Federated Hermes Inc. Increases Holdings in Datadog, Inc. (NASDAQ:DDOG)

Federated Hermes Inc. grew its stake in shares of Datadog, Inc. (NASDAQ:DDOG) by 30.0% during the fourth quarter, HoldingsChannel reports. The firm owned 404,105 shares of the company’s stock after buying an additional 93,171 shares during the period. Federated Hermes Inc.’s holdings in Datadog were worth $49,050,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the stock. Anchor Investment Management LLC acquired a new stake in Datadog in the fourth quarter valued at approximately $25,000. BluePath Capital Management LLC purchased a new position in shares of Datadog in the third quarter valued at $31,000. Private Trust Co. NA grew its holdings in Datadog by 743.3% during 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 in the last quarter. AM Squared Ltd purchased a new stake in Datadog during the 3rd quarter worth $36,000. Finally, KB Financial Partners LLC acquired a new position in Datadog in the 1st quarter worth $37,000. Hedge funds and other institutional investors own 78.29% of the company’s stock.

Insider Activity at Datadog

In other news, President Amit Agarwal sold 33,311 shares of the business’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $128.58, for a total value of $4,283,128.38. Following the sale, the president now owns 294,012 shares of the company’s stock, valued at approximately $37,804,062.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Datadog news, CFO David M. Obstler sold 15,000 shares of Datadog stock in a transaction that occurred on Thursday, April 11th. The shares were sold at an average price of $130.28, for a total value of $1,954,200.00. Following the transaction, the chief financial officer now owns 275,191 shares in the company, valued at $35,851,883.48. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, President Amit Agarwal sold 33,311 shares of the stock in a transaction on Monday, March 4th. The shares were sold at an average price of $128.58, for a total value of $4,283,128.38. Following the completion of the transaction, the president now owns 294,012 shares of the company’s stock, valued at approximately $37,804,062.96. The disclosure for this sale can be found here. Insiders have sold 745,984 shares of company stock worth $95,917,681 over the last quarter. 14.97% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several analysts have recently weighed in on DDOG shares. Barclays raised their target price on Datadog from $138.00 to $152.00 and gave the company an “overweight” rating in a research note on Wednesday, February 14th. Robert W. Baird raised their price objective on Datadog from $120.00 to $130.00 and gave the company a “neutral” rating in a research note on Wednesday, February 14th. Wolfe Research upped their target price on Datadog from $140.00 to $150.00 and gave the company an “outperform” rating in a research report on Wednesday, February 14th. Mizuho increased their target price on Datadog from $108.00 to $130.00 and gave the company a “neutral” rating in a research note on Wednesday, February 14th. Finally, Canaccord Genuity Group restated a “buy” rating and issued a $150.00 price target on shares of Datadog in a research note on Friday, February 23rd. Six research analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $130.52.

Datadog Stock Down 3.9 %

Shares of Datadog stock opened at $120.09 on Friday. The company has a debt-to-equity ratio of 0.37, a current ratio of 3.17 and a quick ratio of 3.17. Datadog, Inc. has a 1-year low of $62.60 and a 1-year high of $138.61. The business’s fifty day moving average price is $125.89 and its two-hundred day moving average price is $115.75. The company has a market capitalization of $39.85 billion, a P/E ratio of 1,000.75 and a beta of 1.15.

Datadog (NASDAQ:DDOG) last issued its quarterly earnings data on Tuesday, February 13th. The company reported $0.44 earnings per share for the quarter, beating analysts’ consensus estimates of $0.43 by $0.01. The business had revenue of $589.65 million for the quarter, compared to analysts’ expectations of $568.73 million. Datadog had a net margin of 2.28% and a return on equity of 3.79%. The company’s revenue was up 25.6% on a year-over-year basis. During the same period in the previous year, the business earned ($0.08) earnings per share. As a group, research analysts forecast that Datadog, Inc. will post -0.14 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.