Datadog, Inc. (NASDAQ:DDOG) Shares Bought by Riverpark Capital Management LLC

Key Points

• Riverpark Capital Management LLC increased its stake in Datadog by 30.3%, now holding 8,442 shares valued at approximately $838,000.
• Notable insider transactions include CTO Alexis Le-Quoc selling 127,105 shares for about $15.25 million, reducing their stake by 21.92%.
• Datadog's recent quarterly earnings beat expectations with a reported EPS of $0.46, up from $0.43 the previous year, and revenue increasing by 28.1% year-over-year.

Riverpark Capital Management LLC raised its stake in shares of Datadog, Inc. (NASDAQ:DDOG - Free Report) by 30.3% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 8,442 shares of the company's stock after purchasing an additional 1,965 shares during the period. Riverpark Capital Management LLC's holdings in Datadog were worth $838,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in DDOG. OVERSEA CHINESE BANKING Corp Ltd lifted its holdings in shares of Datadog by 887.0% in the 1st quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 25,199 shares of the company's stock valued at $25,000 after acquiring an additional 22,646 shares during the last quarter. Cornerstone Planning Group LLC lifted its holdings in shares of Datadog by 96.9% in the 1st quarter. Cornerstone Planning Group LLC now owns 313 shares of the company's stock valued at $30,000 after acquiring an additional 154 shares during the last quarter. Costello Asset Management INC bought a new position in shares of Datadog in the 1st quarter valued at about $30,000. Putney Financial Group LLC bought a new position in shares of Datadog in the 4th quarter valued at about $32,000. Finally, Elequin Capital LP bought a new position in shares of Datadog in the 4th quarter valued at about $34,000. Institutional investors own 78.29% of the company's stock.

Analyst Ratings Changes

A number of research analysts recently commented on the stock. UBS Group set a $165.00 price target on shares of Datadog and gave the company a "buy" rating in a report on Thursday. Morgan Stanley increased their price target on shares of Datadog from $115.00 to $165.00 and gave the company an "equal weight" rating in a report on Thursday, July 10th. Canaccord Genuity Group increased their price target on shares of Datadog from $145.00 to $160.00 and gave the company a "buy" rating in a report on Friday. Wedbush reaffirmed an "outperform" rating and issued a $140.00 price target on shares of Datadog in a report on Wednesday, June 11th. Finally, Stifel Nicolaus increased their price target on shares of Datadog from $120.00 to $135.00 and gave the company a "hold" rating in a report on Thursday, June 26th. 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. According to MarketBeat.com, Datadog presently has an average rating of "Moderate Buy" and a consensus price target of $151.72.

Insider Activity

In other news, CEO Olivier Pomel sold 107,365 shares of Datadog 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 completion of the sale, the chief executive officer directly owned 548,715 shares in the company, valued at approximately $66,784,102.65. The trade was a 16.36% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO David M. Obstler sold 35,016 shares of Datadog stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $117.40, for a total transaction of $4,110,878.40. Following the sale, the chief financial officer owned 399,270 shares of the company's stock, valued at $46,874,298. The trade was a 8.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 835,918 shares of company stock valued at $106,308,669 over the last three months. Company insiders own 8.70% of the company's stock.

Datadog Stock Down 4.0%

DDOG stock traded down $5.47 during trading on Friday, hitting $130.91. 10,857,862 shares of the company's stock traded hands, compared to its average volume of 5,672,621. The firm has a market capitalization of $45.21 billion, a P/E ratio of 374.04, a PEG ratio of 69.33 and a beta of 1.02. The business has a fifty day simple moving average of $135.18 and a two-hundred day simple moving average of $120.62. The company has a quick ratio of 2.74, a current ratio of 3.43 and a debt-to-equity ratio of 0.31. Datadog, Inc. has a 1 year low of $81.63 and a 1 year high of $170.08.

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

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.