Clearbridge Investments LLC Acquires 12,785 Shares of Datadog, Inc. (NASDAQ:DDOG)

Clearbridge Investments LLC lifted its holdings in Datadog, Inc. (NASDAQ:DDOG) by 5.2% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 259,107 shares of the company’s stock after acquiring an additional 12,785 shares during the period. Clearbridge Investments LLC’s holdings in Datadog were worth $33,604,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of the business. Vanguard Group Inc. grew its position in shares of Datadog by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 27,431,107 shares of the company’s stock worth $3,390,485,000 after purchasing an additional 171,693 shares in the last quarter. Massachusetts Financial Services Co. MA grew its position in 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 buying an additional 331,808 shares in the last quarter. 1832 Asset Management L.P. increased its stake in Datadog by 5.9% during the 2nd quarter. 1832 Asset Management L.P. now owns 2,486,600 shares of the company’s stock worth $322,487,000 after acquiring an additional 138,700 shares during the period. Allspring Global Investments Holdings LLC increased its stake in Datadog by 19.3% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 1,068,070 shares of the company’s stock worth $138,518,000 after acquiring an additional 172,887 shares during the period. Finally, Kodai Capital Management LP acquired a new position in Datadog in the 1st quarter valued at $116,054,000. 78.29% of the stock is owned by institutional investors.

Insider Transactions at Datadog

In other Datadog news, CEO Olivier Pomel sold 85,637 shares of the stock in a transaction that occurred 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 sale, the chief executive officer now owns 405,314 shares of the company’s stock, valued at approximately $42,237,771.94. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Datadog news, CEO Olivier Pomel sold 85,637 shares of the company’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 sale, the chief executive officer now 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 Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Matthew Jacobson sold 9,256 shares of the 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 sale, the director now owns 48,411 shares of the company’s stock, valued at $5,230,808.55. The disclosure for this sale can be found here. Insiders sold 422,991 shares of company stock worth $50,448,980 over the last ninety days. 11.78% of the stock is owned by insiders.

Datadog Stock Performance

DDOG stock opened at $117.53 on Friday. The company has a market capitalization of $39.31 billion, a P/E ratio of 367.28, a PEG ratio of 28.94 and a beta of 1.11. The company has a fifty day moving average price of $113.43 and a 200-day moving average price of $119.19. Datadog, Inc. has a 52-week low of $77.81 and a 52-week high of $138.61.

Datadog (NASDAQ:DDOG) last announced its earnings results on Thursday, August 8th. The company reported $0.43 earnings per share (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 analyst estimates of $624.92 million. Datadog had a return on equity of 9.01% and a net margin of 6.81%. Datadog’s revenue for the quarter was up 26.7% compared to the same quarter last year. During the same period last year, the company earned $0.36 EPS. As a group, sell-side analysts forecast that Datadog, Inc. will post 0.42 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

DDOG has been the topic of a number of recent analyst reports. Loop Capital restated a “buy” rating and issued a $160.00 price target on shares of Datadog in a research report on Friday, July 5th. UBS Group raised their target price on shares of Datadog from $120.00 to $125.00 and gave the company a “neutral” rating in a report on Friday, August 9th. Needham & Company LLC reduced their price target on shares of Datadog from $165.00 to $140.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. Royal Bank of Canada reissued an “outperform” rating and issued a $151.00 price objective on shares of Datadog in a research note on Friday, August 9th. Finally, DA Davidson upgraded Datadog from a “neutral” rating to a “buy” rating and upped their target price for the stock from $115.00 to $140.00 in a research note on Tuesday. Four equities research analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $140.85.

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.