Datadog, Inc. (NASDAQ:DDOG) Stake Lifted by Allen Investment Management LLC

Allen Investment Management LLC grew its position in shares of Datadog, Inc. (NASDAQ:DDOG) by 1,889.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 48,702 shares of the company’s stock after acquiring an additional 46,254 shares during the quarter. Allen Investment Management LLC’s holdings in Datadog were worth $6,316,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of DDOG. Thoroughbred Financial Services LLC acquired a new stake in shares of Datadog in the second quarter valued at approximately $481,000. Parallel Advisors LLC lifted its holdings in shares of Datadog by 3.5% in the second quarter. Parallel Advisors LLC now owns 3,076 shares of the company’s stock valued at $399,000 after buying an additional 105 shares during the period. O Neil Global Advisors Inc. acquired a new position in Datadog during the second quarter worth about $272,000. Federated Hermes Inc. raised its position in Datadog by 6.7% in the second quarter. Federated Hermes Inc. now owns 524,585 shares of the company’s stock worth $68,033,000 after acquiring an additional 32,851 shares in the last quarter. Finally, Meeder Advisory Services Inc. lifted its holdings in Datadog by 50.2% in the 2nd quarter. Meeder Advisory Services Inc. now owns 3,587 shares of the company’s stock valued at $465,000 after acquiring an additional 1,199 shares during the last quarter. Institutional investors own 78.29% of the company’s stock.

Insider Buying and Selling at Datadog

In other news, CEO Olivier Pomel sold 200,993 shares of the stock in a transaction that occurred on Monday, July 8th. The shares were sold at an average price of $131.01, for a total transaction of $26,332,092.93. Following the sale, the chief executive officer now directly owns 324,539 shares of the company’s stock, valued at $42,517,854.39. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Olivier Pomel sold 200,993 shares of the company’s stock in a transaction dated Monday, July 8th. The stock was sold at an average price of $131.01, for a total value of $26,332,092.93. Following the completion of the sale, the chief executive officer now directly owns 324,539 shares of the company’s stock, valued at approximately $42,517,854.39. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CRO Sean Michael Walters sold 2,351 shares of Datadog stock in a transaction that occurred on Thursday, June 27th. The stock was sold at an average price of $125.00, for a total transaction of $293,875.00. Following the transaction, the executive now directly owns 197,421 shares in the company, valued at approximately $24,677,625. 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. 11.78% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts recently commented on the stock. BTIG Research upgraded shares of Datadog from a “neutral” rating to a “buy” rating and set a $143.00 target price on the stock in a report on Thursday, August 1st. UBS Group upped their price target on Datadog from $120.00 to $125.00 and gave the company a “neutral” rating in a report on Friday, August 9th. Loop Capital reissued a “buy” rating and set a $160.00 price objective on shares of Datadog in a research note on Friday, July 5th. Needham & Company LLC cut their target price on Datadog from $165.00 to $140.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. Finally, Wedbush restated an “outperform” rating and set a $155.00 price objective on shares of Datadog in a report on Friday, August 9th. Four research analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $139.88.

Datadog Trading Down 0.3 %

Shares of NASDAQ:DDOG opened at $109.26 on Friday. Datadog, Inc. has a 1-year low of $77.81 and a 1-year high of $138.61. The firm has a market capitalization of $36.55 billion, a PE ratio of 341.44, a PEG ratio of 27.84 and a beta of 1.11. The business’s 50 day moving average is $116.11 and its 200-day moving average is $120.23.

Datadog (NASDAQ:DDOG) last released its quarterly earnings results on Thursday, August 8th. The company reported $0.43 earnings per share 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 analysts’ expectations of $624.92 million. Datadog had a return on equity of 9.01% and a net margin of 6.81%. The business’s revenue was up 26.7% on a year-over-year basis. During the same period last year, the firm posted $0.36 EPS. On average, sell-side analysts predict that Datadog, Inc. will post 0.41 EPS for the current year.

About Datadog

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.