Banque Cantonale Vaudoise Takes Position in Datadog, Inc. (NASDAQ:DDOG)

Key Points

• Banque Cantonale Vaudoise has acquired a new position in Datadog, purchasing 6,803 shares valued at approximately $674,000.
• Datadog reported a 24.6% year-over-year revenue increase, achieving $761.55 million for the quarter, and earnings per share of $0.46, surpassing estimates by $0.04.
• Institutional investors hold 78.29% of Datadog's stock, with notable stakes growing significantly from firms like Baillie Gifford and Brown Advisory.

Banque Cantonale Vaudoise bought a new stake in Datadog, Inc. (NASDAQ:DDOG - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 6,803 shares of the company's stock, valued at approximately $674,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Wealth Enhancement Advisory Services LLC grew its stake in Datadog by 32.0% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 15,506 shares of the company's stock valued at $2,216,000 after acquiring an additional 3,760 shares during the last quarter. LBP AM SA raised its stake in shares of Datadog by 40.2% in the 1st quarter. LBP AM SA now owns 419,805 shares of the company's stock valued at $41,649,000 after purchasing an additional 120,343 shares in the last quarter. Envestnet Asset Management Inc. lifted its position in shares of Datadog by 24.7% in the 1st quarter. Envestnet Asset Management Inc. now owns 787,344 shares of the company's stock worth $78,112,000 after buying an additional 156,152 shares during the last quarter. Total Wealth Planning & Management Inc. bought a new position in Datadog during the 4th quarter worth $314,000. Finally, Soros Fund Management LLC lifted its stake in shares of Datadog by 14.3% in the 4th quarter. Soros Fund Management LLC now owns 192,190 shares of the company's stock worth $27,462,000 after acquiring an additional 24,100 shares during the period. 78.29% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on DDOG. Barclays boosted their price target on shares of Datadog from $128.00 to $170.00 and gave the company an "overweight" rating in a report on Monday, July 21st. Jefferies Financial Group reaffirmed a "buy" rating on shares of Datadog in a report on Tuesday, May 6th. Scotiabank set a $130.00 target price on shares of Datadog and gave the stock an "outperform" rating in a research report on Wednesday, May 7th. Needham & Company LLC set a $140.00 price objective on shares of Datadog and gave the company a "buy" rating in a research report on Thursday, June 12th. Finally, Wells Fargo & Company reduced their target price on shares of Datadog from $140.00 to $115.00 and set an "equal weight" rating on the stock in a research note on Wednesday, May 7th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and twenty-four have given a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $146.79.

Datadog Stock Performance

Shares of Datadog stock traded down $4.38 during trading on Friday, reaching $135.60. The company's stock had a trading volume of 6,063,868 shares, compared to its average volume of 9,555,494. Datadog, Inc. has a 52 week low of $81.63 and a 52 week high of $170.08. The business's 50-day moving average price is $133.30 and its 200-day moving average price is $120.87. The company has a quick ratio of 2.74, a current ratio of 2.74 and a debt-to-equity ratio of 0.34. The firm has a market cap of $46.83 billion, a PE ratio of 294.79, a P/E/G ratio of 74.57 and a beta of 1.02.

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

Insider Activity

In other Datadog news, Director Matthew Jacobson sold 47,306 shares of the stock in a transaction that occurred on Wednesday, May 7th. The shares were sold at an average price of $107.40, for a total transaction of $5,080,664.40. Following the transaction, the director directly owned 25,468 shares in the company, valued at $2,735,263.20. This trade represents a 65.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Olivier Pomel sold 107,365 shares of the stock in a transaction on Monday, June 9th. The shares were sold at an average price of $121.71, for a total transaction of $13,067,394.15. Following the transaction, the chief executive officer directly owned 548,715 shares in the company, valued at approximately $66,784,102.65. This represents a 16.36% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 968,861 shares of company stock worth $119,264,653. Company insiders own 8.70% of the company's stock.

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.