Quantinno Capital Management LP Increases Stock Holdings in Datadog, Inc. (NASDAQ:DDOG)

Quantinno Capital Management LP increased its stake in shares of Datadog, Inc. (NASDAQ:DDOG) by 11.7% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 25,069 shares of the company’s stock after acquiring an additional 2,634 shares during the period. Quantinno Capital Management LP’s holdings in Datadog were worth $3,582,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of DDOG. Proficio Capital Partners LLC acquired a new position in shares of Datadog during the fourth quarter worth $14,884,000. ARK Investment Management LLC increased its stake in Datadog by 62.7% during the 4th quarter. ARK Investment Management LLC now owns 127,290 shares of the company’s stock worth $18,188,000 after buying an additional 49,050 shares during the period. Y Intercept Hong Kong Ltd lifted its holdings in Datadog by 140.1% in the 4th quarter. Y Intercept Hong Kong Ltd now owns 53,116 shares of the company’s stock worth $7,590,000 after buying an additional 30,998 shares in the last quarter. Baillie Gifford & Co. boosted its position in Datadog by 15.8% in the 4th quarter. Baillie Gifford & Co. now owns 10,905,133 shares of the company’s stock valued at $1,558,234,000 after buying an additional 1,484,562 shares during the last quarter. Finally, Cullen Frost Bankers Inc. grew its stake in shares of Datadog by 3.5% during the fourth quarter. Cullen Frost Bankers Inc. now owns 72,489 shares of the company’s stock valued at $10,358,000 after acquiring an additional 2,451 shares in the last quarter. Hedge funds and other institutional investors own 78.29% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. Wells Fargo & Company cut their price target on Datadog from $140.00 to $115.00 and set an “equal weight” rating on the stock in a research note on Wednesday, May 7th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $134.00 target price on shares of Datadog in a research report on Wednesday, May 7th. Needham & Company LLC reduced their target price on Datadog from $160.00 to $130.00 and set a “buy” rating for the company in a research note on Wednesday, May 7th. Scotiabank set a $130.00 price target on shares of Datadog and gave the stock an “outperform” rating in a research note on Wednesday, May 7th. Finally, BTIG Research set a $136.00 price target on shares of Datadog and gave the company a “buy” rating in a report on Tuesday, May 6th. Seven investment analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $141.54.

Insider Buying and Selling

In related news, Director Amit Agarwal sold 25,000 shares of Datadog stock in a transaction dated Wednesday, May 14th. The shares were sold at an average price of $118.67, for a total transaction of $2,966,750.00. Following the sale, the director now directly owns 82,324 shares in the company, valued at $9,769,389.08. The trade was a 23.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Olivier Pomel sold 107,365 shares of the company’s stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $109.56, for a total transaction of $11,762,909.40. Following the completion of the sale, the chief executive officer now directly owns 435,793 shares of the company’s stock, valued at $47,745,481.08. The trade was a 19.77% decrease in their position. The disclosure for this sale can be found here. Insiders sold 584,867 shares of company stock valued at $60,517,652 in the last three months. 11.78% of the stock is currently owned by corporate insiders.

Datadog Stock Performance

Datadog stock opened at $117.67 on Monday. Datadog, Inc. has a one year low of $81.63 and a one year high of $170.08. The company has a 50-day simple moving average of $101.10 and a 200-day simple moving average of $125.50. The firm has a market capitalization of $40.64 billion, a P/E ratio of 230.73, a P/E/G ratio of 44.03 and a beta of 1.12.

Datadog (NASDAQ:DDOG) last posted its earnings results on Tuesday, May 6th. The company reported $0.46 EPS for the quarter, topping the consensus estimate of $0.42 by $0.04. The firm had revenue of $761.55 million during the quarter, compared to analysts’ expectations of $741.73 million. Datadog had a net margin of 6.85% and a return on equity of 8.28%. Datadog’s quarterly revenue was up 24.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.44 EPS. As a group, sell-side analysts forecast that Datadog, Inc. will post 0.34 earnings per share for the current 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.