Datadog, Inc. (NASDAQ:DDOG) Shares Acquired by Sumitomo Mitsui DS Asset Management Company Ltd

Sumitomo Mitsui DS Asset Management Company Ltd boosted its holdings in shares of Datadog, Inc. (NASDAQ:DDOG - Free Report) by 21.3% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 76,588 shares of the company's stock after buying an additional 13,474 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd's holdings in Datadog were worth $7,598,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in DDOG. Farther Finance Advisors LLC grew its position in shares of Datadog by 5.2% during the fourth quarter. Farther Finance Advisors LLC now owns 1,853 shares of the company's stock worth $265,000 after buying an additional 92 shares in the last quarter. SageView Advisory Group LLC grew its holdings in Datadog by 4.9% during the 4th quarter. SageView Advisory Group LLC now owns 2,176 shares of the company's stock worth $311,000 after acquiring an additional 101 shares in the last quarter. Corient Private Wealth LLC grew its holdings in Datadog by 0.9% during the 4th quarter. Corient Private Wealth LLC now owns 13,118 shares of the company's stock worth $1,874,000 after acquiring an additional 115 shares in the last quarter. State of Wyoming increased its position in shares of Datadog by 3.7% in the 4th quarter. State of Wyoming now owns 3,277 shares of the company's stock valued at $468,000 after purchasing an additional 117 shares during the last quarter. Finally, Yousif Capital Management LLC raised its holdings in shares of Datadog by 3.3% in the 1st quarter. Yousif Capital Management LLC now owns 3,891 shares of the company's stock valued at $386,000 after purchasing an additional 123 shares in the last quarter. Hedge funds and other institutional investors own 78.29% of the company's stock.

Datadog Stock Performance

Shares of Datadog stock traded up $20.59 during trading hours on Friday, hitting $155.60. 29,996,674 shares of the company were exchanged, compared to its average volume of 4,545,313. The company has a current ratio of 2.74, a quick ratio of 2.74 and a debt-to-equity ratio of 0.34. The business has a 50-day moving average of $120.00 and a 200-day moving average of $121.09. Datadog, Inc. has a 1 year low of $81.63 and a 1 year high of $170.08. The stock has a market capitalization of $53.73 billion, a price-to-earnings ratio of 338.26, a P/E/G ratio of 85.83 and a beta of 1.03.

Datadog (NASDAQ:DDOG - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The company reported $0.46 earnings per share (EPS) for the quarter, beating the consensus estimate 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%. Datadog's revenue was up 24.6% compared to the same quarter last year. During the same period in the previous year, the company posted $0.44 EPS. As a group, analysts expect that Datadog, Inc. will post 0.34 EPS for the current fiscal year.

Insider Buying and Selling at Datadog

In related news, CTO Alexis Le-Quoc sold 127,105 shares of the stock in a transaction dated Wednesday, May 7th. The shares were sold at an average price of $105.83, for a total transaction of $13,451,522.15. Following the completion of the transaction, the chief technology officer directly owned 466,535 shares of the company's stock, valued at $49,373,399.05. This represents a 21.41% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Olivier Pomel sold 107,365 shares of Datadog stock in a transaction that occurred on 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 completion of the sale, the chief executive officer directly owned 563,598 shares in the company, valued at $49,219,013.34. This represents a 16.00% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 901,778 shares of company stock valued at $103,817,113. Insiders own 8.70% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on DDOG. Needham & Company LLC set a $140.00 target price on shares of Datadog and gave the stock a "buy" rating in a research note on Thursday, June 12th. Royal Bank Of Canada restated an "outperform" rating and set a $119.00 target price on shares of Datadog in a research note on Wednesday, May 7th. Bank of America upped their price target on Datadog from $138.00 to $150.00 and gave the company a "buy" rating in a report on Wednesday, June 18th. Wells Fargo & Company cut their price objective on shares of Datadog from $140.00 to $115.00 and set an "equal weight" rating on the stock in a report on Wednesday, May 7th. Finally, Macquarie reduced their price objective on shares of Datadog from $175.00 to $140.00 and set an "outperform" rating for the company in a research report on Wednesday, May 7th. Six research analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the stock. Based on data from MarketBeat, Datadog presently has a consensus rating of "Moderate Buy" and an average target price of $143.03.

Datadog Company 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.