4,746 Shares in Datadog, Inc. (NASDAQ:DDOG) Bought by Norden Group LLC

Key Points

• Norden Group LLC has acquired a new stake in Datadog, Inc., purchasing 4,746 shares valued at approximately $471,000.
• Institutional investors hold 78.29% of Datadog's stock, with notable increases in holdings from firms such as Baillie Gifford & Co. and Groupama Asset Management.
• Datadog recently reported a positive earnings quarter with a 24.6% year-over-year revenue increase and earnings per share of $0.46, surpassing estimates.

Norden Group LLC acquired a new stake in Datadog, Inc. (NASDAQ:DDOG - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 4,746 shares of the company's stock, valued at approximately $471,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. OVERSEA CHINESE BANKING Corp Ltd increased its stake in shares of 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 buying an additional 22,646 shares in the last quarter. Cornerstone Planning Group LLC increased its stake in shares of 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 buying an additional 154 shares in the last quarter. Putney Financial Group LLC acquired a new stake in shares of Datadog in the fourth quarter valued at $32,000. Elequin Capital LP acquired a new stake in shares of Datadog in the fourth quarter valued at $34,000. Finally, Opal Wealth Advisors LLC acquired a new stake in shares of Datadog in the first quarter valued at $37,000. 78.29% of the stock is owned by institutional investors.

Datadog Stock Down 6.0%

NASDAQ DDOG traded down $8.90 during trading on Thursday, hitting $139.98. The stock had a trading volume of 10,855,964 shares, compared to its average volume of 10,512,353. The company has a market capitalization of $48.34 billion, a PE ratio of 304.31, a P/E/G ratio of 81.87 and a beta of 1.03. Datadog, Inc. has a 12 month low of $81.63 and a 12 month high of $170.08. The company's 50-day moving average price is $132.88 and its two-hundred day moving average price is $121.03. The company has a debt-to-equity ratio of 0.34, a quick ratio of 2.74 and a current ratio of 2.74.

Datadog (NASDAQ:DDOG - Get Free Report) last posted 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. The firm had revenue of $761.55 million for the quarter, compared to analyst estimates of $741.73 million. Datadog had a return on equity of 6.39% and a net margin of 5.85%. The business's quarterly revenue was up 24.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.44 EPS. As a group, sell-side analysts forecast that Datadog, Inc. will post 0.34 EPS for the current year.

Insider Buying and Selling at Datadog

In other Datadog news, CFO David M. Obstler sold 35,016 shares of the company's stock in a transaction on 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 transaction, the chief financial officer directly owned 399,270 shares of the company's stock, 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 through this hyperlink. Also, CEO Olivier Pomel sold 107,365 shares of the company's stock in a transaction on Monday, June 9th. The shares were sold at an average price of $121.71, for a total value of $13,067,394.15. Following the completion of the transaction, the chief executive officer directly owned 548,715 shares in the company, valued at approximately $66,784,102.65. This represents a 16.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 968,861 shares of company stock worth $119,264,653 in the last three months. 8.70% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on DDOG. Morgan Stanley raised their target price on Datadog from $115.00 to $165.00 and gave the company an "equal weight" rating in a research note on Thursday, July 10th. Rosenblatt Securities lowered their price objective on Datadog from $160.00 to $150.00 and set a "buy" rating for the company in a research report on Monday, May 5th. Barclays lifted their price objective on Datadog from $128.00 to $170.00 and gave the stock an "overweight" rating in a research report on Monday, July 21st. Scotiabank set a $130.00 price objective on Datadog and gave the stock an "outperform" rating in a research report on Wednesday, May 7th. Finally, Bank of America raised their target price on Datadog from $150.00 to $175.00 and gave the stock 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 issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $146.79.

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.