Envestnet Asset Management Inc. Increases Stake in Datadog, Inc. (NASDAQ:DDOG)

Envestnet Asset Management Inc. increased its position in shares of Datadog, Inc. (NASDAQ:DDOGGet Rating) by 384.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 107,400 shares of the company’s stock after buying an additional 85,253 shares during the period. Envestnet Asset Management Inc.’s holdings in Datadog were worth $16,268,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Arizona State Retirement System increased its stake in shares of Datadog by 14.2% during the first quarter. Arizona State Retirement System now owns 59,988 shares of the company’s stock valued at $9,086,000 after buying an additional 7,460 shares during the period. Leo Brokerage LLC purchased a new position in Datadog in the first quarter valued at about $304,000. State of New Jersey Common Pension Fund D grew its stake in Datadog by 14.1% in the first quarter. State of New Jersey Common Pension Fund D now owns 129,605 shares of the company’s stock valued at $19,631,000 after purchasing an additional 15,981 shares during the last quarter. CENTRAL TRUST Co grew its stake in Datadog by 46.0% in the first quarter. CENTRAL TRUST Co now owns 2,636 shares of the company’s stock valued at $399,000 after purchasing an additional 830 shares during the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. grew its stake in Datadog by 1,029.8% in the first quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,062 shares of the company’s stock valued at $161,000 after purchasing an additional 968 shares during the last quarter. Hedge funds and other institutional investors own 65.17% of the company’s stock.

Datadog Trading Down 1.7 %

Shares of NASDAQ:DDOG opened at $110.49 on Friday. Datadog, Inc. has a 12-month low of $81.12 and a 12-month high of $199.68. The company has a market capitalization of $34.81 billion, a PE ratio of -11,049,000.00 and a beta of 1.15. The business has a 50 day moving average of $98.51 and a two-hundred day moving average of $121.80. The company has a current ratio of 3.33, a quick ratio of 3.33 and a debt-to-equity ratio of 0.66.

Datadog (NASDAQ:DDOGGet Rating) last announced its quarterly earnings results on Thursday, August 4th. The company reported $0.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.14 by $0.10. Datadog had a return on equity of 1.53% and a net margin of 0.17%. The company had revenue of $406.14 million during the quarter, compared to the consensus estimate of $381.28 million. During the same period in the previous year, the company posted ($0.02) earnings per share. Datadog’s revenue for the quarter was up 73.9% on a year-over-year basis. As a group, analysts forecast that Datadog, Inc. will post -0.14 EPS for the current year.

Insider Activity

In other news, COO Adam Blitzer sold 25,416 shares of the business’s stock in a transaction that occurred on Thursday, June 2nd. The stock was sold at an average price of $102.22, for a total value of $2,598,023.52. Following the completion of the sale, the chief operating officer now directly owns 216,510 shares in the company, valued at $22,131,652.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, General Counsel Kerry Acocella sold 1,950 shares of the business’s stock in a transaction that occurred on Monday, August 1st. The stock was sold at an average price of $100.00, for a total value of $195,000.00. Following the completion of the sale, the general counsel now directly owns 49,007 shares in the company, valued at $4,900,700. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Adam Blitzer sold 25,416 shares of the business’s stock in a transaction that occurred on Thursday, June 2nd. The stock was sold at an average price of $102.22, for a total value of $2,598,023.52. Following the sale, the chief operating officer now owns 216,510 shares of the company’s stock, valued at $22,131,652.20. The disclosure for this sale can be found here. Insiders sold 120,207 shares of company stock worth $12,158,942 over the last three months. 15.80% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

DDOG has been the topic of several analyst reports. Sanford C. Bernstein initiated coverage on Datadog in a research note on Tuesday, July 19th. They issued an “outperform” rating and a $172.00 target price on the stock. Mizuho cut their target price on Datadog from $175.00 to $150.00 and set a “buy” rating on the stock in a research note on Tuesday, July 19th. Canaccord Genuity Group initiated coverage on Datadog in a research note on Thursday, July 7th. They issued a “hold” rating and a $120.00 target price on the stock. Rosenblatt Securities cut their target price on Datadog from $180.00 to $146.00 and set a “buy” rating on the stock in a research note on Friday, July 29th. Finally, Canaccord Genuity Group initiated coverage on Datadog in a research note on Thursday, July 7th. They set a “hold” rating and a $120.00 price target on the stock. Six analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $168.05.

Datadog Profile

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Datadog, Inc provides monitoring and analytics platform for developers, information technology operations teams, and business users in the cloud in North America and internationally. The company's SaaS platform integrates and automates infrastructure monitoring, application performance monitoring, log management, and security monitoring to provide real-time observability of its customers technology stack.

See Also

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Institutional Ownership by Quarter for Datadog (NASDAQ:DDOG)

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