EDBI Pte Ltd Has $2.47 Million Stock Holdings in Datadog, Inc. (NASDAQ:DDOG)

EDBI Pte Ltd raised its stake in shares of Datadog, Inc. (NASDAQ:DDOG) by 22.1% in the 2nd quarter, Holdings Channel reports. The firm owned 19,078 shares of the company’s stock after purchasing an additional 3,454 shares during the quarter. Datadog accounts for 2.8% of EDBI Pte Ltd’s investment portfolio, making the stock its 8th largest holding. EDBI Pte Ltd’s holdings in Datadog were worth $2,474,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of DDOG. International Assets Investment Management LLC bought a new position in shares of Datadog in the 4th quarter worth about $1,915,000. Benjamin F. Edwards & Company Inc. raised its position in shares of Datadog by 17.9% in the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 639 shares of the company’s stock worth $78,000 after acquiring an additional 97 shares in the last quarter. Principal Securities Inc. bought a new position in shares of Datadog in the 4th quarter worth about $326,000. QRG Capital Management Inc. raised its position in shares of Datadog by 68.4% in the 4th quarter. QRG Capital Management Inc. now owns 7,665 shares of the company’s stock worth $930,000 after acquiring an additional 3,113 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its position in shares of Datadog by 12.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 254,076 shares of the company’s stock worth $30,842,000 after acquiring an additional 28,394 shares in the last quarter. 78.29% of the stock is owned by institutional investors.

Insider Buying and Selling at Datadog

In other Datadog news, CRO Sean Michael Walters sold 3,134 shares of the company’s stock in a transaction dated Tuesday, June 11th. The shares were sold at an average price of $113.58, for a total transaction of $355,959.72. Following the completion of the sale, the executive now directly owns 199,772 shares in the company, valued at $22,690,103.76. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other news, CRO Sean Michael Walters sold 3,134 shares of the company’s stock in a transaction dated Tuesday, June 11th. The shares were sold at an average price of $113.58, for a total transaction of $355,959.72. Following the completion of the transaction, the executive now directly owns 199,772 shares of the company’s stock, valued at $22,690,103.76. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Matthew Jacobson sold 18,415 shares of the company’s stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $119.52, for a total transaction of $2,200,960.80. Following the transaction, the director now directly owns 44,387 shares of the company’s stock, valued at $5,305,134.24. The disclosure for this sale can be found here. Insiders sold a total of 574,290 shares of company stock worth $70,074,441 over the last three months. Company insiders own 11.78% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on DDOG. BTIG Research upgraded Datadog from a “neutral” rating to a “buy” rating and set a $143.00 target price for the company in a research note on Thursday, August 1st. Monness Crespi & Hardt upgraded Datadog from a “sell” rating to a “neutral” rating in a research note on Wednesday, August 7th. BMO Capital Markets reduced their target price on Datadog from $140.00 to $132.00 and set an “outperform” rating for the company in a research note on Friday, August 9th. Evercore ISI began coverage on Datadog in a research note on Monday, July 15th. They issued an “outperform” rating and a $150.00 target price for the company. Finally, UBS Group raised their target price on Datadog from $120.00 to $125.00 and gave the company a “neutral” rating in a research note on Friday, August 9th. Four investment 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 stock presently has an average rating of “Moderate Buy” and a consensus target price of $139.88.

Datadog Stock Performance

Shares of NASDAQ:DDOG opened at $108.01 on Monday. The firm has a fifty day moving average of $118.42 and a 200 day moving average of $120.84. Datadog, Inc. has a 52-week low of $77.81 and a 52-week high of $138.61. The firm has a market capitalization of $36.42 billion, a PE ratio of 335.00, a price-to-earnings-growth ratio of 27.25 and a beta of 1.11.

Datadog (NASDAQ:DDOG) last posted its quarterly earnings results on Thursday, August 8th. The company reported $0.43 earnings per share (EPS) for the quarter, beating 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 analyst estimates of $624.92 million. During the same period in the prior year, the business posted $0.36 earnings per share. The company’s revenue was up 26.7% on a year-over-year basis. On average, sell-side analysts forecast that Datadog, Inc. will post 0.41 EPS for the current fiscal year.

Datadog 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.