Harvest Fund Management Co. Ltd Grows Stake in Datadog, Inc. (NASDAQ:DDOG)

Harvest Fund Management Co. Ltd increased its holdings in shares of Datadog, Inc. (NASDAQ:DDOG) by 27.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,008 shares of the company’s stock after purchasing an additional 655 shares during the quarter. Harvest Fund Management Co. Ltd’s holdings in Datadog were worth $364,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in DDOG. Anchor Investment Management LLC purchased a new stake in shares of Datadog during the fourth quarter worth about $25,000. BluePath Capital Management LLC purchased a new stake in shares of Datadog during the third quarter worth about $31,000. Private Trust Co. NA grew its position in shares of Datadog by 743.3% during the fourth quarter. Private Trust Co. NA now owns 253 shares of the company’s stock worth $31,000 after purchasing an additional 223 shares in the last quarter. AM Squared Ltd bought a new position in Datadog during the third quarter valued at approximately $36,000. Finally, GAMMA Investing LLC bought a new position in Datadog during the fourth quarter valued at approximately $45,000. Hedge funds and other institutional investors own 78.29% of the company’s stock.

Datadog Trading Up 0.5 %

DDOG traded up $0.63 during trading on Wednesday, hitting $127.07. 3,252,384 shares of the stock were exchanged, compared to its average volume of 4,047,140. The firm has a 50 day simple moving average of $125.53 and a 200 day simple moving average of $116.60. The firm has a market cap of $42.17 billion, a price-to-earnings ratio of 1,053.67 and a beta of 1.15. Datadog, Inc. has a 1 year low of $62.60 and a 1 year high of $138.61. The company has a debt-to-equity ratio of 0.37, a quick ratio of 3.17 and a current ratio of 3.17.

Datadog (NASDAQ:DDOG) last announced its quarterly earnings results on Tuesday, February 13th. The company reported $0.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.43 by $0.01. Datadog had a return on equity of 3.79% and a net margin of 2.28%. The business had revenue of $589.65 million for the quarter, compared to the consensus estimate of $568.73 million. During the same period last year, the business posted ($0.08) EPS. The business’s revenue was up 25.6% compared to the same quarter last year. As a group, equities analysts expect that Datadog, Inc. will post -0.14 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Mizuho increased their price target on Datadog from $108.00 to $130.00 and gave the company a “neutral” rating in a research note on Wednesday, February 14th. Canaccord Genuity Group reissued a “buy” rating and set a $150.00 price target on shares of Datadog in a research note on Friday, February 23rd. Cantor Fitzgerald reissued an “overweight” rating and set a $150.00 price target on shares of Datadog in a research note on Wednesday, April 17th. Barclays raised their price objective on Datadog from $138.00 to $152.00 and gave the company an “overweight” rating in a research note on Wednesday, February 14th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and issued a $152.00 price objective on shares of Datadog in a research note on Monday. Five equities research analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $131.70.

Insider Activity

In other news, CEO Olivier Pomel sold 133,315 shares of Datadog stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $129.82, for a total value of $17,306,953.30. Following the transaction, the chief executive officer now directly owns 299,075 shares in the company, valued at approximately $38,825,916.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO Olivier Pomel sold 133,315 shares of the firm’s stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $129.82, for a total value of $17,306,953.30. Following the completion of the sale, the chief executive officer now owns 299,075 shares of the company’s stock, valued at approximately $38,825,916.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CRO Sean Michael Walters sold 20,692 shares of the firm’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 $2,660,577.36. Following the completion of the sale, the executive now directly owns 182,593 shares of the company’s stock, valued at approximately $23,477,807.94. The disclosure for this sale can be found here. In the last three months, insiders have sold 735,984 shares of company stock worth $94,617,681. 14.97% of the stock is currently owned by company insiders.

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.