World Asset Management Inc bought a new position in shares of Datadog (NASDAQ:DDOG) in the 2nd quarter, HoldingsChannel reports. The fund bought 2,746 shares of the company’s stock, valued at approximately $239,000.
A number of other hedge funds also recently made changes to their positions in the business. 1832 Asset Management L.P. purchased a new position in Datadog during the first quarter worth about $62,963,000. Brown Capital Management LLC purchased a new position in Datadog during the first quarter worth about $47,562,000. Oregon Public Employees Retirement Fund boosted its stake in Datadog by 275.0% during the first quarter. Oregon Public Employees Retirement Fund now owns 978,411 shares of the company’s stock worth $35,203,000 after buying an additional 717,514 shares during the period. Bessemer Group Inc. boosted its stake in Datadog by 633.9% during the first quarter. Bessemer Group Inc. now owns 975,823 shares of the company’s stock worth $35,110,000 after buying an additional 842,859 shares during the period. Finally, New York State Common Retirement Fund boosted its stake in Datadog by 388.9% during the first quarter. New York State Common Retirement Fund now owns 975,758 shares of the company’s stock worth $35,108,000 after buying an additional 776,192 shares during the period. 29.62% of the stock is owned by institutional investors.
In other news, insider Amit Agarwal sold 3,509 shares of the business’s stock in a transaction that occurred on Tuesday, July 21st. The shares were sold at an average price of $91.32, for a total transaction of $320,441.88. Following the completion of the sale, the insider now owns 137,771 shares in the company, valued at approximately $12,581,247.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Julie Richardson sold 2,823 shares of the business’s stock in a transaction that occurred on Monday, July 13th. The stock was sold at an average price of $91.31, for a total transaction of $257,768.13. Following the sale, the director now owns 5,424 shares of the company’s stock, valued at approximately $495,265.44. The disclosure for this sale can be found here. Insiders have sold a total of 3,420,018 shares of company stock valued at $258,232,306 in the last 90 days. Insiders own 26.06% of the company’s stock.
Several research analysts have recently commented on the stock. Royal Bank of Canada raised their price objective on shares of Datadog from $43.00 to $50.00 and gave the company a “sector perform” rating in a research note on Monday, May 11th. Rosenblatt Securities reissued a “buy” rating and issued a $75.00 price objective on shares of Datadog in a research note on Tuesday. Stifel Nicolaus raised their price objective on shares of Datadog from $50.00 to $60.00 and gave the company a “buy” rating in a research note on Tuesday, May 12th. DA Davidson assumed coverage on shares of Datadog in a research note on Wednesday, April 15th. They issued a “neutral” rating and a $38.00 price objective for the company. Finally, Zacks Investment Research lowered shares of Datadog from a “buy” rating to a “hold” rating in a research note on Tuesday, July 14th. Nine analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $75.79.
Shares of NASDAQ:DDOG opened at $93.86 on Friday. The firm’s 50 day moving average price is $87.53 and its 200 day moving average price is $57.43. Datadog has a fifty-two week low of $27.55 and a fifty-two week high of $98.99. The company has a quick ratio of 4.43, a current ratio of 4.43 and a debt-to-equity ratio of 0.06.
Datadog (NASDAQ:DDOG) last issued its quarterly earnings data on Monday, May 11th. The company reported $0.06 earnings per share for the quarter, topping the consensus estimate of ($0.03) by $0.09. The company had revenue of $131.30 million for the quarter, compared to analysts’ expectations of $117.73 million. The business’s revenue was up 87.4% on a year-over-year basis. Analysts expect that Datadog will post -0.02 EPS for the current fiscal year.
Datadog, Inc provides monitoring and analytics platform for developers, information technology operations teams, and business users in the cloud in North America and internationally. Its SaaS platform integrates and automates infrastructure monitoring, application performance monitoring, and log management to provide real-time observability of customers technology stack.
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