Congress Asset Management Co. MA Takes $1.08 Million Position in Datadog, Inc. (NASDAQ:DDOG)

Congress Asset Management Co. MA acquired a new stake in Datadog, Inc. (NASDAQ:DDOG) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 8,761 shares of the company’s stock, valued at approximately $1,083,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Spire Wealth Management lifted its stake in shares of Datadog by 2,148.5% in the 4th quarter. Spire Wealth Management now owns 5,329 shares of the company’s stock valued at $694,000 after purchasing an additional 5,092 shares in the last quarter. Hsbc Holdings PLC raised its holdings in shares of Datadog by 47.8% during the 4th quarter. Hsbc Holdings PLC now owns 193,390 shares of the company’s stock valued at $23,505,000 after buying an additional 62,533 shares during the period. Massachusetts Financial Services Co. MA raised its holdings in shares of Datadog by 31.3% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 2,733,448 shares of the company’s stock valued at $331,786,000 after buying an additional 651,244 shares during the period. Zevenbergen Capital Investments LLC raised its holdings in shares of Datadog by 5.6% during the 4th quarter. Zevenbergen Capital Investments LLC now owns 165,405 shares of the company’s stock valued at $20,077,000 after buying an additional 8,830 shares during the period. Finally, Jones Financial Companies Lllp purchased a new stake in shares of Datadog during the 4th quarter valued at about $33,000. 78.29% of the stock is owned by institutional investors and hedge funds.

Datadog Trading Up 1.3 %

NASDAQ:DDOG opened at $117.57 on Friday. Datadog, Inc. has a 12-month low of $77.81 and a 12-month high of $138.61. The firm has a market capitalization of $39.33 billion, a P/E ratio of 367.41, a P/E/G ratio of 45.23 and a beta of 1.09. The company has a debt-to-equity ratio of 0.34, a current ratio of 3.43 and a quick ratio of 3.43. The business has a 50 day simple moving average of $119.86 and a 200 day simple moving average of $122.84.

Datadog (NASDAQ:DDOG) last released its quarterly earnings data on Tuesday, May 7th. The company reported $0.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.20. Datadog had a return on equity of 7.48% and a net margin of 5.11%. The business had revenue of $611.25 million during the quarter, compared to analyst estimates of $589.97 million. Equities research analysts predict that Datadog, Inc. will post 0.27 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Baird R W upgraded Datadog from a “hold” rating to a “strong-buy” rating in a report on Wednesday, May 8th. Stifel Nicolaus reiterated a “buy” rating and set a $152.00 target price on shares of Datadog in a report on Monday, April 22nd. Cantor Fitzgerald reiterated an “overweight” rating and set a $150.00 target price on shares of Datadog in a report on Wednesday, April 17th. Wells Fargo & Company upgraded Datadog from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $130.00 to $150.00 in a report on Tuesday, April 23rd. Finally, Barclays dropped their price objective on Datadog from $152.00 to $145.00 and set an “overweight” rating on the stock in a report on Wednesday, May 8th. One analyst has rated the stock with a sell rating, four have issued a hold rating, twenty-five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Datadog has a consensus rating of “Moderate Buy” and a consensus target price of $136.04.

Insiders Place Their Bets

In other Datadog news, insider Madre Armelle De sold 600 shares of the business’s stock in a transaction on Monday, April 8th. The stock was sold at an average price of $125.34, for a total transaction of $75,204.00. Following the completion of the transaction, the insider now owns 100,353 shares in the company, valued at approximately $12,578,245.02. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Datadog news, Director Matthew Jacobson sold 18,415 shares of the business’s stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $119.52, for a total transaction of $2,200,960.80. Following the completion of the transaction, the director now owns 44,387 shares in the company, valued at approximately $5,305,134.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Madre Armelle De sold 600 shares of the business’s stock in a transaction on Monday, April 8th. The stock was sold at an average price of $125.34, for a total value of $75,204.00. Following the transaction, the insider now owns 100,353 shares of the company’s stock, valued at approximately $12,578,245.02. The disclosure for this sale can be found here. In the last quarter, insiders sold 694,236 shares of company stock worth $81,793,845. 11.78% of the stock is owned by company insiders.

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.