Federated Hermes Inc. Has $68.03 Million Stock Holdings in Datadog, Inc. (NASDAQ:DDOG)

Federated Hermes Inc. raised its position in Datadog, Inc. (NASDAQ:DDOG) by 6.7% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 524,585 shares of the company’s stock after buying an additional 32,851 shares during the quarter. Federated Hermes Inc. owned 0.16% of Datadog worth $68,033,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Riverview Trust Co acquired a new stake in shares of Datadog during the 1st quarter worth $26,000. SouthState Corp acquired a new stake in shares of Datadog during the 2nd quarter worth $26,000. Raleigh Capital Management Inc. acquired a new stake in shares of Datadog during the 4th quarter worth $29,000. Jones Financial Companies Lllp acquired a new stake in shares of Datadog during the 4th quarter worth $33,000. Finally, Quest Partners LLC acquired a new stake in shares of Datadog during the 4th quarter worth $36,000. 78.29% of the stock is owned by institutional investors and hedge funds.

Datadog Price Performance

NASDAQ DDOG opened at $109.26 on Friday. The business has a 50 day simple moving average of $116.11 and a 200 day simple moving average of $120.23. Datadog, Inc. has a one year low of $77.81 and a one year high of $138.61. The stock has a market capitalization of $36.55 billion, a P/E ratio of 341.44, a P/E/G ratio of 27.84 and a beta of 1.11.

Datadog (NASDAQ:DDOG) last released its earnings results on Thursday, August 8th. The company reported $0.43 EPS for the quarter, topping 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 business had revenue of $645.28 million during the quarter, compared to analysts’ expectations of $624.92 million. During the same quarter last year, the firm posted $0.36 earnings per share. The firm’s revenue was up 26.7% on a year-over-year basis. Equities analysts expect that Datadog, Inc. will post 0.41 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Matthew Jacobson sold 9,256 shares of the firm’s stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $108.05, for a total transaction of $1,000,110.80. Following the completion of the sale, the director now owns 48,411 shares of the company’s stock, valued at $5,230,808.55. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Datadog news, CEO Olivier Pomel sold 85,637 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $104.21, for a total value of $8,924,231.77. Following the completion of the sale, the chief executive officer now owns 405,314 shares of the company’s stock, valued at $42,237,771.94. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Matthew Jacobson sold 9,256 shares of the firm’s stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $108.05, for a total value of $1,000,110.80. Following the completion of the sale, the director now directly owns 48,411 shares of the company’s stock, valued at approximately $5,230,808.55. The disclosure for this sale can be found here. Insiders sold 561,997 shares of company stock valued at $68,517,631 over the last 90 days. Company insiders own 11.78% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on DDOG shares. UBS Group increased their target price on Datadog from $120.00 to $125.00 and gave the stock a “neutral” rating in a report on Friday, August 9th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $151.00 price objective on shares of Datadog in a research note on Friday, August 9th. Scotiabank reduced their price objective on Datadog from $145.00 to $135.00 and set a “sector outperform” rating on the stock in a research note on Friday, August 9th. Loop Capital reaffirmed a “buy” rating and issued a $160.00 price objective on shares of Datadog in a research note on Friday, July 5th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $150.00 price objective on shares of Datadog in a research note on Monday, July 22nd. Four research analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $139.88.

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.