New Century Financial Group LLC Boosts Position in Datadog, Inc. (NASDAQ:DDOG)

New Century Financial Group LLC raised its stake in Datadog, Inc. (NASDAQ:DDOG) by 9.7% during the 1st quarter, HoldingsChannel.com reports. The firm owned 2,527 shares of the company’s stock after acquiring an additional 224 shares during the period. New Century Financial Group LLC’s holdings in Datadog were worth $312,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of Datadog in the fourth quarter valued at approximately $384,986,000. Vanguard Group Inc. increased its stake in Datadog by 4.7% in the third 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. 1832 Asset Management L.P. raised its holdings in shares of Datadog by 47.9% in the fourth quarter. 1832 Asset Management L.P. now owns 2,619,500 shares of the company’s stock valued at $317,955,000 after buying an additional 848,000 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its stake in shares of Datadog by 31.3% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 2,733,448 shares of the company’s stock worth $331,786,000 after buying an additional 651,244 shares during the period. Finally, Allspring Global Investments Holdings LLC grew its holdings in shares of Datadog by 47.5% during the first quarter. Allspring Global Investments Holdings LLC now owns 895,183 shares of the company’s stock worth $110,645,000 after buying an additional 288,257 shares during the last quarter. Institutional investors and hedge funds own 78.29% of the company’s stock.

Insider Activity

In related news, insider Madre Armelle De sold 300 shares of Datadog stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $113.37, for a total transaction of $34,011.00. Following the completion of the sale, the insider now owns 100,053 shares in the company, valued at approximately $11,343,008.61. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, COO Adam Blitzer sold 11,946 shares of the firm’s 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 sale, the chief operating officer now owns 236,640 shares in the company, valued at $25,900,248. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Madre Armelle De sold 300 shares of Datadog stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $113.37, for a total value of $34,011.00. Following the completion of the sale, the insider now directly owns 100,053 shares of the company’s stock, valued at approximately $11,343,008.61. The disclosure for this sale can be found here. Insiders have sold 833,242 shares of company stock worth $99,862,497 over the last three months. 11.78% of the stock is currently owned by corporate insiders.

Datadog Stock Down 0.2 %

Shares of NASDAQ DDOG opened at $131.50 on Friday. The firm’s 50-day moving average is $120.30 and its two-hundred day moving average is $123.46. The company has a market capitalization of $43.99 billion, a PE ratio of 410.94, a price-to-earnings-growth ratio of 43.30 and a beta of 1.11. Datadog, Inc. has a 12-month low of $77.81 and a 12-month 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:DDOG) last posted its earnings results 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. The firm had revenue of $611.25 million for the quarter, compared to analyst estimates of $589.97 million. Datadog had a return on equity of 7.48% and a net margin of 5.11%. Equities analysts anticipate that Datadog, Inc. will post 0.32 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts have weighed in on DDOG shares. Monness Crespi & Hardt reaffirmed a “sell” rating and set a $98.00 price objective (down from $290.00) on shares of Datadog in a research report on Friday, June 14th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $150.00 price objective on shares of Datadog in a research report on Wednesday, April 17th. Rosenblatt Securities restated a “buy” rating and issued a $146.00 target price on shares of Datadog in a research note on Monday, May 6th. Baird R W upgraded shares of Datadog from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, May 8th. Finally, Bank of America upgraded shares of Datadog from a “neutral” rating to a “buy” rating and raised their price objective for the company from $143.00 to $155.00 in a research report on Thursday, May 30th. 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 data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $136.04.

Datadog 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.