Parallel Advisors LLC Acquires 105 Shares of Datadog, Inc. (NASDAQ:DDOG)

Parallel Advisors LLC grew its position in Datadog, Inc. (NASDAQ:DDOG) by 3.5% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,076 shares of the company’s stock after buying an additional 105 shares during the quarter. Parallel Advisors LLC’s holdings in Datadog were worth $399,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in DDOG. Norges Bank acquired a new position in shares of Datadog in the 4th quarter valued at approximately $384,986,000. Kodai Capital Management LP acquired a new position in shares of Datadog in the 1st quarter valued at approximately $116,054,000. 1832 Asset Management L.P. raised its position in shares of Datadog by 47.9% in the 4th 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 in the last quarter. DNB Asset Management AS raised its position in shares of Datadog by 1,974.5% in the 2nd quarter. DNB Asset Management AS now owns 847,600 shares of the company’s stock valued at $109,925,000 after buying an additional 806,741 shares in the last quarter. Finally, Vanguard Group Inc. raised its position in shares of Datadog by 2.8% in the 4th quarter. Vanguard Group Inc. now owns 27,259,414 shares of the company’s stock valued at $3,308,748,000 after buying an additional 734,539 shares in the last quarter. 78.29% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. BMO Capital Markets dropped their target price on shares of Datadog from $140.00 to $132.00 and set an “outperform” rating for the company in a research report on Friday, August 9th. UBS Group upped their price objective on shares of Datadog from $120.00 to $125.00 and gave the stock a “neutral” rating in a research report on Friday, August 9th. Barclays lowered their price objective on shares of Datadog from $145.00 to $140.00 and set an “overweight” rating for the company in a research report on Friday, August 9th. Bank of America upgraded shares of Datadog from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $143.00 to $155.00 in a research report on Thursday, May 30th. Finally, Wedbush reiterated an “outperform” rating and set a $155.00 price objective on shares of Datadog in a research report on Friday, August 9th. Four research analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has issued 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 price target of $139.88.

Datadog Stock Performance

NASDAQ:DDOG opened at $111.93 on Wednesday. The firm’s fifty day moving average is $115.40 and its 200-day moving average is $119.81. Datadog, Inc. has a 52 week low of $77.81 and a 52 week high of $138.61. The firm has a market cap of $37.44 billion, a P/E ratio of 349.78, a P/E/G ratio of 27.84 and a beta of 1.11.

Datadog (NASDAQ:DDOG) last posted its quarterly earnings data on Thursday, August 8th. The company reported $0.43 EPS for the quarter, beating analysts’ consensus estimates of $0.37 by $0.06. Datadog had a net margin of 6.81% and a return on equity of 9.01%. The company had revenue of $645.28 million for the quarter, compared to analyst estimates of $624.92 million. During the same period in the prior year, the firm posted $0.36 EPS. The company’s quarterly revenue 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 related news, CEO Olivier Pomel sold 85,637 shares of the 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 transaction, the chief executive officer now directly owns 405,314 shares of the company’s stock, valued at $42,237,771.94. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, General Counsel Kerry Acocella sold 5,955 shares of the stock in a transaction on Monday, June 24th. The shares were sold at an average price of $120.09, for a total transaction of $715,135.95. Following the transaction, the general counsel now directly owns 85,787 shares of the company’s stock, valued at $10,302,160.83. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Olivier Pomel sold 85,637 shares of the firm’s 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 transaction, the chief executive officer now directly owns 405,314 shares in the company, valued at $42,237,771.94. The disclosure for this sale can be found here. Insiders have sold a total of 561,997 shares of company stock valued at $68,517,631 over the last ninety days. 11.78% of the stock is owned by corporate 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.