IQ EQ FUND MANAGEMENT IRELAND Ltd Increases Stock Holdings in Datadog, Inc. (NASDAQ:DDOG)

Key Points

• IQ EQ FUND MANAGEMENT IRELAND Ltd increased its stake in Datadog, Inc. by 78.4% in Q1, owning 8,422 shares valued at approximately $836,000.
• Several institutional investors also raised their positions in Datadog, with ING Groep NV and Allianz SE making significant investments during the first quarter.
• Analysts remain bullish on Datadog, with numerous price target increases, notably by Barclays and Bank of America, reflecting a consensus rating of "Moderate Buy" with an average price target of $147.66.

IQ EQ FUND MANAGEMENT IRELAND Ltd raised its stake in shares of Datadog, Inc. (NASDAQ:DDOG - Free Report) by 78.4% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 8,422 shares of the company's stock after purchasing an additional 3,702 shares during the quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd's holdings in Datadog were worth $836,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the stock. ING Groep NV purchased a new position in shares of Datadog during the first quarter valued at about $1,053,000. Allianz SE boosted its position in Datadog by 143.5% during the 1st quarter. Allianz SE now owns 3,020 shares of the company's stock valued at $300,000 after acquiring an additional 1,780 shares in the last quarter. Generali Investments Towarzystwo Funduszy Inwestycyjnych grew its holdings in shares of Datadog by 58.1% during the 1st quarter. Generali Investments Towarzystwo Funduszy Inwestycyjnych now owns 34,000 shares of the company's stock worth $3,373,000 after acquiring an additional 12,500 shares during the period. Manchester Capital Management LLC raised its position in shares of Datadog by 19.5% in the 1st quarter. Manchester Capital Management LLC now owns 920 shares of the company's stock worth $91,000 after acquiring an additional 150 shares in the last quarter. Finally, OVERSEA CHINESE BANKING Corp Ltd lifted its stake 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 purchasing an additional 22,646 shares during the period. 78.29% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Barclays upped their price target on Datadog from $128.00 to $170.00 and gave the stock an "overweight" rating in a research note on Monday, July 21st. Jefferies Financial Group upped their target price on shares of Datadog from $135.00 to $160.00 and gave the stock a "buy" rating in a research report on Monday. Bank of America increased their price target on shares of Datadog from $150.00 to $175.00 and gave the stock a "buy" rating in a research note on Monday, July 7th. Scotiabank set a $130.00 price objective on shares of Datadog and gave the stock an "outperform" rating in a research note on Wednesday, May 7th. Finally, Morgan Stanley upped their price objective on shares of Datadog from $115.00 to $165.00 and gave the stock an "equal weight" rating in a report on Thursday, July 10th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and twenty-four have issued a buy rating to the company. According to MarketBeat, Datadog presently has a consensus rating of "Moderate Buy" and an average price target of $147.66.

Insider Buying and Selling at Datadog

In other Datadog news, Director Matthew Jacobson sold 47,306 shares of the business's stock in a transaction dated Wednesday, May 7th. The stock was sold at an average price of $107.40, for a total transaction of $5,080,664.40. Following the completion of the sale, the director owned 25,468 shares of the company's stock, valued at approximately $2,735,263.20. The trade was a 65.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO David M. Obstler sold 35,016 shares of the company's stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $117.40, for a total value of $4,110,878.40. Following the completion of the sale, the chief financial officer owned 399,270 shares of the company's stock, valued at approximately $46,874,298. The trade was a 8.06% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 968,861 shares of company stock worth $119,264,653. Insiders own 8.70% of the company's stock.

Datadog Trading Up 2.6%

Datadog stock opened at $139.13 on Tuesday. Datadog, Inc. has a 52-week low of $81.63 and a 52-week high of $170.08. The company has a market cap of $48.05 billion, a P/E ratio of 302.46, a P/E/G ratio of 74.44 and a beta of 1.02. The company has a quick ratio of 2.74, a current ratio of 2.74 and a debt-to-equity ratio of 0.34. The business has a 50-day simple moving average of $133.79 and a two-hundred day simple moving average of $120.76.

Datadog (NASDAQ:DDOG - Get Free Report) last announced its earnings results on Tuesday, May 6th. The company reported $0.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.42 by $0.04. Datadog had a net margin of 5.85% and a return on equity of 6.39%. The company had revenue of $761.55 million during the quarter, compared to analyst estimates of $741.73 million. During the same period in the previous year, the business posted $0.44 earnings per share. The firm's quarterly revenue was up 24.6% compared to the same quarter last year. Analysts predict 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.

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