Handelsbanken Fonder AB Increases Stake in Datadog, Inc. (NASDAQ:DDOG)

Handelsbanken Fonder AB lifted its stake in Datadog, Inc. (NASDAQ:DDOG) by 2.1% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 83,151 shares of the company’s stock after purchasing an additional 1,725 shares during the quarter. Handelsbanken Fonder AB’s holdings in Datadog were worth $8,249,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of DDOG. SG Americas Securities LLC increased its holdings in Datadog by 3,533.4% in the 1st quarter. SG Americas Securities LLC now owns 667,537 shares of the company’s stock worth $66,226,000 after buying an additional 649,165 shares during the period. Parsons Capital Management Inc. RI increased its holdings in Datadog by 4.3% in the 1st quarter. Parsons Capital Management Inc. RI now owns 5,155 shares of the company’s stock worth $511,000 after buying an additional 212 shares during the period. Simplicity Wealth LLC acquired a new position in Datadog in the 1st quarter worth approximately $1,213,000. Yousif Capital Management LLC increased its holdings in Datadog by 3.3% in the 1st quarter. Yousif Capital Management LLC now owns 3,891 shares of the company’s stock worth $386,000 after buying an additional 123 shares during the period. Finally, Farther Finance Advisors LLC increased its holdings in Datadog by 10.7% in the 1st quarter. Farther Finance Advisors LLC now owns 2,052 shares of the company’s stock worth $207,000 after buying an additional 199 shares during the period. 78.29% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

DDOG has been the topic of several research reports. Truist Financial cut their price target on shares of Datadog from $140.00 to $120.00 and set a “hold” rating on the stock in a report on Monday, March 31st. Wells Fargo & Company cut their price target on shares of Datadog from $140.00 to $115.00 and set an “equal weight” rating on the stock in a report on Wednesday, May 7th. Citigroup dropped their price objective on shares of Datadog from $170.00 to $165.00 and set a “buy” rating on the stock in a research note on Friday, February 14th. Jefferies Financial Group reaffirmed a “buy” rating on shares of Datadog in a research note on Tuesday, May 6th. Finally, Stifel Nicolaus set a $120.00 price objective on shares of Datadog in a research note on Tuesday, May 6th. Six equities research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company’s stock. According to data from MarketBeat.com, Datadog currently has an average rating of “Moderate Buy” and a consensus target price of $142.25.

Insiders Place Their Bets

In other news, CEO Olivier Pomel sold 107,365 shares of Datadog stock in a transaction on Monday, April 7th. The stock was sold at an average price of $87.33, for a total transaction of $9,376,185.45. Following the transaction, the chief executive officer now owns 563,598 shares in the company, valued at $49,219,013.34. The trade was a 16.00% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CTO Alexis Le-Quoc sold 127,105 shares of Datadog stock in a transaction on Wednesday, May 7th. The stock was sold at an average price of $105.83, for a total value of $13,451,522.15. Following the transaction, the chief technology officer now owns 466,535 shares in the company, valued at approximately $49,373,399.05. This represents a 21.41% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 700,582 shares of company stock valued at $77,926,597 in the last 90 days. 8.70% of the stock is owned by insiders.

Datadog Stock Up 3.4%

Shares of DDOG opened at $122.68 on Friday. Datadog, Inc. has a 52-week low of $81.63 and a 52-week high of $170.08. The firm’s fifty day moving average is $107.34 and its two-hundred day moving average is $123.79. The stock has a market cap of $42.37 billion, a PE ratio of 240.55, a price-to-earnings-growth ratio of 44.03 and a beta of 1.01.

Datadog (NASDAQ:DDOG) last announced its earnings results on Tuesday, May 6th. The company reported $0.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.42 by $0.04. Datadog had a net margin of 6.85% and a return on equity of 8.28%. The company had revenue of $761.55 million for the quarter, compared to analysts’ expectations of $741.73 million. During the same quarter in the previous year, the company posted $0.44 EPS. The firm’s quarterly revenue was up 24.6% on a year-over-year basis. As a group, research analysts anticipate that Datadog, Inc. will post 0.34 earnings per share for the current year.

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.