Kayne Anderson Rudnick Investment Management LLC Has $44 Million Stock Holdings in Datadog, Inc. (NASDAQ:DDOG)

Kayne Anderson Rudnick Investment Management LLC lowered its holdings in shares of Datadog, Inc. (NASDAQ:DDOG) by 3.5% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 339,274 shares of the company’s stock after selling 12,406 shares during the period. Kayne Anderson Rudnick Investment Management LLC’s holdings in Datadog were worth $44,000,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in DDOG. Kodai Capital Management LP acquired a new position in shares of Datadog during the first quarter valued at about $116,054,000. 1832 Asset Management L.P. raised its stake in Datadog by 47.9% during the 4th quarter. 1832 Asset Management L.P. now owns 2,619,500 shares of the company’s stock worth $317,955,000 after buying an additional 848,000 shares during the period. DNB Asset Management AS raised its stake in Datadog by 1,974.5% during the 2nd quarter. DNB Asset Management AS now owns 847,600 shares of the company’s stock worth $109,925,000 after buying an additional 806,741 shares during the period. Thrivent Financial for Lutherans boosted its holdings in Datadog by 1,597.9% in the second quarter. Thrivent Financial for Lutherans now owns 785,261 shares of the company’s stock worth $101,841,000 after acquiring an additional 739,011 shares in the last quarter. Finally, Vanguard Group Inc. grew its stake in Datadog by 2.8% in the fourth quarter. Vanguard Group Inc. now owns 27,259,414 shares of the company’s stock valued at $3,308,748,000 after acquiring an additional 734,539 shares during the period. 78.29% of the stock is currently owned by institutional investors.

Datadog Stock Down 0.7 %

Shares of DDOG stock opened at $114.76 on Friday. The firm has a market cap of $38.39 billion, a P/E ratio of 358.63, a PEG ratio of 27.84 and a beta of 1.11. The company has a 50 day moving average of $114.64 and a 200-day moving average of $119.60. Datadog, Inc. has a 12-month low of $77.81 and a 12-month high of $138.61.

Datadog (NASDAQ:DDOG) last issued its quarterly earnings results 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 return on equity of 9.01% and a net margin of 6.81%. The firm had revenue of $645.28 million for the quarter, compared to analysts’ expectations of $624.92 million. During the same quarter in the prior year, the firm earned $0.36 EPS. The business’s revenue for the quarter was up 26.7% compared to the same quarter last year. As a group, equities analysts expect that Datadog, Inc. will post 0.41 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Olivier Pomel sold 85,637 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $104.21, for a total value of $8,924,231.77. Following the sale, the chief executive officer now owns 405,314 shares of the company’s stock, valued at $42,237,771.94. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, CEO Olivier Pomel sold 85,637 shares of Datadog stock in a transaction on 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 transaction, the chief executive officer now directly owns 405,314 shares in the company, valued at $42,237,771.94. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Madre Armelle De sold 1,749 shares of the firm’s stock in a transaction dated Thursday, June 27th. The stock was sold at an average price of $125.00, for a total value of $218,625.00. Following the completion of the transaction, the insider now owns 92,025 shares of the company’s stock, valued at approximately $11,503,125. The disclosure for this sale can be found here. Insiders sold 561,997 shares of company stock worth $68,517,631 over the last quarter. 11.78% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. Wedbush reiterated an “outperform” rating and issued a $155.00 target price on shares of Datadog in a report on Friday, August 9th. Mizuho raised shares of Datadog from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $135.00 to $155.00 in a research note on Tuesday, July 16th. Evercore ISI initiated coverage on shares of Datadog in a research report on Monday, July 15th. They set an “outperform” rating and a $150.00 target price for the company. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $150.00 price target on shares of Datadog in a research report on Monday, July 22nd. Finally, BTIG Research raised Datadog from a “neutral” rating to a “buy” rating and set a $143.00 price objective for the company in a report on Thursday, August 1st. Four 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. Based on data from MarketBeat.com, Datadog presently has an average rating of “Moderate Buy” and a consensus target price of $139.88.

Datadog Company 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.