Following the completion of the sale, the director owned 219,831 shares of the company’s stock, valued at approximately $27,909,743.76. This trade represents a 72.37% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 1,477,313 shares of company stock valued at $203,047,262 over the last 90 days. 8.70% of the stock is owned by insiders.

About Datadog

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.