Datadog, Inc. (NASDAQ:DDOG) Shares Purchased by Mercer Global Advisors Inc. ADV

Mercer Global Advisors Inc. ADV lifted its holdings in shares of Datadog, Inc. (NASDAQ:DDOG) by 156.3% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 9,208 shares of the company’s stock after buying an additional 5,615 shares during the period. Mercer Global Advisors Inc. ADV’s holdings in Datadog were worth $1,196,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of DDOG. Vanguard Group Inc. raised its position in Datadog by 0.6% in the first quarter. Vanguard Group Inc. now owns 27,431,107 shares of the company’s stock worth $3,390,485,000 after acquiring an additional 171,693 shares in the last quarter. Sands Capital Management LLC grew its stake in shares of Datadog by 3.7% during the 4th quarter. Sands Capital Management LLC now owns 4,564,776 shares of the company’s stock worth $554,073,000 after purchasing an additional 162,108 shares during the period. Massachusetts Financial Services Co. MA increased its holdings in shares of Datadog by 9.2% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 3,944,943 shares of the company’s stock valued at $511,620,000 after purchasing an additional 331,808 shares in the last quarter. 1832 Asset Management L.P. lifted its stake 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 purchasing an additional 848,000 shares during the period. Finally, Allspring Global Investments Holdings LLC boosted its holdings in Datadog by 19.3% during the second quarter. Allspring Global Investments Holdings LLC now owns 1,068,070 shares of the company’s stock worth $138,518,000 after buying an additional 172,887 shares in the last quarter. 78.29% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have issued reports 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 report on Friday, August 9th. Needham & Company LLC reduced their price objective on Datadog from $165.00 to $140.00 and set a “buy” rating for the company in a report on Friday, August 9th. Loop Capital reissued a “buy” rating and issued a $160.00 target price on shares of Datadog in a report on Friday, July 5th. Evercore ISI began coverage on Datadog in a research note on Monday, July 15th. They set an “outperform” rating and a $150.00 price target for the company. Finally, Mizuho raised shares of Datadog from a “neutral” rating to an “outperform” rating and increased their price objective for the company from $135.00 to $155.00 in a research note on Tuesday, July 16th. Four equities research analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $139.88.

Insider Activity at Datadog

In other Datadog news, Director Matthew Jacobson sold 9,256 shares of the business’s stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $108.05, for a total transaction of $1,000,110.80. Following the completion of the sale, the director now directly owns 48,411 shares in the company, valued at $5,230,808.55. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other Datadog news, Director Matthew Jacobson sold 9,256 shares of the firm’s stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $108.05, for a total value of $1,000,110.80. Following the transaction, the director now directly owns 48,411 shares of the company’s stock, valued at $5,230,808.55. 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 the company’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $104.21, for a total value 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 approximately $42,237,771.94. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 554,196 shares of company stock worth $67,580,459. Company insiders own 11.78% of the company’s stock.

Datadog Stock Up 0.9 %

Shares of NASDAQ DDOG opened at $117.31 on Wednesday. The stock has a market capitalization of $39.24 billion, a PE ratio of 366.59, a P/E/G ratio of 27.84 and a beta of 1.11. The firm has a fifty day moving average of $114.11 and a 200-day moving average of $119.49. Datadog, Inc. has a 52-week low of $77.81 and a 52-week high of $138.61.

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

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.