Swiss National Bank Buys 2,200 Shares of Datadog, Inc. (NASDAQ:DDOG)

Key Points

• The Swiss National Bank increased its stake in Datadog, Inc. by 0.3%, owning a total of 795,000 shares valued at approximately $78.87 million.
• Insiders sold a significant amount of Datadog stock, including transactions by Director Amit Agarwal and CFO David M. Obstler, decreasing their holdings by 24.74% and 8.06% respectively.
• Datadog's recent earnings report showed a 28.1% revenue increase year-over-year, with an EPS of $0.46 exceeding analysts' expectations of $0.41.

Swiss National Bank boosted its stake in Datadog, Inc. (NASDAQ:DDOG - Free Report) by 0.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 795,000 shares of the company's stock after purchasing an additional 2,200 shares during the quarter. Swiss National Bank owned approximately 0.23% of Datadog worth $78,872,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in DDOG. Brighton Jones LLC bought a new position in Datadog in the 4th quarter worth about $209,000. FIL Ltd bought a new position in Datadog in the 4th quarter worth about $3,176,000. Bessemer Group Inc. boosted its stake in Datadog by 19.5% in the 4th quarter. Bessemer Group Inc. now owns 5,145 shares of the company's stock worth $735,000 after purchasing an additional 839 shares during the period. Treasurer of the State of North Carolina boosted its stake in Datadog by 0.5% in the 4th quarter. Treasurer of the State of North Carolina now owns 134,978 shares of the company's stock worth $19,287,000 after purchasing an additional 650 shares during the period. Finally, Sterling Capital Management LLC boosted its stake in Datadog by 3.5% in the 4th quarter. Sterling Capital Management LLC now owns 45,673 shares of the company's stock worth $6,526,000 after purchasing an additional 1,548 shares during the period. Institutional investors own 78.29% of the company's stock.

Insiders Place Their Bets

In other Datadog news, Director Amit Agarwal sold 25,000 shares of the company's stock in a transaction that occurred on Wednesday, May 28th. The stock was sold at an average price of $117.02, for a total transaction of $2,925,500.00. Following the completion of the transaction, the director owned 76,052 shares of the company's stock, valued at $8,899,605.04. This represents a 24.74% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO David M. Obstler sold 35,016 shares of the company's stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $117.40, for a total value of $4,110,878.40. Following the transaction, the chief financial officer directly owned 399,270 shares of the company's stock, valued at $46,874,298. The trade was a 8.06% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 835,918 shares of company stock worth $106,308,669. 8.70% of the stock is currently owned by company insiders.

Datadog Stock Performance

Datadog stock opened at $130.91 on Friday. The company has a current ratio of 3.43, a quick ratio of 2.74 and a debt-to-equity ratio of 0.31. The firm has a 50-day moving average of $135.18 and a 200-day moving average of $120.76. The firm has a market cap of $45.21 billion, a P/E ratio of 374.04, a P/E/G ratio of 71.99 and a beta of 1.02. 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 quarterly earnings results on Thursday, August 7th. The company reported $0.46 EPS for the quarter, beating analysts' consensus estimates of $0.41 by $0.05. The business had revenue of $826.76 million during the quarter, compared to analyst estimates of $791.72 million. Datadog had a return on equity of 5.04% and a net margin of 4.13%. Datadog's quarterly revenue was up 28.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.43 EPS. Sell-side analysts expect that Datadog, Inc. will post 0.34 EPS for the current year.

Analyst Ratings Changes

Several research analysts have commented on the company. UBS Group set a $165.00 target price on Datadog and gave the stock a "buy" rating in a research note on Thursday. Barclays set a $170.00 price target on Datadog and gave the company an "overweight" rating in a research report on Thursday. Guggenheim reiterated a "sell" rating and set a $105.00 price target on shares of Datadog in a research report on Tuesday, July 8th. Wolfe Research upgraded Datadog from a "peer perform" rating to an "outperform" rating and set a $150.00 price target for the company in a research report on Thursday, June 12th. Finally, Morgan Stanley lifted their price target on Datadog from $115.00 to $165.00 and gave the company an "equal weight" rating in a research report on Thursday, July 10th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and twenty-four have given a buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $151.72.

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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