Maxi Investments CY Ltd Buys Shares of 13,152 Datadog, Inc. (NASDAQ:DDOG)

Key Points

• Maxi Investments CY Ltd acquired 13,152 shares of Datadog, Inc. for approximately $1.3 million, signaling investor confidence in the company's prospects.
• Analysts have raised price targets for Datadog, with predictions ranging from $125.00 to $170.00, reflecting a generally positive outlook on the company's stock performance.
• Insiders have sold nearly 1 million shares of Datadog stock in the last 90 days, indicating some **profit-taking** among executives despite overall institutional ownership of 78.29%.

Maxi Investments CY Ltd bought a new stake in Datadog, Inc. (NASDAQ:DDOG - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 13,152 shares of the company's stock, valued at approximately $1,305,000.

Several other large investors have also recently bought and sold shares of DDOG. OVERSEA CHINESE BANKING Corp Ltd increased its stake in Datadog by 887.0% in the first 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 in the last quarter. Cornerstone Planning Group LLC increased its stake in Datadog by 96.9% in the first quarter. Cornerstone Planning Group LLC now owns 313 shares of the company's stock valued at $30,000 after purchasing an additional 154 shares in the last quarter. Costello Asset Management INC bought a new stake in Datadog in the first quarter valued at approximately $30,000. Putney Financial Group LLC bought a new stake in Datadog in the fourth quarter valued at approximately $32,000. Finally, Elequin Capital LP bought a new stake in Datadog in the fourth quarter valued at approximately $34,000. Institutional investors own 78.29% of the company's stock.

Wall Street Analysts Forecast Growth

DDOG has been the subject of several research reports. DA Davidson increased their price objective on shares of Datadog from $115.00 to $125.00 and gave the stock a "buy" rating in a research report on Monday, May 5th. Barclays increased their price objective on shares of Datadog from $128.00 to $170.00 and gave the stock an "overweight" rating in a research report on Monday, July 21st. Morgan Stanley increased their price objective on shares of Datadog from $115.00 to $165.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 10th. Wolfe Research raised shares of Datadog from a "peer perform" rating to an "outperform" rating and set a $150.00 price objective for the company in a research report on Thursday, June 12th. Finally, Scotiabank set a $130.00 price objective on shares of Datadog and gave the stock an "outperform" rating in a research report on Wednesday, May 7th. One 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. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $147.66.

Datadog Stock Performance

Shares of DDOG opened at $139.13 on Tuesday. The firm has a 50-day moving average of $133.79 and a 200-day moving average of $120.76. Datadog, Inc. has a one year low of $81.63 and a one year high of $170.08. The company has a market cap of $48.05 billion, a PE ratio of 302.46, a price-to-earnings-growth ratio of 74.44 and a beta of 1.02. 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 (NASDAQ:DDOG - Get Free Report) last announced its earnings results on Tuesday, May 6th. The company reported $0.46 EPS for the quarter, topping the consensus estimate of $0.42 by $0.04. The business had revenue of $761.55 million during 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%. Datadog's revenue was up 24.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.44 EPS. As a group, equities analysts forecast that Datadog, Inc. will post 0.34 earnings per share for the current year.

Insider Buying and Selling at Datadog

In related news, CRO Sean Michael Walters sold 9,469 shares of Datadog stock in a transaction dated Thursday, July 3rd. The shares were sold at an average price of $150.00, for a total transaction of $1,420,350.00. Following the completion of the sale, the executive owned 212,324 shares of the company's stock, valued at approximately $31,848,600. The trade was a 4.27% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Shardul Shah sold 7,924 shares of Datadog stock in a transaction dated Tuesday, July 15th. The stock was sold at an average price of $140.80, for a total transaction of $1,115,699.20. Following the sale, the director directly owned 380,281 shares of the company's stock, valued at $53,543,564.80. The trade was a 2.04% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 968,861 shares of company stock worth $119,264,653 in the last ninety days. Insiders own 8.70% of the company's stock.

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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