Mitsubishi UFJ Asset Management Co. Ltd. Purchases 33,582 Shares of Datadog, Inc. (NASDAQ:DDOG)

Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in shares of Datadog, Inc. (NASDAQ:DDOG - Free Report) by 14.9% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 258,317 shares of the company's stock after acquiring an additional 33,582 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned about 0.08% of Datadog worth $25,628,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also bought and sold shares of DDOG. Wealth Enhancement Advisory Services LLC grew its position in shares of Datadog by 32.0% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 15,506 shares of the company's stock valued at $2,216,000 after purchasing an additional 3,760 shares during the last quarter. LBP AM SA grew its position in Datadog by 40.2% during the first quarter. LBP AM SA now owns 419,805 shares of the company's stock worth $41,649,000 after buying an additional 120,343 shares in the last quarter. Envestnet Asset Management Inc. grew its position in Datadog by 24.7% during the first quarter. Envestnet Asset Management Inc. now owns 787,344 shares of the company's stock worth $78,112,000 after buying an additional 156,152 shares in the last quarter. Total Wealth Planning & Management Inc. acquired a new stake in Datadog during the fourth quarter worth approximately $314,000. Finally, Soros Fund Management LLC grew its position in Datadog by 14.3% during the fourth quarter. Soros Fund Management LLC now owns 192,190 shares of the company's stock worth $27,462,000 after buying an additional 24,100 shares in the last quarter. Institutional investors own 78.29% of the company's stock.

Insider Buying and Selling

In related news, CRO Sean Michael Walters sold 9,469 shares of Datadog stock in a transaction on Thursday, July 3rd. The stock was sold at an average price of $150.00, for a total transaction of $1,420,350.00. Following the transaction, the executive directly owned 212,324 shares in the company, valued at approximately $31,848,600. The trade was a 4.27% 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 32,923 shares of Datadog stock in a transaction on Monday, August 11th. The shares were sold at an average price of $130.38, for a total value of $4,292,500.74. Following the transaction, the chief executive officer owned 548,715 shares in the company, valued at $71,541,461.70. This trade represents a 5.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 846,051 shares of company stock valued at $107,936,283 in the last ninety days. Corporate insiders own 8.70% of the company's stock.

Datadog Stock Down 3.2%

Shares of NASDAQ DDOG traded down $4.17 on Thursday, reaching $124.55. 4,865,063 shares of the company's stock traded hands, compared to its average volume of 5,950,784. Datadog, Inc. has a 12 month low of $81.63 and a 12 month high of $170.08. The business's 50 day simple moving average is $135.79 and its two-hundred day simple moving average is $120.65. The company has a market cap of $43.01 billion, a price-to-earnings ratio of 355.85, a price-to-earnings-growth ratio of 61.72 and a beta of 1.02. The company has a quick ratio of 2.74, a current ratio of 3.43 and a debt-to-equity ratio of 0.31.

Datadog (NASDAQ:DDOG - Get Free Report) last announced its earnings results on Thursday, August 7th. The company reported $0.46 earnings per share for the quarter, beating analysts' consensus estimates of $0.41 by $0.05. Datadog had a net margin of 4.13% and a return on equity of 5.04%. The business had revenue of $826.76 million during the quarter, compared to the consensus estimate of $791.72 million. During the same quarter last year, the firm earned $0.43 earnings per share. The business's revenue for the quarter was up 28.1% on a year-over-year basis. As a group, equities research analysts forecast that Datadog, Inc. will post 0.34 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on DDOG shares. Scotiabank reaffirmed an "outperform" rating on shares of Datadog in a report on Friday, August 8th. Stifel Nicolaus raised their target price on Datadog from $120.00 to $135.00 and gave the company a "hold" rating in a report on Thursday, June 26th. Barclays set a $170.00 price target on Datadog and gave the company an "overweight" rating in a research note on Thursday, August 7th. Wolfe Research upgraded Datadog from a "peer perform" rating to an "outperform" rating and set a $150.00 price target for the company in a research note on Thursday, June 12th. Finally, Mizuho increased their price target on Datadog from $145.00 to $155.00 and gave the company an "outperform" rating in a research note on Friday, August 8th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and twenty-four have given a buy rating to the company's stock. According to MarketBeat.com, Datadog has an average rating of "Moderate Buy" and an average target price of $152.93.

About Datadog

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.