Ensign Peak Advisors Inc Has $130.80 Million Position in Datadog, Inc. (NASDAQ:DDOG)

Ensign Peak Advisors Inc reduced its position in shares of Datadog, Inc. (NASDAQ:DDOG) by 13.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,008,539 shares of the company’s stock after selling 159,442 shares during the quarter. Ensign Peak Advisors Inc’s holdings in Datadog were worth $130,797,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Riverview Trust Co purchased a new position in shares of Datadog during the 1st quarter valued at $26,000. SouthState Corp bought a new stake in Datadog in the second quarter worth $26,000. Raleigh Capital Management Inc. bought a new stake in Datadog in the fourth quarter worth $29,000. Jones Financial Companies Lllp bought a new stake in Datadog in the fourth quarter worth $33,000. Finally, Quest Partners LLC bought a new stake in Datadog in the fourth quarter worth $36,000. 78.29% of the stock is currently owned by hedge funds and other institutional investors.

Datadog Price Performance

DDOG opened at $114.76 on Friday. Datadog, Inc. has a one year low of $77.81 and a one year high of $138.61. The company’s 50 day simple moving average is $114.64 and its 200-day simple moving average is $119.62. The stock has a market capitalization of $38.39 billion, a P/E ratio of 358.63, a price-to-earnings-growth ratio of 27.84 and a beta of 1.11.

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

Insider Buying and Selling at Datadog

In related news, General Counsel Kerry Acocella sold 5,955 shares of the company’s stock in a transaction on Monday, June 24th. The shares were sold at an average price of $120.09, for a total value of $715,135.95. Following the completion of the transaction, the general counsel now directly owns 85,787 shares of the company’s stock, valued at approximately $10,302,160.83. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Datadog news, CRO Sean Michael Walters sold 2,351 shares of the business’s stock in a transaction dated Thursday, June 27th. The shares were sold at an average price of $125.00, for a total transaction of $293,875.00. Following the sale, the executive now directly owns 197,421 shares of the company’s stock, valued at approximately $24,677,625. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, General Counsel Kerry Acocella sold 5,955 shares of the business’s stock in a transaction dated Monday, June 24th. The stock was sold at an average price of $120.09, for a total transaction of $715,135.95. Following the sale, the general counsel now directly owns 85,787 shares in the company, valued at $10,302,160.83. The disclosure for this sale can be found here. In the last 90 days, insiders sold 561,997 shares of company stock worth $68,517,631. Insiders own 11.78% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on DDOG. Needham & Company LLC decreased their price objective on shares of Datadog from $165.00 to $140.00 and set a “buy” rating for the company in a report on Friday, August 9th. UBS Group upped their price target on shares of Datadog from $120.00 to $125.00 and gave the company a “neutral” rating in a report on Friday, August 9th. BMO Capital Markets decreased their price target on shares of Datadog from $140.00 to $132.00 and set an “outperform” rating for the company in a report on Friday, August 9th. Mizuho upgraded shares of Datadog from a “neutral” rating to an “outperform” rating and upped their price target for the company from $135.00 to $155.00 in a report on Tuesday, July 16th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $150.00 price target on shares of Datadog in a report on Monday, July 22nd. Four investment analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $139.88.

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.