Commerce Bank Increases Position in Datadog, Inc. (NASDAQ:DDOG)

Key Points

• Commerce Bank increased its holdings in Datadog, Inc. by 27.8%, acquiring an additional 5,777 shares, bringing its total ownership to 26,532 shares valued at approximately $2.63 million.
• CEO Olivier Pomel sold 107,365 shares of Datadog stock for over $13 million, representing a 16.36% decrease in his position.
• Datadog's stock has seen a 52-week range of $81.63 to $170.08, with a recent price of $139.13, and the company reported a year-over-year revenue increase of 24.6%.

Commerce Bank grew its stake in Datadog, Inc. (NASDAQ:DDOG - Free Report) by 27.8% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 26,532 shares of the company's stock after purchasing an additional 5,777 shares during the period. Commerce Bank's holdings in Datadog were worth $2,632,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Janus Henderson Group PLC increased its position in Datadog by 17,477.2% during the fourth quarter. Janus Henderson Group PLC now owns 4,016,558 shares of the company's stock valued at $573,923,000 after acquiring an additional 3,993,707 shares during the last quarter. Brown Advisory Inc. raised its position in Datadog by 2,804.2% in the 4th quarter. Brown Advisory Inc. now owns 2,749,174 shares of the company's stock worth $392,830,000 after purchasing an additional 2,654,512 shares during the period. Baillie Gifford & Co. lifted its stake in Datadog by 12.6% in the first quarter. Baillie Gifford & Co. now owns 12,274,655 shares of the company's stock worth $1,217,769,000 after purchasing an additional 1,369,522 shares during the last quarter. Assenagon Asset Management S.A. boosted its position in shares of Datadog by 341.0% during the first quarter. Assenagon Asset Management S.A. now owns 1,569,341 shares of the company's stock valued at $155,694,000 after buying an additional 1,213,475 shares during the period. Finally, Fullerton Fund Management Co Ltd. bought a new position in shares of Datadog during the fourth quarter valued at approximately $165,757,000. Hedge funds and other institutional investors own 78.29% of the company's stock.

Insider Buying and Selling

In other news, Director Amit Agarwal sold 25,000 shares of the stock in a transaction that occurred on Wednesday, May 28th. The shares were sold at an average price of $117.02, for a total value of $2,925,500.00. Following the completion of the sale, the director owned 76,052 shares of the company's stock, valued at $8,899,605.04. This represents a 24.74% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CTO Alexis Le-Quoc sold 127,105 shares of the stock in a transaction that occurred on Wednesday, June 4th. The stock was sold at an average price of $119.96, for a total value of $15,247,515.80. Following the completion of the transaction, the chief technology officer owned 452,769 shares of the company's stock, valued at $54,314,169.24. The trade was a 21.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 794,450 shares of company stock worth $100,732,467 in the last quarter. 8.70% of the stock is currently owned by insiders.

Datadog Price Performance

DDOG traded up $4.02 on Wednesday, hitting $136.96. 7,375,356 shares of the company's stock were exchanged, compared to its average volume of 5,841,997. Datadog, Inc. has a fifty-two week low of $81.63 and a fifty-two week high of $170.08. The stock has a market cap of $47.30 billion, a price-to-earnings ratio of 297.75, a P/E/G ratio of 76.51 and a beta of 1.02. 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 firm has a 50-day moving average price of $134.10 and a 200-day moving average price of $120.85.

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, beating the consensus estimate of $0.42 by $0.04. The firm had revenue of $761.55 million during the quarter, compared to analysts' expectations of $741.73 million. Datadog had a return on equity of 6.39% and a net margin of 5.85%. The business's revenue for the quarter was up 24.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.44 earnings per share. As a group, equities analysts anticipate that Datadog, Inc. will post 0.34 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages have commented on DDOG. BTIG Research set a $136.00 price objective on Datadog and gave the company a "buy" rating in a research report on Tuesday, May 6th. UBS Group increased their price objective on Datadog from $140.00 to $165.00 and gave the stock a "buy" rating in a research note on Wednesday, July 16th. Macquarie decreased their price objective on Datadog from $175.00 to $140.00 and set an "outperform" rating for the company in a report on Wednesday, May 7th. Needham & Company LLC set a $140.00 target price on Datadog and gave the company a "buy" rating in a research report on Thursday, June 12th. Finally, Scotiabank set a $130.00 target price on shares of Datadog and gave the company an "outperform" rating in a research report 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 assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $148.86.

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.