Covea Finance Acquires 4,000 Shares of Datadog, Inc. (NASDAQ:DDOG)

Covea Finance increased its position in Datadog, Inc. (NASDAQ:DDOG - Free Report) by 13.6% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 33,400 shares of the company's stock after purchasing an additional 4,000 shares during the period. Covea Finance's holdings in Datadog were worth $3,314,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of DDOG. ORG Partners LLC bought a new stake in shares of Datadog in the 1st quarter valued at approximately $49,000. Blue Trust Inc. increased its stake in Datadog by 24.2% during the first quarter. Blue Trust Inc. now owns 3,044 shares of the company's stock valued at $302,000 after purchasing an additional 593 shares during the last quarter. Institute for Wealth Management LLC. raised its holdings in shares of Datadog by 25.9% during the first quarter. Institute for Wealth Management LLC. now owns 4,055 shares of the company's stock worth $402,000 after purchasing an additional 833 shares during the period. State of Alaska Department of Revenue lifted its position in shares of Datadog by 316.8% in the 1st quarter. State of Alaska Department of Revenue now owns 7,236 shares of the company's stock worth $717,000 after buying an additional 5,500 shares during the last quarter. Finally, Insigneo Advisory Services LLC boosted its holdings in shares of Datadog by 8.7% in the 1st quarter. Insigneo Advisory Services LLC now owns 2,530 shares of the company's stock valued at $251,000 after buying an additional 202 shares during the period. 78.29% of the stock is owned by institutional investors.

Datadog Trading Up 1.0%

NASDAQ DDOG traded up $1.31 on Tuesday, hitting $130.83. 2,999,816 shares of the company were exchanged, compared to its average volume of 4,426,297. The company has a debt-to-equity ratio of 0.34, a current ratio of 2.74 and a quick ratio of 2.74. Datadog, Inc. has a twelve month low of $81.63 and a twelve month high of $170.08. The firm has a market capitalization of $45.18 billion, a P/E ratio of 284.42, a price-to-earnings-growth ratio of 70.67 and a beta of 1.01. The company's 50 day moving average price is $112.11 and its 200-day moving average price is $121.79.

Datadog (NASDAQ:DDOG - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The company reported $0.46 earnings per share (EPS) for the quarter, beating 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 quarter in the previous year, the business earned $0.44 earnings per share. The firm's revenue was up 24.6% compared to the same quarter last year. Analysts predict that Datadog, Inc. will post 0.34 earnings per share for the current fiscal year.

Insider Activity

In other Datadog news, CTO Alexis Le-Quoc sold 127,105 shares of Datadog stock in a transaction on 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 completion of the sale, the chief technology officer now owns 466,535 shares of the company's stock, valued at $49,373,399.05. This trade represents a 21.41% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Olivier Pomel sold 107,365 shares of the company's stock in a transaction on Monday, April 7th. The stock was sold at an average price of $87.33, for a total transaction of $9,376,185.45. Following the completion of the transaction, the chief executive officer now directly owns 563,598 shares in the company, valued at $49,219,013.34. This trade represents a 16.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 777,966 shares of company stock worth $87,512,075. 8.70% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts have commented on the company. Rosenblatt Securities decreased their target price on Datadog from $160.00 to $150.00 and set a "buy" rating for the company in a research note on Monday, May 5th. Scotiabank set a $130.00 price target on Datadog and gave the stock an "outperform" rating in a report on Wednesday, May 7th. Barclays upped their price objective on Datadog from $125.00 to $128.00 and gave the stock an "overweight" rating in a research note on Tuesday, May 6th. Bank of America boosted their price target on shares of Datadog from $138.00 to $150.00 and gave the company a "buy" rating in a report on Wednesday, June 18th. Finally, Morgan Stanley cut their price objective on shares of Datadog from $143.00 to $115.00 and set an "equal weight" rating on the stock in a research report on Wednesday, April 16th. Six investment analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Datadog has an average rating of "Moderate Buy" and an average price target of $142.52.

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.