Assenagon Asset Management S.A. Increases Stake in Datadog, Inc. (NASDAQ:DDOG)

Assenagon Asset Management S.A. boosted its stake in shares of Datadog, Inc. (NASDAQ:DDOG - Free Report) by 341.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,569,341 shares of the company's stock after purchasing an additional 1,213,475 shares during the quarter. Assenagon Asset Management S.A. owned about 0.46% of Datadog worth $155,694,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of DDOG. Putney Financial Group LLC acquired a new stake in shares of Datadog during the 4th quarter worth approximately $32,000. Elequin Capital LP purchased a new stake in Datadog in the 4th quarter worth about $34,000. MassMutual Private Wealth & Trust FSB increased its position in shares of Datadog by 74.0% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 381 shares of the company's stock valued at $38,000 after buying an additional 162 shares during the period. Coppell Advisory Solutions LLC increased its position in shares of Datadog by 178.8% during the fourth quarter. Coppell Advisory Solutions LLC now owns 276 shares of the company's stock valued at $40,000 after buying an additional 177 shares during the period. Finally, Summit Securities Group LLC bought a new stake in Datadog in the 4th quarter worth approximately $43,000. 78.29% of the stock is currently owned by institutional investors and hedge funds.

Datadog Trading Up 3.4%

Shares of DDOG stock traded up $4.05 during trading hours on Thursday, reaching $122.68. The stock had a trading volume of 4,949,838 shares, compared to its average volume of 4,403,392. The stock's fifty day simple moving average is $107.34 and its 200 day simple moving average is $123.79. 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 $42.37 billion, a PE ratio of 240.55, a PEG ratio of 44.03 and a beta of 1.01.

Datadog (NASDAQ:DDOG - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The company reported $0.46 EPS for the quarter, topping the consensus estimate of $0.42 by $0.04. Datadog had a net margin of 6.85% and a return on equity of 8.28%. The firm had revenue of $761.55 million for the quarter, compared to the consensus estimate of $741.73 million. During the same period last year, the firm posted $0.44 earnings per share. The business's revenue was up 24.6% compared to the same quarter last year. As a group, equities research analysts anticipate that Datadog, Inc. will post 0.34 EPS for the current fiscal year.

Analyst Ratings Changes

DDOG has been the topic of several recent research reports. Needham & Company LLC upped their price target on Datadog from $130.00 to $140.00 and gave the stock a "buy" rating in a research note on Thursday. Macquarie decreased their price objective on Datadog from $175.00 to $140.00 and set an "outperform" rating on the stock in a research note on Wednesday, May 7th. Cantor Fitzgerald restated an "overweight" rating and set a $134.00 price target on shares of Datadog in a report on Wednesday, May 7th. Wells Fargo & Company dropped their price objective on Datadog from $140.00 to $115.00 and set an "equal weight" rating for the company in a report on Wednesday, May 7th. Finally, Stifel Nicolaus set a $120.00 target price on Datadog in a research report on Tuesday, May 6th. Six analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the stock. According to data from MarketBeat.com, Datadog presently has an average rating of "Moderate Buy" and a consensus target price of $142.25.

Insider Buying and Selling at Datadog

In other Datadog news, CTO Alexis Le-Quoc sold 127,105 shares of the company's stock in a transaction on Wednesday, May 7th. The stock was sold at an average price of $105.83, for a total value of $13,451,522.15. Following the transaction, the chief technology officer now owns 466,535 shares of the company's stock, valued at $49,373,399.05. This represents a 21.41% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Olivier Pomel sold 107,365 shares of the stock in a transaction on Monday, April 7th. The stock was sold at an average price of $87.33, for a total value of $9,376,185.45. Following the transaction, the chief executive officer now directly owns 563,598 shares in the company, valued at $49,219,013.34. The trade was a 16.00% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 700,582 shares of company stock valued at $77,926,597. 8.70% of the stock is currently owned by company insiders.

Datadog Company 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.