Mizuho Markets Americas LLC Purchases New Shares in Datadog, Inc. (NASDAQ:DDOG)

Key Points

• Mizuho Markets Americas LLC has made a new investment in Datadog, purchasing 156,500 shares valued at approximately $15.53 million in the first quarter.
• Multiple institutional investors, including Benjamin Edwards Inc. and Townsquare Capital LLC, have significantly increased their holdings in Datadog, suggesting strong interest in the company.
• Analysts have set a new consensus price target for Datadog at $151.72, with a majority rating it as a "Moderate Buy".

Mizuho Markets Americas LLC purchased a new position in shares of Datadog, Inc. (NASDAQ:DDOG - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 156,500 shares of the company's stock, valued at approximately $15,526,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of DDOG. OVERSEA CHINESE BANKING Corp Ltd increased its holdings 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 acquiring an additional 22,646 shares during the last quarter. Cornerstone Planning Group LLC increased its holdings in shares of Datadog by 96.9% in the 1st quarter. Cornerstone Planning Group LLC now owns 313 shares of the company's stock valued at $30,000 after acquiring an additional 154 shares during the last quarter. Costello Asset Management INC bought a new stake in shares of Datadog in the 1st quarter valued at approximately $30,000. Putney Financial Group LLC bought a new stake in shares of Datadog in the 4th quarter valued at approximately $32,000. Finally, Elequin Capital LP bought a new position in Datadog during the 4th quarter worth $34,000. 78.29% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Wolfe Research upgraded Datadog from a "peer perform" rating to an "outperform" rating and set a $150.00 price objective for the company in a research note on Thursday, June 12th. BTIG Research set a $136.00 price target on Datadog and gave the company a "buy" rating in a report on Tuesday, May 6th. Monness Crespi & Hardt raised their price target on Datadog from $160.00 to $185.00 and gave the company a "buy" rating in a report on Thursday. Jefferies Financial Group raised their price target on Datadog from $135.00 to $160.00 and gave the company a "buy" rating in a report on Monday, August 4th. Finally, Bank of America raised their price target on Datadog from $150.00 to $175.00 and gave the company a "buy" rating in a report on Monday, July 7th. One 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. Based on data from MarketBeat, Datadog presently has a consensus rating of "Moderate Buy" and a consensus target price of $151.72.

Datadog Trading Down 1.6%

Shares of DDOG traded down $2.11 during mid-day trading on Monday, reaching $128.81. The company had a trading volume of 8,532,453 shares, compared to its average volume of 5,672,621. The stock has a market cap of $44.48 billion, a price-to-earnings ratio of 368.02, a price-to-earnings-growth ratio of 69.33 and a beta of 1.02. The firm has a fifty day simple moving average of $135.40 and a 200-day simple moving average of $120.54. Datadog, Inc. has a fifty-two week low of $81.63 and a fifty-two week high of $170.08. The company has a current ratio of 3.43, a quick ratio of 2.74 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 the consensus estimate of $0.41 by $0.05. The business had revenue of $826.76 million during the quarter, compared to the consensus estimate of $791.72 million. Datadog had a net margin of 4.13% and a return on equity of 5.04%. The business's quarterly revenue was up 28.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.43 earnings per share. On average, sell-side analysts anticipate that Datadog, Inc. will post 0.34 EPS for the current fiscal year.

Insider Activity

In related news, CFO David M. Obstler sold 35,016 shares of the stock in a transaction dated 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 completion of the transaction, the chief financial officer owned 399,270 shares in the company, valued at $46,874,298. This represents a 8.06% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Olivier Pomel sold 107,365 shares of the company's stock in a transaction dated Monday, June 9th. The shares were sold at an average price of $121.71, for a total transaction of $13,067,394.15. Following the completion of the sale, the chief executive officer directly owned 548,715 shares of the company's stock, valued at $66,784,102.65. The trade was 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 worth $106,308,669 over the last ninety days. Insiders own 8.70% of the company's stock.

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.