Dimensional Fund Advisors LP Boosts Stock Position in Datadog, Inc. (NASDAQ:DDOG)

Dimensional Fund Advisors LP grew its holdings in shares of Datadog, Inc. (NASDAQ:DDOG) by 10.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 306,402 shares of the company’s stock after buying an additional 29,890 shares during the quarter. Dimensional Fund Advisors LP owned 0.09% of Datadog worth $39,735,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. boosted its stake in Datadog by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 27,431,107 shares of the company’s stock valued at $3,390,485,000 after acquiring an additional 171,693 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its position in shares of Datadog by 9.2% during the second quarter. Massachusetts Financial Services Co. MA now owns 3,944,943 shares of the company’s stock worth $511,620,000 after purchasing an additional 331,808 shares during the last quarter. 1832 Asset Management L.P. grew its stake in Datadog by 47.9% in the fourth quarter. 1832 Asset Management L.P. now owns 2,619,500 shares of the company’s stock worth $317,955,000 after purchasing an additional 848,000 shares in the last quarter. Allspring Global Investments Holdings LLC increased its holdings in Datadog by 19.3% in the second quarter. Allspring Global Investments Holdings LLC now owns 1,068,070 shares of the company’s stock valued at $138,518,000 after buying an additional 172,887 shares during the last quarter. Finally, Kodai Capital Management LP acquired a new stake in Datadog during the first quarter valued at approximately $116,054,000. Institutional investors and hedge funds own 78.29% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently weighed in on DDOG. Scotiabank lowered their price target on Datadog from $145.00 to $135.00 and set a “sector outperform” rating for the company in a report on Friday, August 9th. Evercore ISI started coverage on shares of Datadog in a report on Monday, July 15th. They set an “outperform” rating and a $150.00 target price on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $151.00 price target on shares of Datadog in a report on Friday, August 9th. Monness Crespi & Hardt raised shares of Datadog from a “sell” rating to a “neutral” rating in a research report on Wednesday, August 7th. Finally, UBS Group raised their target price on shares of Datadog from $120.00 to $125.00 and gave the stock a “neutral” rating in a report on Friday, August 9th. Four investment 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, the company has an average rating of “Moderate Buy” and an average price target of $139.88.

Insider Buying and Selling

In other Datadog news, CEO Olivier Pomel sold 85,637 shares of the company’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 transaction, the chief executive officer now owns 405,314 shares in the company, valued at approximately $42,237,771.94. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, CEO Olivier Pomel sold 85,637 shares of the business’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 transaction, the chief executive officer now directly owns 405,314 shares in the company, valued at approximately $42,237,771.94. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CTO Alexis Le-Quoc sold 127,105 shares of the company’s stock in a transaction on Monday, August 12th. The stock was sold at an average price of $111.66, for a total transaction of $14,192,544.30. Following the completion of the transaction, the chief technology officer now directly owns 347,684 shares in the company, valued at $38,822,395.44. The disclosure for this sale can be found here. Over the last three months, insiders sold 422,991 shares of company stock worth $50,448,980. 11.78% of the stock is owned by company insiders.

Datadog Trading Up 0.8 %

Shares of DDOG opened at $115.06 on Tuesday. Datadog, Inc. has a 1-year low of $77.81 and a 1-year high of $138.61. The stock has a market capitalization of $38.49 billion, a P/E ratio of 359.56, a P/E/G ratio of 28.94 and a beta of 1.11. The business’s 50-day moving average price is $113.69 and its 200 day moving average price is $119.27.

Datadog (NASDAQ:DDOG) last issued its earnings results on Thursday, August 8th. The company reported $0.43 EPS for the quarter, topping the consensus estimate of $0.37 by $0.06. The business had revenue of $645.28 million during the quarter, compared to analysts’ expectations of $624.92 million. Datadog had a return on equity of 9.01% and a net margin of 6.81%. Datadog’s revenue was up 26.7% compared to the same quarter last year. During the same quarter last year, the firm posted $0.36 earnings per share. On average, research analysts predict that Datadog, Inc. will post 0.42 earnings per share for the current 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.