Acadian Asset Management LLC Buys 67,048 Shares of Datadog, Inc. (NASDAQ:DDOG)

Acadian Asset Management LLC lifted its stake in shares of Datadog, Inc. (NASDAQ:DDOG) by 472.8% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 81,228 shares of the company’s stock after purchasing an additional 67,048 shares during the quarter. Acadian Asset Management LLC’s holdings in Datadog were worth $10,528,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Principal Securities Inc. acquired a new stake in Datadog during the fourth quarter worth about $326,000. QRG Capital Management Inc. boosted its position in shares of Datadog by 68.4% during the 4th quarter. QRG Capital Management Inc. now owns 7,665 shares of the company’s stock worth $930,000 after acquiring an additional 3,113 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Datadog by 12.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 254,076 shares of the company’s stock worth $30,842,000 after acquiring an additional 28,394 shares in the last quarter. Avantax Advisory Services Inc. increased its stake in Datadog by 32.6% in the fourth quarter. Avantax Advisory Services Inc. now owns 4,729 shares of the company’s stock valued at $574,000 after acquiring an additional 1,162 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA raised its position in Datadog by 31.3% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 2,733,448 shares of the company’s stock valued at $331,786,000 after purchasing an additional 651,244 shares in the last quarter. Institutional investors own 78.29% of the company’s stock.

Datadog Stock Performance

NASDAQ:DDOG opened at $108.12 on Wednesday. Datadog, Inc. has a 52 week low of $77.81 and a 52 week high of $138.61. The firm’s fifty day moving average is $117.49 and its 200-day moving average is $120.52. The firm has a market cap of $36.17 billion, a P/E ratio of 337.88, a P/E/G ratio of 27.25 and a beta of 1.11.

Datadog (NASDAQ:DDOG) last released its earnings results on Thursday, August 8th. The company reported $0.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.06. Datadog had a net margin of 6.81% and a return on equity of 9.01%. The business had revenue of $645.28 million for the quarter, compared to analyst estimates of $624.92 million. During the same quarter in the previous year, the business earned $0.36 earnings per share. Datadog’s revenue for the quarter was up 26.7% on a year-over-year basis. As a group, sell-side analysts anticipate that Datadog, Inc. will post 0.41 earnings per share for the current year.

Insider Buying and Selling

In other Datadog news, CTO Alexis Le-Quoc sold 127,105 shares of Datadog stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $111.66, for a total value of $14,192,544.30. Following the completion of the sale, the chief technology officer now directly owns 347,684 shares in the company, valued at $38,822,395.44. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Datadog news, CTO Alexis Le-Quoc sold 127,105 shares of the firm’s stock in a transaction on Monday, August 12th. The shares were sold at an average price of $111.66, for a total value of $14,192,544.30. Following the completion of the sale, the chief technology officer now directly owns 347,684 shares in the company, valued at $38,822,395.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Olivier Pomel sold 85,637 shares of Datadog stock in a transaction on Monday, August 5th. The shares were 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 $42,237,771.94. The disclosure for this sale can be found here. Insiders sold 571,156 shares of company stock valued at $69,718,481 over the last 90 days. Company insiders own 11.78% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on DDOG shares. Barclays reduced their target price on Datadog from $145.00 to $140.00 and set an “overweight” rating on the stock in a report on Friday, August 9th. BTIG Research raised Datadog from a “neutral” rating to a “buy” rating and set a $143.00 price objective on the stock in a research note on Thursday, August 1st. Monness Crespi & Hardt raised Datadog from a “sell” rating to a “neutral” rating in a research note on Wednesday, August 7th. Cantor Fitzgerald reissued an “overweight” rating and issued a $150.00 target price on shares of Datadog in a report on Monday, July 22nd. Finally, Scotiabank decreased 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. Four investment analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Datadog has a consensus rating of “Moderate Buy” and an average target price of $139.88.

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.