WINTON GROUP Ltd Takes $1.20 Million Position in Datadog, Inc. (NASDAQ:DDOG)

WINTON GROUP Ltd bought a new stake in shares of Datadog, Inc. (NASDAQ:DDOG) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 9,237 shares of the company’s stock, valued at approximately $1,198,000.

Other hedge funds also recently made changes to their positions in the company. Hsbc Holdings PLC boosted its stake in Datadog by 47.8% in the fourth quarter. Hsbc Holdings PLC now owns 193,390 shares of the company’s stock valued at $23,505,000 after acquiring an additional 62,533 shares during the last quarter. Congress Asset Management Co. MA purchased a new position in Datadog in the first quarter valued at approximately $1,083,000. Vanguard Group Inc. grew its holdings in Datadog by 0.6% during the first quarter. Vanguard Group Inc. now owns 27,431,107 shares of the company’s stock valued at $3,390,485,000 after purchasing an additional 171,693 shares during the period. Jones Financial Companies Lllp purchased a new stake in Datadog in the fourth quarter worth $33,000. Finally, Los Angeles Capital Management LLC raised its stake in shares of Datadog by 9.3% in the first quarter. Los Angeles Capital Management LLC now owns 264,821 shares of the company’s stock valued at $32,732,000 after buying an additional 22,544 shares during the period. 78.29% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. Royal Bank of Canada restated an “outperform” rating and issued a $151.00 price objective on shares of Datadog in a research note on Friday, August 9th. Cantor Fitzgerald restated an “overweight” rating and set a $150.00 price target on shares of Datadog in a research note on Monday, July 22nd. Evercore ISI initiated coverage on shares of Datadog in a research note on Monday, July 15th. They issued an “outperform” rating and a $150.00 price objective for the company. Scotiabank dropped their target price on Datadog from $145.00 to $135.00 and set a “sector outperform” rating on the stock in a research report on Friday, August 9th. Finally, Loop Capital reiterated a “buy” rating and issued a $160.00 price target on shares of Datadog in a research report on Friday, July 5th. Four investment analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $139.88.

Insider Activity at Datadog

In other Datadog news, General Counsel Kerry Acocella sold 5,955 shares of Datadog stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $120.09, for a total value of $715,135.95. Following the transaction, the general counsel now directly owns 85,787 shares of the company’s stock, valued at approximately $10,302,160.83. The sale 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 stock in a transaction dated 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 completion of the sale, the chief executive officer now directly owns 324,539 shares in the company, valued at $42,517,854.39. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, General Counsel Kerry Acocella sold 5,955 shares of the business’s stock in a transaction dated Monday, June 24th. The shares were sold at an average price of $120.09, for a total value of $715,135.95. Following the transaction, the general counsel now owns 85,787 shares in the company, valued at approximately $10,302,160.83. The disclosure for this sale can be found here. Insiders sold 561,997 shares of company stock worth $68,517,631 in the last ninety days. 11.78% of the stock is owned by company insiders.

Datadog Stock Performance

DDOG stock opened at $109.26 on Monday. The company has a market capitalization of $36.55 billion, a PE ratio of 341.44, a price-to-earnings-growth ratio of 27.84 and a beta of 1.11. Datadog, Inc. has a one year low of $77.81 and a one year high of $138.61. The company’s 50 day moving average price is $116.11 and its two-hundred day moving average price is $120.08.

Datadog (NASDAQ:DDOG) last posted its quarterly earnings results on Thursday, August 8th. The company reported $0.43 earnings per share for the quarter, topping the consensus estimate of $0.37 by $0.06. Datadog had a net margin of 6.81% and a return on equity of 9.01%. The business had revenue of $645.28 million during the quarter, compared to the consensus estimate of $624.92 million. During the same period in the previous year, the firm posted $0.36 earnings per share. The firm’s revenue for the quarter was up 26.7% on a year-over-year basis. On average, research 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.