Raiffeisen Bank International AG Has $16.05 Million Stock Position in Datadog, Inc. (NASDAQ:DDOG)

Key Points

• Raiffeisen Bank International AG reduced its stake in Datadog by 2.6%, selling 4,197 shares and leaving it with 158,729 shares valued at approximately $16 million.
• Several institutional investors, including Baillie Gifford & Co. and Brown Advisory Inc., significantly increased their stakes in Datadog during the first quarter, indicating growing institutional interest in the company.
• Datadog recently reported $0.46 earnings per share, exceeding analysts' expectations, with quarterly revenue up 24.6% year-over-year to $761.55 million.

Raiffeisen Bank International AG trimmed its position in Datadog, Inc. (NASDAQ:DDOG - Free Report) by 2.6% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 158,729 shares of the company's stock after selling 4,197 shares during the quarter. Raiffeisen Bank International AG's holdings in Datadog were worth $16,048,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Generali Investments Towarzystwo Funduszy Inwestycyjnych lifted its stake in shares of Datadog by 58.1% in the first quarter. Generali Investments Towarzystwo Funduszy Inwestycyjnych now owns 34,000 shares of the company's stock worth $3,373,000 after buying an additional 12,500 shares during the last quarter. Manchester Capital Management LLC lifted its stake in shares of Datadog by 19.5% in the first quarter. Manchester Capital Management LLC now owns 920 shares of the company's stock worth $91,000 after buying an additional 150 shares during the last quarter. OVERSEA CHINESE BANKING Corp Ltd increased its position in Datadog by 887.0% during the first quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 25,199 shares of the company's stock worth $25,000 after acquiring an additional 22,646 shares during the period. PNC Financial Services Group Inc. increased its position in Datadog by 1.8% during the first quarter. PNC Financial Services Group Inc. now owns 18,514 shares of the company's stock worth $1,837,000 after acquiring an additional 322 shares during the period. Finally, Strategic Advocates LLC increased its position in Datadog by 3.6% during the first quarter. Strategic Advocates LLC now owns 10,208 shares of the company's stock worth $1,013,000 after acquiring an additional 358 shares during the period. 78.29% of the stock is currently owned by institutional investors and hedge funds.

Datadog Price Performance

NASDAQ DDOG traded down $4.47 on Tuesday, hitting $134.66. 1,360,708 shares of the company were exchanged, compared to its average volume of 5,801,087. The firm has a 50 day moving average of $133.79 and a two-hundred day moving average of $120.76. The company has a market cap of $46.50 billion, a P/E ratio of 293.18, a P/E/G ratio of 74.44 and a beta of 1.02. The company has a current ratio of 2.74, a quick ratio of 2.74 and a debt-to-equity ratio of 0.34. Datadog, Inc. has a 1-year low of $81.63 and a 1-year high of $170.08.

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

Analysts Set New Price Targets

A number of equities analysts recently issued reports on DDOG shares. Jefferies Financial Group boosted their target price on shares of Datadog from $135.00 to $160.00 and gave the stock a "buy" rating in a research report on Monday. Scotiabank set a $130.00 target price on shares of Datadog and gave the stock an "outperform" rating in a research report on Wednesday, May 7th. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $119.00 target price on shares of Datadog in a research report on Wednesday, May 7th. Guggenheim reissued a "sell" rating and issued a $105.00 price target on shares of Datadog in a report on Tuesday, July 8th. Finally, Cantor Fitzgerald boosted their price target on shares of Datadog from $134.00 to $171.00 and gave the company an "overweight" rating in a report on Wednesday, July 16th. One analyst has rated the stock with a sell rating, five have issued a hold rating and twenty-four have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $147.66.

Insider Activity at Datadog

In related news, CTO Alexis Le-Quoc sold 127,105 shares of the stock in a transaction that occurred on Wednesday, May 7th. The shares were sold at an average price of $105.83, for a total value of $13,451,522.15. Following the sale, the chief technology officer directly owned 466,535 shares in the company, valued at $49,373,399.05. This trade represents a 21.41% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Olivier Pomel sold 107,365 shares of the stock in a transaction that occurred on 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 owned 548,715 shares in the company, valued at $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. In the last quarter, insiders sold 968,861 shares of company stock worth $119,264,653. 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.