T. Rowe Price Associates, Inc. (I.. recently announced the acquisition of new stake in Datadog Inc. (NASDAQ:DDOG). The institutional investor has increased its shareholding in the Technology company by 1.75% to 23.14 million shares with purchase of 0.4 million shares. This fresh investment now brings its stake to 13.15% valued currently at $2.17 billion. In addition, The Vanguard Group, Inc. raised its holdings by 8.64 million to 11.05 million shares.
With over 4.81 million Datadog Inc. (DDOG) shares trading Monday and a closing price of $83.55 on the day, the dollar volume was approximately $401.51 million. The shares have shown a negative weekly performance of -0.94% and its price on 08/31/20 gained nearly 0.69%. Currently, there are 299.27M common shares owned by the public and among those 184.76M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 16 analysts who have offered their price forecasts for DDOG have a consensus price objective of $93.75. The analysts have set the share’s price value over the next 12 months at a high of $107.00 and a low of $80.00 should the stock experience a downside. Incidentally, analysts’ outlook for the Datadog Inc. stock is 2.40 for the next 12 months. The average price target is 10.88% above its last price level and an upside to the estimated low will see the stock lose -4.44% over that period. But an upside of 21.92% will see the stock hit the forecast high price target while mean target price for the stock is $97.50.
Insiders at the company have transacted a total of 272 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 60 of these insider trades were purchases, accounting for 27,916,357 shares. Insider sales of the common stock occurred on 212 occasions, with total insider shares sold totaling 36,161,354 shares.
The top 3 mutual fund holders in Datadog Inc. are T Rowe Price New Horizons Fund, Vanguard Total Stock Market Index, and T Rowe Price Growth Stock Fund. T Rowe Price New Horizons Fund owns 8.43 million shares of the company’s stock, all valued at over $791.41 million. The company bought an additional 1.48 million shares recently to bring their total holdings to about 4.79% of the shares outstanding. Vanguard Total Stock Market Index sold 17905.0 shares to see its total holdings shrink to 4.0 million shares valued at over $375.41 million and representing 2.27% of the shares outstanding. T Rowe Price Growth Stock Fund sold 32200.0 shares to bring its total holdings to over 3.57 million shares at a value of $335.46 million. T Rowe Price Growth Stock Fund now owns shares totaling to 2.03% of the shares outstanding.
Shares of Datadog Inc. (NASDAQ: DDOG) opened at $83.49, up $0.51 from a prior closing price of $82.98. However, the script later closed the day at $83.55, up 0.69%. The company’s stock has a 5-day price change of -0.94% and 17.99% over the past three months. It has a 12-month low price of $27.55 and touched a high of $98.99 over the same period. Currently, 4.81 million shares have been traded, compared to an average intraday trading volume of 4.61 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -0.77%, -4.22%, and 47.59% respectively.
Institutional ownership of Datadog Inc. (NASDAQ: DDOG) shares accounts for 71.10% of the company’s 299.27M shares outstanding. Mutual fund holders own 40.98%, while other institutional holders and individual stakeholders account for 5.76% and 26.47% respectively.
It has a market capitalization of $25.51B. The stock’s trailing 12-month PE ratio is 8355.00, while the earnings-per-share (ttm) stands at $0.01. Price movements for the stock have been influenced by the stock’s volatility, which stands at 4.42% over the week and 5.21% over the month.
Analysts forecast that Datadog Inc. (DDOG) will achieve an EPS of $0.01 for the current quarter, $0.01 for the next quarter and $0.15 for 2021. The lowest estimate earnings-per-share for the quarter is $0 while analysts give the company a high EPS estimate of $0.02. Comparatively, EPS for the current quarter was $0 a year ago. Earnings per share for the fiscal year are expected to decrease by -51.80%, and 19.20% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 16 brokerage firm advisors rate Datadog Inc. (DDOG) as a “Moderate Buy” at a consensus score of 2.40. Specifically, 8 Wall Street analysts polled rate the stock as a buy, while 8 of the 16 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the DDOG, a number of firms have released research notes about the stock. Needham stated their Buy rating for the stock in a research note on August 07, 2020, with the firm’s price target at $105-$106. FBN Securities coverage for the Datadog Inc. (DDOG) stock in a research note released on July 10, 2020 offered a Outperform rating with a price target of $115. Rosenblatt was of a view on July 07, 2020 that the stock is Buy, while Needham gave the stock Buy rating on May 12, 2020, issuing a price target of $58- $70. Needham on their part issued Buy rating on April 27, 2020.