North Star Asset Management Inc. Buys 2,876 Shares of Datadog, Inc. (NASDAQ:DDOG)

Key Points

• North Star Asset Management Inc. increased its stake in Datadog by 4.0%, bringing its total holdings to 73,938 shares valued at approximately $7.3 million.
• Datadog reported $0.46 EPS for its latest quarter, exceeding analysts' expectations of $0.42, with revenues of $761.55 million.
• Insider activity shows significant stock sales, with CFO David M. Obstler selling 15,000 shares and CEO Olivier Pomel selling 32,924 shares, indicating a decrease in their ownership positions.

North Star Asset Management Inc. lifted its stake in Datadog, Inc. (NASDAQ:DDOG - Free Report) by 4.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 73,938 shares of the company's stock after buying an additional 2,876 shares during the period. North Star Asset Management Inc.'s holdings in Datadog were worth $7,335,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Putney Financial Group LLC bought a new stake in shares of Datadog in the fourth quarter valued at about $32,000. Elequin Capital LP bought a new stake in shares of Datadog in the fourth quarter valued at about $34,000. Coppell Advisory Solutions LLC lifted its stake in shares of Datadog by 178.8% in the fourth quarter. Coppell Advisory Solutions LLC now owns 276 shares of the company's stock valued at $40,000 after buying an additional 177 shares during the period. Cornerstone Planning Group LLC lifted its stake in Datadog by 96.9% during the first quarter. Cornerstone Planning Group LLC now owns 313 shares of the company's stock worth $30,000 after purchasing an additional 154 shares during the period. Finally, Itau Unibanco Holding S.A. lifted its stake in Datadog by 417.7% during the fourth quarter. Itau Unibanco Holding S.A. now owns 321 shares of the company's stock worth $46,000 after purchasing an additional 259 shares during the period. Institutional investors own 78.29% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. Mizuho raised their price target on shares of Datadog from $125.00 to $145.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 16th. Stifel Nicolaus raised their price target on shares of Datadog from $120.00 to $135.00 and gave the stock a "hold" rating in a research note on Thursday, June 26th. Needham & Company LLC set a $140.00 price target on shares of Datadog and gave the stock a "buy" rating in a research note on Thursday, June 12th. UBS Group raised their price target on shares of Datadog from $140.00 to $165.00 and gave the stock a "buy" rating in a research note on Wednesday, July 16th. Finally, Jefferies Financial Group restated a "buy" rating on shares of Datadog in a research note on Tuesday, May 6th. One investment 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 company. According to MarketBeat, Datadog has an average rating of "Moderate Buy" and a consensus target price of $146.79.

Insiders Place Their Bets

In related news, CFO David M. Obstler sold 15,000 shares of the business's stock in a transaction on Thursday, July 3rd. The shares were sold at an average price of $147.43, for a total value of $2,211,450.00. Following the sale, the chief financial officer directly owned 399,270 shares of the company's stock, valued at approximately $58,864,376.10. The trade was a 3.62% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Olivier Pomel sold 11,195 shares of the business's stock in a transaction on Monday, July 28th. The shares were sold at an average price of $150.82, for a total transaction of $1,688,429.90. Following the completion of the sale, the chief executive officer directly owned 548,715 shares in the company, valued at $82,757,196.30. This represents a 2.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 968,861 shares of company stock worth $119,264,653 in the last ninety days. 8.70% of the stock is owned by insiders.

Datadog Trading Down 6.0%

Shares of NASDAQ DDOG traded down $8.90 during midday trading on Thursday, reaching $139.98. 10,855,964 shares of the stock were exchanged, compared to its average volume of 10,512,353. The business has a 50-day simple moving average of $132.88 and a two-hundred day simple moving average of $121.03. The company has a market capitalization of $48.34 billion, a price-to-earnings 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 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 quarterly earnings results on Tuesday, May 6th. The company reported $0.46 earnings per share for the quarter, topping analysts' consensus estimates of $0.42 by $0.04. The company had revenue of $761.55 million for the quarter, compared to analysts' expectations of $741.73 million. Datadog had a net margin of 5.85% and a return on equity of 6.39%. The business's quarterly revenue was up 24.6% compared to the same quarter last year. During the same period last year, the firm posted $0.44 earnings per share. As a group, equities research analysts expect that Datadog, Inc. will post 0.34 EPS for the current year.

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.