Readystate Asset Management LP acquired a new stake in shares of Datadog, Inc. (NASDAQ:DDOG - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 6,204 shares of the company's stock, valued at approximately $615,000.
Several other large investors also recently modified their holdings of the business. OVERSEA CHINESE BANKING Corp Ltd lifted 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 grew its holdings in Datadog by 96.9% in 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 last quarter. Putney Financial Group LLC acquired a new stake in shares of Datadog during the fourth quarter worth $32,000. Elequin Capital LP acquired a new stake in shares of Datadog during the fourth quarter worth $34,000. Finally, Opal Wealth Advisors LLC purchased a new stake in Datadog in the first quarter valued at $37,000. 78.29% of the stock is owned by institutional investors.
Datadog Stock Performance
NASDAQ:DDOG traded up $2.56 during midday trading on Thursday, reaching $146.56. The stock had a trading volume of 2,930,743 shares, compared to its average volume of 10,705,308. Datadog, Inc. has a 1-year low of $81.63 and a 1-year high of $170.08. The firm's fifty day simple moving average is $129.68 and its 200-day simple moving average is $120.78. The company has a debt-to-equity ratio of 0.34, a current ratio of 2.74 and a quick ratio of 2.74. The stock has a market capitalization of $50.61 billion, a P/E ratio of 318.62, a PEG ratio of 79.19 and a beta of 1.03.
Datadog (NASDAQ:DDOG - Get Free Report) last posted 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 business had revenue of $761.55 million for the quarter, compared to analyst estimates of $741.73 million. During the same period last year, the business posted $0.44 EPS. Datadog's revenue was up 24.6% compared to the same quarter last year. On average, equities research analysts forecast that Datadog, Inc. will post 0.34 EPS for the current fiscal year.
Analyst Ratings Changes
Several research firms recently weighed in on DDOG. Needham & Company LLC set a $140.00 price target on shares of Datadog and gave the stock a "buy" rating in a research report on Thursday, June 12th. Cantor Fitzgerald increased their price objective on shares of Datadog from $134.00 to $171.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 16th. Truist Financial lowered their price objective on shares of Datadog from $140.00 to $120.00 and set a "hold" rating for the company in a research report on Monday, March 31st. Wedbush reissued an "outperform" rating and issued a $140.00 price target on shares of Datadog in a research report on Wednesday, June 11th. Finally, Bank of America raised their price target on shares of Datadog from $150.00 to $175.00 and gave the company a "buy" rating in a research report on Monday, July 7th. One investment 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's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $146.79.
Get Our Latest Research Report on Datadog
Insider Buying and Selling at Datadog
In other news, CRO Sean Michael Walters sold 9,469 shares of Datadog stock in a transaction that occurred on Thursday, July 3rd. The shares were sold at an average price of $150.00, for a total transaction of $1,420,350.00. Following the completion of the sale, the executive owned 212,324 shares in the company, valued at $31,848,600. The trade was a 4.27% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CTO Alexis Le-Quoc sold 41,468 shares of Datadog stock in a transaction that occurred on Monday, July 14th. The shares were sold at an average price of $139.27, for a total transaction of $5,775,248.36. Following the completion of the transaction, the chief technology officer directly owned 452,769 shares in the company, valued at approximately $63,057,138.63. The trade was a 8.39% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 957,666 shares of company stock worth $117,576,223 over the last ninety days. Company insiders own 8.70% of the company's stock.
Datadog Company Profile
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Free Report)
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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