Resona Asset Management Co. Ltd. Acquires 2,843 Shares of Datadog, Inc. (NASDAQ:DDOG)

Resona Asset Management Co. Ltd. increased its holdings in Datadog, Inc. (NASDAQ:DDOG - Free Report) by 3.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 86,646 shares of the company's stock after purchasing an additional 2,843 shares during the quarter. Resona Asset Management Co. Ltd.'s holdings in Datadog were worth $8,622,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. Callan Family Office LLC grew its stake in shares of Datadog by 19.1% in the first quarter. Callan Family Office LLC now owns 9,235 shares of the company's stock worth $916,000 after purchasing an additional 1,481 shares during the last quarter. HighTower Advisors LLC grew its stake in shares of Datadog by 5.7% in the first quarter. HighTower Advisors LLC now owns 46,662 shares of the company's stock worth $4,629,000 after purchasing an additional 2,506 shares during the last quarter. Motley Fool Asset Management LLC grew its stake in shares of Datadog by 149.0% in the first quarter. Motley Fool Asset Management LLC now owns 38,132 shares of the company's stock worth $3,783,000 after purchasing an additional 22,818 shares during the last quarter. Nuveen LLC bought a new stake in shares of Datadog in the first quarter worth $94,970,000. Finally, Mizuho Markets Americas LLC bought a new stake in shares of Datadog in the first quarter worth $15,526,000. Institutional investors own 78.29% of the company's stock.

Insider Buying and Selling

In other Datadog news, CEO Olivier Pomel sold 32,923 shares of the company's stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $130.38, for a total value of $4,292,500.74. Following the completion of the sale, the chief executive officer directly owned 548,715 shares of the company's stock, valued at approximately $71,541,461.70. This represents a 5.66% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Titilope Cole sold 2,210 shares of the company's stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $136.59, for a total transaction of $301,863.90. Following the completion of the sale, the director directly owned 6,347 shares of the company's stock, valued at $866,936.73. The trade was a 25.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 846,051 shares of company stock worth $107,936,283 over the last ninety days. Insiders own 8.70% of the company's stock.

Datadog Trading Down 3.3%

DDOG opened at $124.52 on Friday. The company has a debt-to-equity ratio of 0.31, a current ratio of 3.43 and a quick ratio of 2.74. Datadog, Inc. has a fifty-two week low of $81.63 and a fifty-two week high of $170.08. The firm has a market capitalization of $43.00 billion, a PE ratio of 355.78, a P/E/G ratio of 61.60 and a beta of 1.02. The company's 50-day moving average is $135.84 and its 200 day moving average is $120.53.

Datadog (NASDAQ:DDOG - Get Free Report) last posted its earnings results on Thursday, August 7th. The company reported $0.46 earnings per share for the quarter, topping analysts' consensus estimates of $0.41 by $0.05. Datadog had a net margin of 4.13% and a return on equity of 5.04%. The company had revenue of $826.76 million for the quarter, compared to analyst estimates of $791.72 million. During the same quarter in the prior year, the business posted $0.43 EPS. The firm's revenue was up 28.1% compared to the same quarter last year. As a group, research analysts predict that Datadog, Inc. will post 0.34 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

DDOG has been the topic of several analyst reports. Jefferies Financial Group boosted their price objective on shares of Datadog from $135.00 to $160.00 and gave the stock a "buy" rating in a research note on Monday, August 4th. UBS Group set a $165.00 target price on shares of Datadog and gave the company a "buy" rating in a report on Thursday, August 7th. Stifel Nicolaus boosted their target price on shares of Datadog from $120.00 to $135.00 and gave the company a "hold" rating in a report on Thursday, June 26th. Morgan Stanley boosted their target price on shares of Datadog from $115.00 to $165.00 and gave the company an "equal weight" rating in a report on Thursday, July 10th. Finally, Macquarie dropped their target price 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. One equities research 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 company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $152.93.

Datadog Profile

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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