Perpetual Ltd Boosts Holdings in Datadog, Inc. (NASDAQ:DDOG)

Perpetual Ltd grew its position in Datadog, Inc. (NASDAQ:DDOG - Free Report) by 120.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,481 shares of the company's stock after purchasing an additional 3,000 shares during the quarter. Perpetual Ltd's holdings in Datadog were worth $544,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Putney Financial Group LLC purchased a new position in Datadog during the 4th quarter worth $32,000. Elequin Capital LP acquired a new stake in Datadog during the 4th quarter worth about $34,000. Opal Wealth Advisors LLC purchased a new stake in Datadog during the 1st quarter valued at about $37,000. Center for Financial Planning Inc. increased its holdings in shares of Datadog by 1,189.7% in the first quarter. Center for Financial Planning Inc. now owns 374 shares of the company's stock valued at $37,000 after purchasing an additional 345 shares during the period. Finally, MassMutual Private Wealth & Trust FSB raised its stake in shares of Datadog by 74.0% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 381 shares of the company's stock worth $38,000 after purchasing an additional 162 shares during the last quarter. 78.29% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Datadog

In other news, CEO Olivier Pomel sold 107,365 shares of the firm's stock in a transaction dated Monday, April 7th. The shares were sold at an average price of $87.33, for a total value of $9,376,185.45. Following the transaction, the chief executive officer now directly owns 563,598 shares of the company's stock, valued at approximately $49,219,013.34. This trade represents a 16.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, General Counsel Kerry Acocella sold 5,099 shares of the company's stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $116.84, for a total transaction of $595,767.16. Following the sale, the general counsel now directly owns 115,490 shares of the company's stock, valued at approximately $13,493,851.60. This represents a 4.23% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 901,778 shares of company stock worth $103,817,113. Corporate insiders own 8.70% of the company's stock.

Datadog Stock Up 0.7%

Shares of NASDAQ DDOG opened at $132.08 on Friday. The firm has a market cap of $45.61 billion, a price-to-earnings ratio of 287.14, a price-to-earnings-growth ratio of 73.07 and a beta of 1.01. The company's 50-day simple moving average is $115.26 and its 200-day simple moving average is $121.31. The company has a quick ratio of 2.74, a current ratio of 2.74 and a debt-to-equity ratio of 0.34. Datadog, Inc. has a 52-week low of $81.63 and a 52-week high of $170.08.

Datadog (NASDAQ:DDOG - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The company reported $0.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.42 by $0.04. Datadog had a return on equity of 6.39% and a net margin of 5.85%. The company had revenue of $761.55 million for the quarter, compared to analysts' expectations of $741.73 million. During the same period in the previous year, the firm posted $0.44 EPS. Datadog's revenue was up 24.6% compared to the same quarter last year. Equities analysts predict that Datadog, Inc. will post 0.34 EPS for the current fiscal year.

Analysts Set New Price Targets

DDOG has been the topic of several research reports. Macquarie cut their price target on shares of Datadog from $175.00 to $140.00 and set an "outperform" rating on the stock in a report on Wednesday, May 7th. Jefferies Financial Group reissued a "buy" rating on shares of Datadog in a report on Tuesday, May 6th. Bank of America upped their price target on shares of Datadog from $138.00 to $150.00 and gave the company a "buy" rating in a report on Wednesday, June 18th. Scotiabank set a $130.00 price objective on Datadog and gave the company an "outperform" rating in a research note on Wednesday, May 7th. Finally, Cantor Fitzgerald reissued an "overweight" rating and issued a $134.00 price objective on shares of Datadog in a report on Wednesday, May 7th. Six analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $143.03.

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.

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