Datadog, Inc. (NASDAQ:DDOG) Shares Acquired by Hillsdale Investment Management Inc.

Hillsdale Investment Management Inc. raised its holdings in shares of Datadog, Inc. (NASDAQ:DDOG) by 2,205.1% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 4,495 shares of the company’s stock after acquiring an additional 4,300 shares during the quarter. Hillsdale Investment Management Inc.’s holdings in Datadog were worth $556,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Riverview Trust Co purchased a new stake in shares of Datadog in the 1st quarter valued at about $26,000. Raleigh Capital Management Inc. purchased a new stake in shares of Datadog in the 4th quarter valued at about $29,000. Private Trust Co. NA lifted its holdings in shares of Datadog by 743.3% in the 4th quarter. Private Trust Co. NA now owns 253 shares of the company’s stock valued at $31,000 after purchasing an additional 223 shares during the last quarter. Jones Financial Companies Lllp purchased a new stake in shares of Datadog in the 4th quarter valued at about $33,000. Finally, Quest Partners LLC purchased a new stake in shares of Datadog in the 4th quarter valued at about $36,000. 78.29% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on DDOG. BMO Capital Markets reduced their target price on Datadog from $155.00 to $140.00 and set an “outperform” rating for the company in a report on Wednesday, May 8th. Monness Crespi & Hardt reissued a “sell” rating and issued a $98.00 target price (down from $290.00) on shares of Datadog in a report on Friday, June 14th. Mizuho raised Datadog from a “neutral” rating to an “outperform” rating and upped their price objective for the company from $135.00 to $155.00 in a research note on Tuesday, July 16th. Needham & Company LLC reaffirmed a “buy” rating and set a $165.00 price objective on shares of Datadog in a research note on Thursday, June 27th. Finally, Evercore ISI started coverage on Datadog in a research note on Monday, July 15th. They set an “outperform” rating and a $150.00 price objective for the company. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-eight have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Datadog currently has an average rating of “Moderate Buy” and a consensus price target of $138.21.

Insider Buying and Selling

In other Datadog news, CEO Olivier Pomel sold 85,637 shares of the business’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $125.41, for a total transaction of $10,739,736.17. Following the sale, the chief executive officer now directly owns 337,247 shares of the company’s stock, valued at approximately $42,294,146.27. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, CEO Olivier Pomel sold 85,637 shares of the stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $125.41, for a total value of $10,739,736.17. Following the completion of the sale, the chief executive officer now directly owns 337,247 shares of the company’s stock, valued at $42,294,146.27. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Madre Armelle De sold 1,749 shares of the firm’s stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $109.44, for a total transaction of $191,410.56. Following the sale, the insider now owns 93,774 shares of the company’s stock, valued at $10,262,626.56. The disclosure for this sale can be found here. Insiders have sold a total of 857,606 shares of company stock valued at $103,799,779 over the last quarter. Corporate insiders own 11.78% of the company’s stock.

Datadog Stock Performance

NASDAQ DDOG traded up $3.29 during trading hours on Tuesday, reaching $124.51. The company’s stock had a trading volume of 1,159,320 shares, compared to its average volume of 4,051,740. The company has a current ratio of 3.43, a quick ratio of 3.43 and a debt-to-equity ratio of 0.34. The business has a 50-day simple moving average of $121.17 and a 200 day simple moving average of $123.98. Datadog, Inc. has a 52 week low of $77.81 and a 52 week high of $138.61. The stock has a market cap of $41.65 billion, a PE ratio of 378.81, a PEG ratio of 39.19 and a beta of 1.11.

Datadog (NASDAQ:DDOG) last released its quarterly earnings results on Tuesday, May 7th. The company reported $0.16 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.20. Datadog had a return on equity of 7.48% and a net margin of 5.11%. The company had revenue of $611.25 million for the quarter, compared to analysts’ expectations of $589.97 million. Equities research analysts predict that Datadog, Inc. will post 0.32 earnings per share for the current fiscal 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.