Bank of Montreal Can Purchases 344,431 Shares of Datadog, Inc. (NASDAQ:DDOG)

Bank of Montreal Can lifted its holdings in shares of Datadog, Inc. (NASDAQ:DDOG - Free Report) by 129.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 610,977 shares of the company's stock after purchasing an additional 344,431 shares during the quarter. Bank of Montreal Can owned 0.18% of Datadog worth $79,384,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Hsbc Holdings PLC boosted its stake in Datadog by 47.8% in the fourth quarter. Hsbc Holdings PLC now owns 193,390 shares of the company's stock worth $23,505,000 after buying an additional 62,533 shares in the last quarter. Congress Asset Management Co. MA bought a new stake in Datadog in the first quarter valued at approximately $1,083,000. Vanguard Group Inc. lifted its position in Datadog by 0.6% in the first quarter. Vanguard Group Inc. now owns 27,431,107 shares of the company's stock valued at $3,390,485,000 after purchasing an additional 171,693 shares during the last quarter. Jones Financial Companies Lllp bought a new stake in Datadog in the fourth quarter valued at approximately $33,000. Finally, Los Angeles Capital Management LLC lifted its position in Datadog by 9.3% in the first quarter. Los Angeles Capital Management LLC now owns 264,821 shares of the company's stock valued at $32,732,000 after purchasing an additional 22,544 shares during the last quarter. Hedge funds and other institutional investors own 78.29% of the company's stock.

Wall Street Analyst Weigh In

DDOG has been the subject of several recent research reports. BMO Capital Markets lowered their price objective on Datadog from $140.00 to $132.00 and set an "outperform" rating for the company in a research report on Friday, August 9th. Loop Capital reiterated a "buy" rating and issued a $160.00 price objective on shares of Datadog in a research report on Friday, July 5th. BTIG Research upgraded Datadog from a "neutral" rating to a "buy" rating and set a $143.00 price objective for the company in a research report on Thursday, August 1st. UBS Group boosted their price objective on Datadog from $120.00 to $125.00 and gave the company a "neutral" rating in a research report on Friday, August 9th. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $150.00 price target on shares of Datadog in a research note on Monday, July 22nd. Four equities research analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Datadog presently has an average rating of "Moderate Buy" and an average price target of $139.88.

Insider Activity

In related news, CRO Sean Michael Walters sold 2,351 shares of Datadog stock in a transaction dated Thursday, June 27th. The stock was sold at an average price of $125.00, for a total value of $293,875.00. Following the completion of the sale, the executive now directly owns 197,421 shares in the company, valued at approximately $24,677,625. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, insider Madre Armelle De sold 1,749 shares of Datadog stock in a transaction dated Thursday, June 27th. The stock was sold at an average price of $125.00, for a total value of $218,625.00. Following the completion of the sale, the insider now directly owns 92,025 shares in the company, valued at approximately $11,503,125. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CRO Sean Michael Walters sold 2,351 shares of the business's stock in a transaction dated Thursday, June 27th. The shares were sold at an average price of $125.00, for a total value of $293,875.00. Following the sale, the executive now owns 197,421 shares of the company's stock, valued at $24,677,625. The disclosure for this sale can be found here. Insiders sold 554,196 shares of company stock worth $67,580,459 over the last three months. 11.78% of the stock is currently owned by corporate insiders.

Datadog Stock Down 1.1 %

Shares of NASDAQ:DDOG traded down $1.30 on Wednesday, hitting $116.01. 2,545,314 shares of the company traded hands, compared to its average volume of 3,869,751. Datadog, Inc. has a 52 week low of $77.81 and a 52 week high of $138.61. The stock has a 50 day simple moving average of $114.11 and a 200-day simple moving average of $119.49. The company has a market cap of $39.11 billion, a PE ratio of 362.34, a PEG ratio of 28.94 and a beta of 1.11.

Datadog (NASDAQ:DDOG - Get Free Report) last issued its quarterly earnings results on Thursday, August 8th. The company reported $0.43 earnings per share for the quarter, beating the consensus estimate of $0.37 by $0.06. Datadog had a return on equity of 9.01% and a net margin of 6.81%. The firm had revenue of $645.28 million during the quarter, compared to the consensus estimate of $624.92 million. During the same period last year, the company earned $0.36 earnings per share. The company's revenue was up 26.7% on a year-over-year basis. As a group, sell-side analysts anticipate that Datadog, Inc. will post 0.42 earnings per share for the current year.

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.