Federated Hermes Inc. Lowers Stock Position in Datadog, Inc. $DDOG

Federated Hermes Inc. reduced its position in shares of Datadog, Inc. (NASDAQ:DDOG) by 55.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 462,771 shares of the company’s stock after selling 580,854 shares during the period. Federated Hermes Inc.’s holdings in Datadog were worth $62,164,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Brighton Jones LLC bought a new position in shares of Datadog during the 4th quarter worth approximately $209,000. Bison Wealth LLC bought a new position in shares of Datadog in the fourth quarter valued at approximately $228,000. PNC Financial Services Group Inc. increased its position in shares of Datadog by 1.8% during the first quarter. PNC Financial Services Group Inc. now owns 18,514 shares of the company’s stock valued at $1,837,000 after acquiring an additional 322 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Datadog by 9.9% during the first quarter. Charles Schwab Investment Management Inc. now owns 1,378,855 shares of the company’s stock worth $136,796,000 after acquiring an additional 124,317 shares during the period. Finally, Chicago Partners Investment Group LLC bought a new stake in Datadog during the first quarter worth $207,000. 78.29% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. KeyCorp upgraded Datadog from a “sector weight” rating to an “overweight” rating and set a $230.00 price objective for the company in a research note on Friday, November 7th. Cantor Fitzgerald boosted their price target on shares of Datadog from $179.00 to $220.00 and gave the stock an “overweight” rating in a report on Friday, November 7th. BMO Capital Markets raised their price objective on shares of Datadog from $154.00 to $215.00 and gave the stock an “outperform” rating in a report on Friday, November 7th. Mizuho set a $215.00 price objective on shares of Datadog in a research report on Friday, November 7th. Finally, DA Davidson boosted their target price on shares of Datadog from $180.00 to $225.00 and gave the company a “buy” rating in a research note on Friday, November 7th. Thirty-one equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $207.38.

Datadog Price Performance

NASDAQ DDOG opened at $151.41 on Monday. The company has a quick ratio of 3.66, a current ratio of 3.66 and a debt-to-equity ratio of 0.29. The company has a market cap of $53.09 billion, a PE ratio of 488.42, a price-to-earnings-growth ratio of 33.07 and a beta of 1.23. Datadog, Inc. has a 52 week low of $81.63 and a 52 week high of $201.69. The firm’s 50-day simple moving average is $162.75 and its two-hundred day simple moving average is $143.61.

Datadog (NASDAQ:DDOG) last posted its earnings results on Thursday, November 6th. The company reported $0.55 earnings per share for the quarter, topping the consensus estimate of $0.45 by $0.10. Datadog had a net margin of 3.32% and a return on equity of 4.14%. The firm had revenue of $885.65 million during the quarter, compared to the consensus estimate of $852.77 million. During the same quarter last year, the company earned $0.46 earnings per share. The company’s revenue was up 28.4% on a year-over-year basis. Datadog has set its FY 2025 guidance at 2.000-2.020 EPS and its Q4 2025 guidance at 0.54-0.56 EPS. Research analysts predict that Datadog, Inc. will post 0.34 earnings per share for the current year.

Insider Buying and Selling

In other news, CTO Alexis Le-Quoc sold 53,912 shares of the firm’s stock in a transaction on Tuesday, November 11th. The stock was sold at an average price of $197.99, for a total value of $10,674,036.88. Following the completion of the transaction, the chief technology officer directly owned 395,661 shares of the company’s stock, valued at $78,336,921.39. This trade represents a 11.99% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Amit Agarwal sold 45,444 shares of Datadog stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $150.08, for a total value of $6,820,235.52. Following the completion of the transaction, the director owned 1,640 shares of the company’s stock, valued at approximately $246,131.20. This trade represents a 96.52% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 1,358,667 shares of company stock worth $237,887,928 in the last 90 days. 8.70% 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.