Stanley Laman Group Ltd. Acquires Shares of 61,207 Datadog, Inc. (NASDAQ:DDOG)

Stanley Laman Group Ltd. bought a new position in shares of Datadog, Inc. (NASDAQ:DDOG) in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 61,207 shares of the company’s stock, valued at approximately $6,072,000. Datadog makes up about 0.9% of Stanley Laman Group Ltd.’s holdings, making the stock its 18th biggest position.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Brighton Jones LLC acquired a new stake in Datadog in the 4th quarter worth about $209,000. Apollon Wealth Management LLC bought a new position in shares of Datadog during the fourth quarter worth approximately $765,000. Gladstone Institutional Advisory LLC acquired a new stake in shares of Datadog in the fourth quarter valued at approximately $853,000. Van ECK Associates Corp acquired a new stake in shares of Datadog in the fourth quarter valued at approximately $182,000. Finally, Asset Management One Co. Ltd. boosted its stake in shares of Datadog by 4.1% in the fourth quarter. Asset Management One Co. Ltd. now owns 103,290 shares of the company’s stock valued at $15,079,000 after buying an additional 4,096 shares during the period. Institutional investors and hedge funds own 78.29% of the company’s stock.

Insider Buying and Selling

In related news, CEO Olivier Pomel sold 107,365 shares of the business’s stock in a transaction on Monday, June 9th. The shares were sold at an average price of $121.71, for a total transaction of $13,067,394.15. Following the transaction, the chief executive officer now owns 548,715 shares in the company, valued at $66,784,102.65. The trade was a 16.36% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Alexis Le-Quoc sold 127,105 shares of Datadog stock in a transaction on Wednesday, May 7th. The shares were sold at an average price of $105.83, for a total transaction of $13,451,522.15. Following the completion of the sale, the chief technology officer now directly owns 466,535 shares of the company’s stock, valued at approximately $49,373,399.05. This trade represents a 21.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 700,582 shares of company stock valued at $77,926,597 over the last 90 days. Company insiders own 8.70% of the company’s stock.

Datadog Trading Up 3.4%

Shares of DDOG opened at $122.68 on Friday. The stock’s 50-day moving average price is $107.34 and its two-hundred day moving average price is $123.79. Datadog, Inc. has a 12 month low of $81.63 and a 12 month high of $170.08. The company has a market capitalization of $42.37 billion, a PE ratio of 240.55, a PEG ratio of 44.03 and a beta of 1.01.

Datadog (NASDAQ:DDOG) last posted its quarterly earnings data on Tuesday, May 6th. The company reported $0.46 EPS for the quarter, topping analysts’ consensus estimates of $0.42 by $0.04. The company had revenue of $761.55 million for the quarter, compared to analyst estimates of $741.73 million. Datadog had a return on equity of 8.28% and a net margin of 6.85%. The firm’s quarterly revenue was up 24.6% on a year-over-year basis. During the same period in the previous year, the firm earned $0.44 earnings per share. Equities research analysts predict that Datadog, Inc. will post 0.34 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

DDOG has been the topic of a number of recent research reports. Wedbush restated an “outperform” rating and set a $140.00 price objective on shares of Datadog in a research note on Wednesday. Canaccord Genuity Group decreased their price target on Datadog from $150.00 to $145.00 and set a “buy” rating on the stock in a research report on Wednesday, May 7th. Wolfe Research raised shares of Datadog from a “peer perform” rating to an “outperform” rating and set a $150.00 price objective for the company in a research report on Thursday. Morgan Stanley reduced their price objective on shares of Datadog from $143.00 to $115.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 16th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $134.00 target price on shares of Datadog in a report on Wednesday, May 7th. Six research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company. According to MarketBeat.com, Datadog presently has an average rating of “Moderate Buy” and an average target price of $142.25.

Datadog Company 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.