Datadog, Inc. (NASDAQ:DDOG) Shares Purchased by XTX Topco Ltd

Key Points

• XTX Topco Ltd increased its stake in Datadog by an impressive 1,275.7% during Q1, now holding 25,918 shares valued at approximately $2.57 million.
• A significant portion of Datadog's stock, 78.29%, is owned by hedge funds and institutional investors, indicating strong institutional interest in the company.
• Several analysts have raised their price targets for Datadog, with Barclays increasing it to $170.00 and Morgan Stanley to $165.00, reflecting a positive outlook on the stock.

XTX Topco Ltd grew its stake in shares of Datadog, Inc. (NASDAQ:DDOG - Free Report) by 1,275.7% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 25,918 shares of the company's stock after acquiring an additional 24,034 shares during the quarter. XTX Topco Ltd's holdings in Datadog were worth $2,571,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. OVERSEA CHINESE BANKING Corp Ltd lifted its position in shares of Datadog by 887.0% during the 1st 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 lifted its position in shares of Datadog by 96.9% during the 1st 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. Putney Financial Group LLC purchased a new position in shares of Datadog during the 4th quarter valued at about $32,000. Elequin Capital LP purchased a new position in shares of Datadog during the 4th quarter valued at about $34,000. Finally, Opal Wealth Advisors LLC purchased a new position in shares of Datadog during the 1st quarter valued at about $37,000. 78.29% of the stock is currently owned by institutional investors.

Insider Transactions at Datadog

In other news, Director Amit Agarwal sold 25,000 shares of the firm's stock in a transaction dated Wednesday, May 28th. The stock was sold at an average price of $117.02, for a total value of $2,925,500.00. Following the completion of the transaction, the director directly owned 76,052 shares in the company, valued at $8,899,605.04. This trade represents a 24.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CTO Alexis Le-Quoc sold 127,105 shares of the firm's stock in a transaction dated Wednesday, May 7th. The stock was sold at an average price of $105.83, for a total value of $13,451,522.15. Following the completion of the transaction, the chief technology officer owned 466,535 shares of the company's stock, valued at approximately $49,373,399.05. The trade was a 21.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 968,861 shares of company stock valued at $119,264,653. 8.70% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Scotiabank set a $130.00 target price on Datadog and gave the company an "outperform" rating in a research note on Wednesday, May 7th. DA Davidson lifted their target price on Datadog from $115.00 to $125.00 and gave the company a "buy" rating in a research note on Monday, May 5th. Rosenblatt Securities decreased their target price on Datadog from $160.00 to $150.00 and set a "buy" rating on the stock in a research note on Monday, May 5th. Barclays lifted their target price on Datadog from $128.00 to $170.00 and gave the company an "overweight" rating in a research note on Monday, July 21st. Finally, Wells Fargo & Company decreased their target price on Datadog from $140.00 to $115.00 and set an "equal weight" rating on the stock in a research note on Wednesday, May 7th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and twenty-four have assigned a buy rating to the stock. Based on data from MarketBeat.com, Datadog has an average rating of "Moderate Buy" and an average price target of $146.79.

Datadog Stock Down 6.0%

Datadog stock traded down $8.90 during midday trading on Thursday, reaching $139.98. The company's stock had a trading volume of 10,855,964 shares, compared to its average volume of 10,512,353. The stock's 50-day simple moving average is $132.88 and its 200-day simple moving average is $121.03. 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 52-week low of $81.63 and a 52-week high of $170.08. The stock has a market capitalization of $48.34 billion, a P/E ratio of 304.31, a PEG ratio of 81.87 and a beta of 1.03.

Datadog (NASDAQ:DDOG - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The company reported $0.46 EPS for the quarter, beating analysts' consensus estimates of $0.42 by $0.04. Datadog had a return on equity of 6.39% and a net margin of 5.85%. The company had revenue of $761.55 million during the quarter, compared to analysts' expectations of $741.73 million. During the same period last year, the business posted $0.44 earnings per share. The firm's revenue was up 24.6% compared to the same quarter last year. On average, sell-side analysts expect that Datadog, Inc. will post 0.34 EPS for the current year.

Datadog 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.