Assetmark Inc. Increases Stock Position in Datadog, Inc. (NASDAQ:DDOG)

Key Points

• Assetmark Inc. increased its holdings in Datadog, Inc. by 55.3% during the first quarter, bringing its total shares owned to 170,461, valued at approximately $16.91 million.
• In the last 90 days, corporate insiders at Datadog sold a combined total of $117.6 million worth of shares, indicating significant insider trading activity.
• Datadog's recent earnings report showed 24.6% revenue growth year-over-year, with reported revenue of $761.55 million, surpassing analyst expectations.

Assetmark Inc. lifted its position in shares of Datadog, Inc. (NASDAQ:DDOG - Free Report) by 55.3% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 170,461 shares of the company's stock after buying an additional 60,687 shares during the period. Assetmark Inc.'s holdings in Datadog were worth $16,911,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also made changes to their positions in DDOG. Groupama Asset Managment increased its holdings in Datadog by 407.6% in the 4th quarter. Groupama Asset Managment now owns 6,600,000 shares of the company's stock valued at $943,074,000 after purchasing an additional 5,299,688 shares during the last quarter. Janus Henderson Group PLC increased its holdings in Datadog by 17,477.2% in the 4th quarter. Janus Henderson Group PLC now owns 4,016,558 shares of the company's stock valued at $573,923,000 after purchasing an additional 3,993,707 shares during the last quarter. Norges Bank acquired a new stake in Datadog in the 4th quarter valued at approximately $462,910,000. Brown Advisory Inc. increased its holdings in Datadog by 2,804.2% in the 4th quarter. Brown Advisory Inc. now owns 2,749,174 shares of the company's stock valued at $392,830,000 after purchasing an additional 2,654,512 shares during the last quarter. Finally, Assenagon Asset Management S.A. increased its holdings in Datadog by 341.0% in the 1st quarter. Assenagon Asset Management S.A. now owns 1,569,341 shares of the company's stock valued at $155,694,000 after purchasing an additional 1,213,475 shares during the last quarter. Institutional investors and hedge funds own 78.29% of the company's stock.

Datadog Stock Performance

Shares of Datadog stock traded up $0.93 on Monday, reaching $150.77. 2,647,060 shares of the stock were exchanged, compared to its average volume of 5,847,178. Datadog, Inc. has a 1-year low of $81.63 and a 1-year high of $170.08. The company has a current ratio of 2.74, a quick ratio of 2.74 and a debt-to-equity ratio of 0.34. The business has a fifty day moving average price of $130.32 and a two-hundred day moving average price of $120.54. The firm has a market capitalization of $52.07 billion, a PE ratio of 327.77, a PEG ratio of 82.40 and a beta of 1.03.

Datadog (NASDAQ:DDOG - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The company reported $0.46 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.42 by $0.04. Datadog had a net margin of 5.85% and a return on equity of 6.39%. The business had revenue of $761.55 million for the quarter, compared to analyst estimates of $741.73 million. During the same period in the previous year, the business posted $0.44 earnings per share. The business's revenue was up 24.6% compared to the same quarter last year. As a group, research analysts anticipate that Datadog, Inc. will post 0.34 earnings per share for the current fiscal year.

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 dated Wednesday, May 7th. The shares were sold at an average price of $105.83, for a total transaction of $13,451,522.15. Following the transaction, the chief technology officer directly owned 466,535 shares in the company, valued at approximately $49,373,399.05. This represents a 21.41% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Olivier Pomel sold 107,365 shares of the company's stock in a transaction dated Monday, June 9th. The stock was sold at an average price of $121.71, for a total transaction of $13,067,394.15. Following the transaction, the chief executive officer owned 548,715 shares in the company, valued at $66,784,102.65. The trade was a 16.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 957,666 shares of company stock valued at $117,576,223. Insiders own 8.70% of the company's stock.

Analyst Ratings Changes

Several analysts recently weighed in on the stock. Jefferies Financial Group reiterated a "buy" rating on shares of Datadog in a report on Tuesday, May 6th. BTIG Research set a $136.00 price target on shares of Datadog and gave the stock a "buy" rating in a research note on Tuesday, May 6th. DA Davidson boosted their price target on shares of Datadog from $115.00 to $125.00 and gave the stock a "buy" rating in a research note on Monday, May 5th. Mizuho boosted their price target on shares of Datadog from $125.00 to $145.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 16th. Finally, UBS Group boosted their price target on shares of Datadog from $140.00 to $165.00 and gave the stock a "buy" rating in a research note on Wednesday, July 16th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and twenty-four have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Datadog presently has an average rating of "Moderate Buy" and a consensus price target of $146.79.

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.