ASR Vermogensbeheer N.V. Acquires New Stake in Datadog, Inc. (NASDAQ:DDOG)

Key Points

• ASR Vermogensbeheer N.V. acquired 10,658 shares of Datadog, Inc. valued at approximately $1,057,000 in the first quarter, with institutional investors now owning 78.29% of the company's stock.
• Datadog reported a strong revenue growth of 28.1% year-over-year for the quarter, achieving $826.76 million in revenue and earnings per share of $0.46.
• The stock has seen mixed analyst ratings, with price targets ranging from $105.00 to $185.00, reflecting a general consensus of a "Moderate Buy."

ASR Vermogensbeheer N.V. bought a new position in Datadog, Inc. (NASDAQ:DDOG - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 10,658 shares of the company's stock, valued at approximately $1,057,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. AXS Investments LLC increased its holdings in Datadog by 15.5% during the 1st quarter. AXS Investments LLC now owns 15,572 shares of the company's stock valued at $1,545,000 after purchasing an additional 2,085 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Datadog by 3.5% during the first quarter. Vanguard Group Inc. now owns 31,413,032 shares of the company's stock worth $3,116,487,000 after purchasing an additional 1,058,803 shares during the last quarter. Goldman Sachs Group Inc. increased its stake in shares of Datadog by 259.7% in the first quarter. Goldman Sachs Group Inc. now owns 8,658,340 shares of the company's stock valued at $858,994,000 after buying an additional 6,250,942 shares in the last quarter. Intrust Bank NA acquired a new stake in shares of Datadog in the first quarter valued at $298,000. Finally, iA Global Asset Management Inc. raised its holdings in shares of Datadog by 3.4% in the first quarter. iA Global Asset Management Inc. now owns 34,923 shares of the company's stock valued at $3,465,000 after buying an additional 1,164 shares during the last quarter. Institutional investors own 78.29% of the company's stock.

Insider Activity at Datadog

In other news, CFO David M. Obstler sold 15,000 shares of the company's stock in a transaction dated Thursday, July 3rd. The stock was sold at an average price of $147.43, for a total value of $2,211,450.00. Following the sale, the chief financial officer owned 399,270 shares in the company, valued at $58,864,376.10. This represents a 3.62% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO Alexis Le-Quoc sold 41,468 shares of the company's stock in a transaction that occurred on Tuesday, August 5th. The stock was 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 owned 452,769 shares in the company, valued at approximately $60,883,847.43. This represents a 8.39% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 835,918 shares of company stock valued at $106,308,669 over the last three months. Company insiders own 8.70% of the company's stock.

Datadog Stock Performance

NASDAQ DDOG traded down $5.47 on Friday, reaching $130.91. 10,857,862 shares of the stock were exchanged, compared to its average volume of 5,672,621. The company has a current ratio of 3.43, a quick ratio of 2.74 and a debt-to-equity ratio of 0.31. Datadog, Inc. has a one year low of $81.63 and a one year high of $170.08. The firm has a market capitalization of $45.21 billion, a PE ratio of 374.04, a PEG ratio of 69.33 and a beta of 1.02. The company's 50-day simple moving average is $135.18 and its two-hundred day simple moving average is $120.62.

Datadog (NASDAQ:DDOG - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The company reported $0.46 earnings per share for the quarter, topping the consensus estimate of $0.41 by $0.05. The business had revenue of $826.76 million during the quarter, compared to the consensus estimate of $791.72 million. Datadog had a return on equity of 5.04% and a net margin of 4.13%. The firm's revenue for the quarter was up 28.1% compared to the same quarter last year. During the same period in the prior year, the company posted $0.43 EPS. Analysts expect that Datadog, Inc. will post 0.34 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Monness Crespi & Hardt increased their price objective on shares of Datadog from $160.00 to $185.00 and gave the company a "buy" rating in a report on Thursday. Royal Bank Of Canada reiterated an "outperform" rating and set a $119.00 target price on shares of Datadog in a research report on Wednesday, May 7th. Canaccord Genuity Group increased their price target on Datadog from $145.00 to $160.00 and gave the company a "buy" rating in a research note on Friday. Macquarie decreased their price objective on Datadog from $175.00 to $140.00 and set an "outperform" rating for the company in a research note on Wednesday, May 7th. Finally, Morgan Stanley upped their price objective on Datadog from $115.00 to $165.00 and gave the company an "equal weight" rating in a report on Thursday, July 10th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and twenty-four have given a buy rating to the company's stock. According to MarketBeat.com, Datadog has an average rating of "Moderate Buy" and an average target price of $151.72.

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.