Goldman Sachs Group Inc. Increases Stock Holdings in Datadog, Inc. (NASDAQ:DDOG)

Key Points

• Goldman Sachs Group Inc. significantly increased its stake in Datadog, Inc. by 259.7%, owning approximately 2.53% of the company worth $858.99 million after acquiring over 6 million additional shares.
• Insider trading activity shows that both the CFO and CEO sold substantial amounts of shares recently, resulting in ownership reductions of 8.06% and 16.36%, respectively.
• Datadog's Q2 earnings surpassed estimates with $0.46 per share against a forecast of $0.41, and revenue increased by 28.1% year-over-year, reaching $826.76 million.

Goldman Sachs Group Inc. increased its holdings in shares of Datadog, Inc. (NASDAQ:DDOG - Free Report) by 259.7% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 8,658,340 shares of the company's stock after acquiring an additional 6,250,942 shares during the quarter. Goldman Sachs Group Inc. owned about 2.53% of Datadog worth $858,994,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of DDOG. Emerald Advisers LLC increased its holdings in Datadog by 1.1% in the 1st quarter. Emerald Advisers LLC now owns 9,300 shares of the company's stock valued at $923,000 after buying an additional 97 shares during the period. YANKCOM Partnership boosted its stake in shares of Datadog by 12.0% in the 1st quarter. YANKCOM Partnership now owns 927 shares of the company's stock valued at $92,000 after purchasing an additional 99 shares in the last quarter. SageView Advisory Group LLC boosted its stake in shares of Datadog by 4.9% in the 4th quarter. SageView Advisory Group LLC now owns 2,176 shares of the company's stock valued at $311,000 after purchasing an additional 101 shares in the last quarter. State of Wyoming boosted its stake in shares of Datadog by 3.7% in the 4th quarter. State of Wyoming now owns 3,277 shares of the company's stock valued at $468,000 after purchasing an additional 117 shares in the last quarter. Finally, Forum Financial Management LP boosted its stake in shares of Datadog by 6.1% in the 1st quarter. Forum Financial Management LP now owns 2,040 shares of the company's stock valued at $202,000 after purchasing an additional 118 shares in the last quarter. 78.29% of the stock is owned by institutional investors.

Insider Activity at Datadog

In related news, CFO David M. Obstler sold 35,016 shares of the company's stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $117.40, for a total value of $4,110,878.40. Following the transaction, the chief financial officer directly owned 399,270 shares in the company, valued at approximately $46,874,298. This represents a 8.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed 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 that occurred on Monday, June 9th. The stock was sold at an average price of $121.71, for a total transaction of $13,067,394.15. Following the completion of the transaction, the chief executive officer owned 548,715 shares in the company, valued at approximately $66,784,102.65. This trade represents a 16.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 835,918 shares of company stock valued at $106,308,669 in the last ninety days. 8.70% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

DDOG has been the topic of a number of research analyst reports. Royal Bank Of Canada restated an "outperform" rating and issued a $119.00 price target on shares of Datadog in a research note on Wednesday, May 7th. Jefferies Financial Group raised their price target on shares of Datadog from $135.00 to $160.00 and gave the company a "buy" rating in a research note on Monday, August 4th. UBS Group set a $165.00 price target on shares of Datadog and gave the company a "buy" rating in a research note on Thursday. Needham & Company LLC set a $140.00 price target on shares of Datadog and gave the company a "buy" rating in a research note on Thursday, June 12th. Finally, Wolfe Research upgraded shares of Datadog from a "peer perform" rating to an "outperform" rating and set a $150.00 target price on the stock in a research report on Thursday, June 12th. One research analyst has rated the stock with a sell rating, five have given a hold rating and twenty-four have issued a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $151.72.

Datadog Price Performance

Shares of Datadog stock traded down $5.47 on Friday, reaching $130.91. The stock had a trading volume of 10,857,862 shares, compared to its average volume of 5,445,083. Datadog, Inc. has a 1 year low of $81.63 and a 1 year high of $170.08. The company has a market cap of $45.21 billion, a P/E ratio of 374.04, a price-to-earnings-growth ratio of 75.00 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. The business's 50 day moving average is $135.18 and its two-hundred day moving average is $120.89.

Datadog (NASDAQ:DDOG - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The company reported $0.46 earnings per share for the quarter, topping the consensus estimate of $0.41 by $0.05. The company had revenue of $826.76 million for the quarter, compared to analysts' expectations of $791.72 million. Datadog had a net margin of 4.13% and a return on equity of 5.04%. Datadog's revenue for the quarter was up 28.1% compared to the same quarter last year. During the same period in the prior year, the business earned $0.43 earnings per share. As a group, research 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.