Motley Fool Asset Management LLC Has $3.78 Million Stock Holdings in Datadog, Inc. (NASDAQ:DDOG)

Key Points

• Motley Fool Asset Management LLC increased its stake in Datadog, Inc. by 149.0% during the first quarter, now owning 38,132 shares valued at approximately $3.78 million.
• Analysts have updated their price targets for Datadog, with Jefferies Financial Group and Canaccord Genuity both raising their targets to $160.00 and Bank of America setting a target of $175.00, all maintaining a "buy" rating.
• Datadog reported a 28.1% year-over-year revenue increase, with a quarterly revenue of $826.76 million and EPS of $0.46, surpassing analyst expectations.

Motley Fool Asset Management LLC increased its position in shares of Datadog, Inc. (NASDAQ:DDOG - Free Report) by 149.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 38,132 shares of the company's stock after purchasing an additional 22,818 shares during the period. Motley Fool Asset Management LLC's holdings in Datadog were worth $3,783,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. OVERSEA CHINESE BANKING Corp Ltd increased its holdings in shares of Datadog by 887.0% in the first quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 25,199 shares of the company's stock valued at $25,000 after buying an additional 22,646 shares in the last quarter. Cornerstone Planning Group LLC increased its holdings in shares of Datadog by 96.9% in the first quarter. Cornerstone Planning Group LLC now owns 313 shares of the company's stock valued at $30,000 after buying an additional 154 shares in the last quarter. Costello Asset Management INC bought a new position in shares of Datadog in the first quarter valued at $30,000. Putney Financial Group LLC bought a new position in shares of Datadog in the fourth quarter valued at $32,000. Finally, Elequin Capital LP bought a new position in shares of Datadog in the fourth quarter valued at $34,000. Institutional investors own 78.29% of the company's stock.

Insider Activity at Datadog

In other news, CFO David M. Obstler sold 35,016 shares of the company's stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $117.40, for a total transaction of $4,110,878.40. Following the completion of the transaction, the chief financial officer owned 399,270 shares of the company's stock, valued at approximately $46,874,298. This represents a 8.06% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Olivier Pomel sold 107,365 shares of the company's stock in a transaction dated 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 of the company's stock, valued at $66,784,102.65. This represents a 16.36% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 846,051 shares of company stock worth $107,936,283 over the last ninety days. Corporate insiders own 8.70% of the company's stock.

Datadog Stock Performance

Datadog stock traded down $0.25 on Wednesday, reaching $128.71. 4,752,345 shares of the stock were exchanged, compared to its average volume of 5,869,757. The stock has a market cap of $44.45 billion, a PE ratio of 367.75, a PEG ratio of 61.72 and a beta of 1.02. The company has a current ratio of 3.43, a quick ratio of 2.74 and a debt-to-equity ratio of 0.31. Datadog, Inc. has a twelve month low of $81.63 and a twelve month high of $170.08. The firm has a fifty day moving average price of $135.79 and a two-hundred day moving average price of $120.65.

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

Analyst Upgrades and Downgrades

DDOG has been the topic of several research reports. Rosenblatt Securities dropped their price target on Datadog from $160.00 to $150.00 and set a "buy" rating on the stock in a report on Monday, May 5th. Bank of America lifted their price objective on shares of Datadog from $150.00 to $175.00 and gave the stock a "buy" rating in a research report on Monday, July 7th. Jefferies Financial Group lifted their price objective on shares of Datadog from $135.00 to $160.00 and gave the stock a "buy" rating in a research report on Monday, August 4th. UBS Group set a $165.00 price objective on shares of Datadog and gave the stock a "buy" rating in a research report on Thursday, August 7th. Finally, Macquarie lowered their price objective on shares of Datadog from $175.00 to $140.00 and set an "outperform" rating on the stock in a research report on Wednesday, May 7th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and twenty-four have given a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price 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.