AXS Investments LLC Has $1.55 Million Stock Position in Datadog, Inc. (NASDAQ:DDOG)

Key Points

• AXS Investments LLC increased its holdings in Datadog, Inc. by 15.5% during the first quarter, owning 15,572 shares valued at approximately $1.5 million.
• Datadog reported a 24.6% year-over-year revenue increase for the most recent quarter, with earnings per share of $0.46, surpassing analysts' estimates.
• Several analysts have upgraded their price targets for Datadog, with Bank of America raising theirs from $150 to $175, and an average target price now at $148.86.

AXS Investments LLC raised its stake in Datadog, Inc. (NASDAQ:DDOG - Free Report) by 15.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 15,572 shares of the company's stock after acquiring an additional 2,085 shares during the quarter. AXS Investments LLC's holdings in Datadog were worth $1,545,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of DDOG. OVERSEA CHINESE BANKING Corp Ltd grew its position in shares of Datadog by 887.0% during the 1st quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 25,199 shares of the company's stock worth $25,000 after purchasing an additional 22,646 shares in the last quarter. Cornerstone Planning Group LLC grew its position in shares of Datadog by 96.9% during the 1st quarter. Cornerstone Planning Group LLC now owns 313 shares of the company's stock worth $30,000 after purchasing an additional 154 shares in the last quarter. Costello Asset Management INC acquired a new position in shares of Datadog during the 1st quarter worth approximately $30,000. Putney Financial Group LLC acquired a new position in shares of Datadog during the 4th quarter worth approximately $32,000. Finally, Elequin Capital LP acquired a new position in shares of Datadog during the 4th quarter worth approximately $34,000. 78.29% of the stock is owned by institutional investors.

Insider Activity

In other Datadog news, CTO Alexis Le-Quoc sold 127,105 shares of Datadog stock in a transaction on Wednesday, June 4th. The shares were sold at an average price of $119.96, for a total value of $15,247,515.80. Following the completion of the sale, the chief technology officer directly owned 452,769 shares of the company's stock, valued at approximately $54,314,169.24. The trade was a 21.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Amit Agarwal sold 25,000 shares of Datadog stock in a transaction on 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 of the company's stock, valued at approximately $8,899,605.04. This trade represents a 24.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 835,918 shares of company stock worth $106,308,669 over the last ninety days. Corporate insiders own 8.70% of the company's stock.

Datadog Trading Down 4.0%

NASDAQ DDOG traded down $5.47 during mid-day trading on Friday, reaching $130.91. 10,857,862 shares of the stock were exchanged, compared to its average volume of 5,445,083. Datadog, Inc. has a one year low of $81.63 and a one year high of $170.08. The stock has a 50 day simple moving average of $135.18 and a 200-day simple moving average of $120.89. The stock has a market cap of $45.21 billion, a P/E ratio of 311.69, a P/E/G ratio of 71.99 and a beta of 1.02. The company has a debt-to-equity ratio of 0.31, a current ratio of 3.43 and a quick ratio of 2.74.

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

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Barclays set a $170.00 target price on shares of Datadog and gave the stock an "overweight" rating in a research report on Thursday. Mizuho lifted their price target on Datadog from $145.00 to $155.00 and gave the company an "outperform" rating in a research note on Friday. Needham & Company LLC set a $140.00 price target on Datadog and gave the company a "buy" rating in a research note on Thursday, June 12th. Macquarie decreased their price target on Datadog from $175.00 to $140.00 and set an "outperform" rating on the stock in a research note on Wednesday, May 7th. Finally, UBS Group set a $165.00 price target on Datadog and gave the company a "buy" rating in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and twenty-four have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $151.72.

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.