Datadog, Inc. (NASDAQ:DDOG) Shares Acquired by Mediolanum International Funds Ltd

Key Points

• Mediolanum International Funds Ltd significantly increased its stake in Datadog, Inc. by 78.2% during the first quarter, owning approximately 188,697 shares worth around $19 million.
• Institutional investors hold a substantial 78.29% of Datadog's stock, indicating strong institutional interest in the company.
• Datadog’s quarterly earnings exceeded expectations, posting $0.46 EPS and $761.55 million in revenue, reflecting a year-over-year revenue growth of 24.6%.

Mediolanum International Funds Ltd increased its position in Datadog, Inc. (NASDAQ:DDOG - Free Report) by 78.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 188,697 shares of the company's stock after purchasing an additional 82,817 shares during the quarter. Mediolanum International Funds Ltd owned approximately 0.06% of Datadog worth $19,077,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of DDOG. Baillie Gifford & Co. increased its stake in shares of Datadog by 12.6% in the first quarter. Baillie Gifford & Co. now owns 12,274,655 shares of the company's stock valued at $1,217,769,000 after buying an additional 1,369,522 shares in the last quarter. Groupama Asset Managment increased its position in Datadog by 407.6% in the fourth quarter. Groupama Asset Managment now owns 6,600,000 shares of the company's stock worth $943,074,000 after purchasing an additional 5,299,688 shares during the period. Geode Capital Management LLC increased its position in Datadog by 9.6% in the fourth quarter. Geode Capital Management LLC now owns 5,684,612 shares of the company's stock worth $811,076,000 after purchasing an additional 499,055 shares during the period. Brown Advisory Inc. increased its position in Datadog by 76.5% in the first quarter. Brown Advisory Inc. now owns 4,853,012 shares of the company's stock worth $481,467,000 after purchasing an additional 2,103,838 shares during the period. Finally, Massachusetts Financial Services Co. MA boosted its holdings in Datadog by 4.0% during the first quarter. Massachusetts Financial Services Co. MA now owns 4,656,379 shares of the company's stock worth $461,959,000 after buying an additional 180,100 shares during the last quarter. 78.29% of the stock is owned by institutional investors.

Datadog Stock Performance

NASDAQ DDOG traded up $0.93 on Monday, hitting $150.77. 2,647,060 shares of the company's stock traded hands, compared to its average volume of 5,847,178. The firm has a market capitalization of $52.07 billion, a PE ratio of 327.77, a P/E/G ratio of 82.40 and a beta of 1.03. Datadog, Inc. has a 1-year low of $81.63 and a 1-year high of $170.08. The firm's 50-day moving average price is $130.32 and its two-hundred day moving average price is $120.54. The company has a current ratio of 2.74, a quick ratio of 2.74 and a debt-to-equity ratio of 0.34.

Datadog (NASDAQ:DDOG - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The company reported $0.46 earnings per share for the quarter, topping 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 firm had revenue of $761.55 million during the quarter, compared to the consensus estimate of $741.73 million. During the same quarter in the prior year, the firm earned $0.44 EPS. The company's revenue for the quarter was up 24.6% on a year-over-year basis. As a group, analysts expect that Datadog, Inc. will post 0.34 EPS for the current year.

Insiders Place Their Bets

In related news, CRO Sean Michael Walters sold 9,469 shares of the stock in a transaction that occurred on 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 transaction, the executive owned 212,324 shares of the company's stock, valued at approximately $31,848,600. This trade represents a 4.27% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Olivier Pomel sold 32,924 shares of the firm's stock in a transaction that occurred on Tuesday, July 8th. The shares were sold at an average price of $146.05, for a total transaction of $4,808,550.20. Following the completion of the transaction, the chief executive officer directly owned 548,715 shares of the company's stock, valued at $80,139,825.75. This represents a 5.66% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 957,666 shares of company stock worth $117,576,223. 8.70% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on DDOG. Wolfe Research upgraded shares of Datadog from a "peer perform" rating to an "outperform" rating and set a $150.00 price objective on the stock in a report on Thursday, June 12th. Cantor Fitzgerald boosted their target price on Datadog from $134.00 to $171.00 and gave the company an "overweight" rating in a research note on Wednesday, July 16th. Needham & Company LLC set a $140.00 target price on Datadog and gave the company a "buy" rating in a research note on Thursday, June 12th. Jefferies Financial Group restated a "buy" rating on shares of Datadog in a research note on Tuesday, May 6th. Finally, Royal Bank Of Canada restated an "outperform" rating and issued a $119.00 target price on shares of Datadog in a research note on Wednesday, May 7th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and twenty-four have assigned a buy rating to the company. According to data from MarketBeat.com, Datadog has a consensus rating of "Moderate Buy" and an average target price of $146.79.

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.