The Vanguard Group, Inc. recently announced the acquisition of new stake in Datadog Inc (NASDAQ:DDOG). The institutional investor has increased its shareholding in the Technology company by 4.70% to 25.91 million shares with purchase of 1.16 million shares. This fresh investment now brings its stake to 8.58% valued currently at $3.15 billion. In addition, BlackRock Fund Advisors raised its holdings by 1.02 million to 12.5 million shares. And T. Rowe Price Associates, Inc. has lifted its position by 80.14% or 4.73 million shares – to 10.64 million shares.
Currently, there are 293.57M common shares owned by the public and among those 273.23M shares have been available to trade.
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Insiders at the company have transacted a total of 100 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 21 of these insider trades were purchases, accounting for 779,246 shares. Insider sales of the common stock occurred on 79 occasions, with total insider shares sold totaling 571,558 shares.
The top 3 mutual fund holders in Datadog Inc are Vanguard Total Stock Market ETF, Vanguard Mid Cap Index Fund, and Invesco QQQ Trust. Vanguard Total Stock Market ETF owns 8.54 million shares of the company’s stock, all valued at over $1.04 billion. The company bought an additional 0.11 million shares recently to bring their total holdings to about 2.83% of the shares outstanding. Vanguard Mid Cap Index Fund sold 22941.0 shares to see its total holdings shrink to 6.1 million shares valued at over $739.85 million and representing 2.02% of the shares outstanding. Invesco QQQ Trust sold 14268.0 shares to bring its total holdings to over 5.56 million shares at a value of $674.5 million. Invesco QQQ Trust now owns shares totaling to 1.84% of the shares outstanding.
However, the script later moved the day high at 133.15, down -2.99%. The company’s stock has a 5-day price change of 4.22% and 49.87% over the past three months. DDOG shares are trading 6.29% year to date (YTD), with the 12-month market performance up to 81.58% higher. It has a 12-month low price of $62.60 and touched a high of $136.07 over the same period. DDOG has an average intraday trading volume of 4.31 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 5.84%, 10.35%, and 32.55% respectively.
Institutional ownership of Datadog Inc (NASDAQ: DDOG) shares accounts for 68.64% of the company’s 293.57M shares outstanding. Mutual fund holders own 41.53%, while other institutional holders and individual stakeholders account for 8.90% and 33.44% respectively.
It has a market capitalization of $42.39B and a beta (3y monthly) value of 1.18. The earnings-per-share (ttm) stands at -$0.11. Price movements for the stock have been influenced by the stock’s volatility, which stands at 3.70% over the week and 2.79% over the month.
Analysts forecast that Datadog Inc (DDOG) will achieve an EPS of $0.44 for the current quarter, $0.39 for the next quarter and $1.82 for 2024. The lowest estimate earnings-per-share for the quarter is $0.41 while analysts give the company a high EPS estimate of $0.5. Comparatively, EPS for the current quarter was $0.26 a year ago. Earnings per share for the fiscal year are expected to increase by 53.34%, and 17.75% over the next financial year. EPS should grow at an annualized rate of 33.30% over the next five years, compared to -77.99% over the past 5-year period.
Looking at the support for the DDOG, a number of firms have released research notes about the stock. BMO Capital Markets stated their Outperform rating for the stock in a research note on January 16, 2024, with the firm’s price target at $140.
