Geneva Capital Management LLC Purchases Shares of 77,111 Datadog, Inc. (NASDAQ:DDOG)

Key Points

• Geneva Capital Management LLC acquired 77,111 shares of Datadog, Inc. (valued at approximately $7.65 million) in the first quarter, highlighting significant institutional interest in the company.
• Datadog reported strong quarterly earnings with $0.46 EPS, exceeding estimates and reflecting a 24.6% year-over-year revenue growth.
• Despite recent stock sales by insiders and mixed analyst ratings, Datadog maintains an average rating of "Moderate Buy" with a target price of $146.79.

Geneva Capital Management LLC purchased a new position in shares of Datadog, Inc. (NASDAQ:DDOG - Free Report) in the first quarter, according to its most recent filing with the SEC. The firm purchased 77,111 shares of the company's stock, valued at approximately $7,650,000.

Several other hedge funds have also recently made changes to their positions in the business. Putney Financial Group LLC purchased a new stake in shares of Datadog in the fourth quarter worth about $32,000. Elequin Capital LP bought a new position in Datadog in the fourth quarter worth about $34,000. Coppell Advisory Solutions LLC lifted its position in Datadog by 178.8% during the 4th quarter. Coppell Advisory Solutions LLC now owns 276 shares of the company's stock valued at $40,000 after acquiring an additional 177 shares during the period. Cornerstone Planning Group LLC grew its stake in shares of Datadog by 96.9% in the 1st quarter. Cornerstone Planning Group LLC now owns 313 shares of the company's stock worth $30,000 after buying an additional 154 shares during the last quarter. Finally, Itau Unibanco Holding S.A. boosted its position in shares of Datadog by 417.7% during the fourth quarter. Itau Unibanco Holding S.A. now owns 321 shares of the company's stock valued at $46,000 after buying an additional 259 shares during the last quarter. 78.29% of the stock is owned by institutional investors.

Analysts Set New Price Targets

DDOG has been the topic of several recent research reports. Stifel Nicolaus raised their price objective on Datadog from $120.00 to $135.00 and gave the stock a "hold" rating in a research note on Thursday, June 26th. Wells Fargo & Company lowered their price objective on Datadog from $140.00 to $115.00 and set an "equal weight" rating for the company in a research note on Wednesday, May 7th. Royal Bank Of Canada reiterated an "outperform" rating and issued a $119.00 price target on shares of Datadog in a report on Wednesday, May 7th. Morgan Stanley increased their price objective on Datadog from $115.00 to $165.00 and gave the stock an "equal weight" rating in a research note on Thursday, July 10th. Finally, Barclays boosted their price objective on shares of Datadog from $128.00 to $170.00 and gave the stock an "overweight" rating in a research note on Monday, July 21st. One analyst has rated the stock with a sell rating, five have assigned a hold rating and twenty-four have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $148.86.

Insiders Place Their Bets

In other Datadog news, Director Amit Agarwal sold 25,000 shares of Datadog stock in a transaction dated Wednesday, May 28th. The shares were sold at an average price of $117.02, for a total transaction of $2,925,500.00. Following the completion of the sale, the director directly owned 76,052 shares in the company, valued at $8,899,605.04. This trade represents a 24.74% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Alexis Le-Quoc sold 127,105 shares of the stock in a transaction that occurred on Wednesday, June 4th. The stock was sold at an average price of $119.96, for a total transaction of $15,247,515.80. Following the transaction, the chief technology officer directly owned 452,769 shares of the company's stock, valued at $54,314,169.24. The trade was a 21.92% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 794,450 shares of company stock valued at $100,732,467. Insiders own 8.70% of the company's stock.

Datadog Price Performance

DDOG traded up $4.02 on Wednesday, reaching $136.96. 7,375,356 shares of the company's stock were exchanged, compared to its average volume of 5,180,932. Datadog, Inc. has a twelve month low of $81.63 and a twelve month high of $170.08. The stock has a market cap of $47.30 billion, a PE ratio of 297.75, a P/E/G ratio of 73.11 and a beta of 1.02. The company has a debt-to-equity ratio of 0.34, a current ratio of 2.74 and a quick ratio of 2.74. The stock's fifty day moving average price is $134.10 and its 200-day moving average price is $120.85.

Datadog (NASDAQ:DDOG - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The company reported $0.46 earnings per share for the quarter, beating the consensus estimate of $0.42 by $0.04. The business had revenue of $761.55 million during the quarter, compared to analysts' expectations of $741.73 million. Datadog had a net margin of 5.85% and a return on equity of 6.39%. The business's revenue for the quarter was up 24.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.44 EPS. Sell-side analysts expect that Datadog, Inc. will post 0.34 EPS for the current year.

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.