Nuveen LLC Buys Shares of 957,260 Datadog, Inc. (NASDAQ:DDOG)

Key Points

• Nuveen LLC has acquired 957,260 shares of Datadog, valued at approximately $94.97 million, representing 0.28% ownership of the company as of its latest SEC filing.
• Analysts have a consensus rating of "Moderate Buy" for Datadog's stock, with a price target of $151.72, as 24 analysts provided buy ratings.
• Datadog's recent quarterly earnings report showed an EPS of $0.46, exceeding expectations, with revenue of $826.76 million, a 28.1% increase year-over-year.

Nuveen LLC acquired a new position in shares of Datadog, Inc. (NASDAQ:DDOG - Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The firm acquired 957,260 shares of the company's stock, valued at approximately $94,970,000. Nuveen LLC owned approximately 0.28% of Datadog at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Emerald Advisers LLC lifted its stake in shares of Datadog by 1.1% in the 1st quarter. Emerald Advisers LLC now owns 9,300 shares of the company's stock valued at $923,000 after purchasing an additional 97 shares in the last quarter. YANKCOM Partnership lifted its stake in shares of Datadog by 12.0% in the 1st quarter. YANKCOM Partnership now owns 927 shares of the company's stock valued at $92,000 after purchasing an additional 99 shares in the last quarter. SageView Advisory Group LLC lifted its stake in shares of Datadog by 4.9% in the 4th quarter. SageView Advisory Group LLC now owns 2,176 shares of the company's stock valued at $311,000 after purchasing an additional 101 shares in the last quarter. Covestor Ltd lifted its stake in shares of Datadog by 8.9% in the 1st quarter. Covestor Ltd now owns 1,388 shares of the company's stock valued at $138,000 after purchasing an additional 113 shares in the last quarter. Finally, State of Wyoming lifted its stake in shares of Datadog by 3.7% in the 4th quarter. State of Wyoming now owns 3,277 shares of the company's stock valued at $468,000 after purchasing an additional 117 shares in the last quarter. Hedge funds and other institutional investors own 78.29% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on DDOG shares. Mizuho boosted their price target on Datadog from $145.00 to $155.00 and gave the stock an "outperform" rating in a research report on Friday, August 8th. Needham & Company LLC reiterated a "buy" rating and issued a $175.00 price target on shares of Datadog in a report on Thursday. Cantor Fitzgerald boosted their price target on Datadog from $171.00 to $179.00 and gave the company an "overweight" rating in a report on Thursday, August 7th. Royal Bank Of Canada restated an "outperform" rating and set a $119.00 price objective on shares of Datadog in a research note on Wednesday, May 7th. Finally, Canaccord Genuity Group upped their price objective on Datadog from $145.00 to $160.00 and gave the stock a "buy" rating in a research note on Friday, August 8th. One analyst has rated the stock with a sell rating, five have issued a hold rating and twenty-four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $152.93.

Insider Buying and Selling at Datadog

In other Datadog news, Director Shardul Shah sold 7,924 shares of Datadog stock in a transaction on Tuesday, July 15th. The shares were sold at an average price of $140.80, for a total transaction of $1,115,699.20. Following the completion of the transaction, the director directly owned 380,281 shares of the company's stock, valued at $53,543,564.80. The trade was a 2.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Titilope Cole sold 2,210 shares of the company's stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $136.59, for a total value of $301,863.90. Following the completion of the transaction, the director directly owned 6,347 shares in the company, valued at $866,936.73. The trade was a 25.83% decrease in their position. The disclosure for this sale can be found here. Insiders sold 846,051 shares of company stock valued at $107,936,283 over the last quarter. 8.70% of the stock is owned by corporate insiders.

Datadog Stock Performance

NASDAQ:DDOG traded up $2.73 during mid-day trading on Friday, hitting $127.25. 4,565,628 shares of the company's stock traded hands, compared to its average volume of 5,961,600. The firm has a 50 day moving average of $135.95 and a two-hundred day moving average of $120.36. 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 12 month low of $81.63 and a 12 month high of $170.08. The firm has a market capitalization of $44.38 billion, a price-to-earnings ratio of 363.58, a price-to-earnings-growth ratio of 59.60 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 earnings per share (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 firm had revenue of $826.76 million during the quarter, compared to the consensus estimate of $791.72 million. During the same quarter in the previous year, the company posted $0.43 EPS. The business's revenue for the quarter was up 28.1% compared to the same quarter last year. On average, equities analysts forecast that Datadog, Inc. will post 0.34 earnings per share for the current fiscal year.

About Datadog

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.