ING Groep NV Invests $1.05 Million in Datadog, Inc. (NASDAQ:DDOG)

Key Points

• ING Groep NV has acquired a $1.05 million stake in Datadog, purchasing 10,610 shares during the 1st quarter.
• Datadog reported a 28.1% increase in revenue year-over-year, with quarterly earnings of $0.46 EPS, surpassing the consensus estimate of $0.41.
• Institutional investors now hold 78.29% of Datadog's stock, indicating strong interest and confidence in the company.

ING Groep NV bought a new stake in shares of Datadog, Inc. (NASDAQ:DDOG - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 10,610 shares of the company's stock, valued at approximately $1,053,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. OVERSEA CHINESE BANKING Corp Ltd increased its stake in Datadog by 887.0% in the 1st quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 25,199 shares of the company's stock worth $25,000 after acquiring an additional 22,646 shares during the last quarter. Cornerstone Planning Group LLC increased its position in shares of Datadog by 96.9% during the 1st quarter. Cornerstone Planning Group LLC now owns 313 shares of the company's stock valued at $30,000 after purchasing an additional 154 shares during the last quarter. Putney Financial Group LLC bought a new position in shares of Datadog during the 4th quarter valued at approximately $32,000. Elequin Capital LP bought a new position in shares of Datadog during the 4th quarter valued at approximately $34,000. Finally, Opal Wealth Advisors LLC bought a new position in shares of Datadog during the 1st quarter valued at approximately $37,000. Institutional investors own 78.29% of the company's stock.

Datadog Stock Performance

Datadog stock traded down $5.47 during midday trading on Friday, hitting $130.91. 10,857,862 shares of the company were exchanged, compared to its average volume of 5,445,083. The company has a debt-to-equity ratio of 0.31, a quick ratio of 2.74 and a current ratio of 3.43. Datadog, Inc. has a fifty-two week low of $81.63 and a fifty-two week high of $170.08. The business has a fifty day simple moving average of $135.18 and a two-hundred day simple moving average of $120.89. The firm has a market capitalization of $45.21 billion, a PE ratio of 374.04, a price-to-earnings-growth ratio of 75.00 and a beta of 1.02.

Datadog (NASDAQ:DDOG - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The company reported $0.46 EPS for the quarter, beating the consensus estimate of $0.41 by $0.05. Datadog had a return on equity of 5.04% and a net margin of 4.13%. The company had revenue of $826.76 million for the quarter, compared to analyst estimates of $791.72 million. During the same period last year, the company earned $0.43 earnings per share. Datadog's quarterly revenue was up 28.1% compared to the same quarter last year. On average, sell-side analysts forecast that Datadog, Inc. will post 0.34 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Guggenheim reissued a "sell" rating and set a $105.00 target price on shares of Datadog in a research report on Tuesday, July 8th. Jefferies Financial Group boosted their target price on Datadog from $135.00 to $160.00 and gave the company a "buy" rating in a research report on Monday, August 4th. UBS Group set a $165.00 target price on Datadog and gave the company a "buy" rating in a research report on Thursday. BTIG Research set a $136.00 price objective on Datadog and gave the company a "buy" rating in a report on Tuesday, May 6th. Finally, Wedbush restated an "outperform" rating and set a $140.00 price objective on shares of Datadog in a report on Wednesday, June 11th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and twenty-four have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $151.72.

Insider Buying and Selling

In other Datadog news, CEO Olivier Pomel sold 11,195 shares of the firm's stock in a transaction that occurred on Monday, July 28th. The stock was sold at an average price of $150.82, for a total value of $1,688,429.90. Following the sale, the chief executive officer directly owned 548,715 shares of the company's stock, valued at approximately $82,757,196.30. This trade represents a 2.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CTO Alexis Le-Quoc sold 41,468 shares of the firm's stock in a transaction that occurred on Tuesday, August 5th. The shares were sold at an average price of $134.47, for a total value of $5,576,201.96. Following the completion of the sale, the chief technology officer directly owned 452,769 shares in the company, valued at approximately $60,883,847.43. The trade was a 8.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 835,918 shares of company stock valued at $106,308,669 in the last 90 days. Corporate insiders own 8.70% of the company's stock.

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.