Datadog, Inc. (NASDAQ:DDOG) Shares Sold by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. cut its holdings in shares of Datadog, Inc. (NASDAQ:DDOG - Free Report) by 6.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 161,092 shares of the company's stock after selling 10,842 shares during the period. Mirae Asset Global Investments Co. Ltd.'s holdings in Datadog were worth $16,286,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in DDOG. Putney Financial Group LLC acquired a new position in Datadog during the 4th quarter worth $32,000. Elequin Capital LP acquired a new position in shares of Datadog during the fourth quarter valued at $34,000. Opal Wealth Advisors LLC bought a new stake in shares of Datadog during the first quarter valued at about $37,000. Center for Financial Planning Inc. lifted its holdings in Datadog by 1,189.7% in the first quarter. Center for Financial Planning Inc. now owns 374 shares of the company's stock worth $37,000 after purchasing an additional 345 shares during the period. Finally, MassMutual Private Wealth & Trust FSB lifted its holdings in Datadog by 74.0% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 381 shares of the company's stock worth $38,000 after purchasing an additional 162 shares during the period. 78.29% of the stock is owned by institutional investors.

Datadog Trading Up 0.7%

NASDAQ:DDOG opened at $132.08 on Monday. The stock has a market cap of $45.61 billion, a PE ratio of 287.14, a price-to-earnings-growth ratio of 73.07 and a beta of 1.01. Datadog, Inc. has a fifty-two week low of $81.63 and a fifty-two week high of $170.08. The company has a debt-to-equity ratio of 0.34, a current ratio of 2.74 and a quick ratio of 2.74. The stock's 50-day moving average is $115.26 and its two-hundred day moving average is $121.06.

Datadog (NASDAQ:DDOG - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The company reported $0.46 EPS for the quarter, beating analysts' consensus estimates of $0.42 by $0.04. The firm had revenue of $761.55 million for 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 firm's revenue was up 24.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.44 earnings per share. As a group, equities research analysts forecast that Datadog, Inc. will post 0.34 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Olivier Pomel sold 100,754 shares of the business's stock in a transaction that occurred on Wednesday, June 25th. The stock was sold at an average price of $131.88, for a total value of $13,287,437.52. Following the completion of the sale, the chief executive officer now owns 548,715 shares of the company's stock, valued at approximately $72,364,534.20. The trade was a 15.51% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Matthew Jacobson sold 47,306 shares of the firm's 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 now directly owns 25,468 shares in the company, valued at approximately $2,735,263.20. The trade was a 65.00% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 901,778 shares of company stock worth $103,817,113 in the last ninety days. Corporate insiders own 8.70% of the company's stock.

Wall Street Analysts Forecast Growth

DDOG has been the topic of a number of recent analyst reports. Jefferies Financial Group restated a "buy" rating on shares of Datadog in a research report on Tuesday, May 6th. Royal Bank Of Canada reiterated an "outperform" rating and set a $119.00 price objective on shares of Datadog in a research note on Wednesday, May 7th. Wedbush restated an "outperform" rating and issued a $140.00 target price on shares of Datadog in a research report on Wednesday, June 11th. Wolfe Research raised Datadog from a "peer perform" rating to an "outperform" rating and set a $150.00 price target for the company in a research note on Thursday, June 12th. Finally, Bank of America lifted their price target on Datadog from $138.00 to $150.00 and gave the company a "buy" rating in a research report on Wednesday, June 18th. Six analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $143.03.

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.

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