Victory Capital Management Inc. Raises Position in Datadog, Inc. (NASDAQ:DDOG)

Victory Capital Management Inc. raised its holdings in Datadog, Inc. (NASDAQ:DDOG - Free Report) by 4.3% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 267,380 shares of the company's stock after buying an additional 11,116 shares during the period. Victory Capital Management Inc. owned approximately 0.08% of Datadog worth $26,527,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Groupama Asset Managment raised its stake in Datadog by 407.6% during the 4th quarter. Groupama Asset Managment now owns 6,600,000 shares of the company's stock worth $943,074,000 after acquiring an additional 5,299,688 shares in the last quarter. Janus Henderson Group PLC raised its stake in Datadog by 17,477.2% during the 4th quarter. Janus Henderson Group PLC now owns 4,016,558 shares of the company's stock worth $573,923,000 after acquiring an additional 3,993,707 shares in the last quarter. Norges Bank acquired a new stake in Datadog during the 4th quarter worth $462,910,000. Brown Advisory Inc. raised its stake in Datadog by 2,804.2% during the 4th quarter. Brown Advisory Inc. now owns 2,749,174 shares of the company's stock worth $392,830,000 after acquiring an additional 2,654,512 shares in the last quarter. Finally, Assenagon Asset Management S.A. raised its stake in Datadog by 341.0% during the 1st quarter. Assenagon Asset Management S.A. now owns 1,569,341 shares of the company's stock worth $155,694,000 after acquiring an additional 1,213,475 shares in the last quarter. Hedge funds and other institutional investors own 78.29% of the company's stock.

Datadog Trading Up 0.2%

DDOG stock opened at $145.27 on Tuesday. 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 12-month low of $81.63 and a 12-month high of $170.08. The stock has a market cap of $50.17 billion, a price-to-earnings ratio of 315.81, a PEG ratio of 79.75 and a beta of 1.03. The business's 50-day moving average is $127.40 and its 200 day moving average is $120.44.

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

Analysts Set New Price Targets

A number of research firms have recently issued reports on DDOG. Morgan Stanley raised their price target on shares of Datadog from $115.00 to $165.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 10th. BTIG Research set a $136.00 price target on shares of Datadog and gave the company a "buy" rating in a report on Tuesday, May 6th. Bank of America boosted their target price on shares of Datadog from $150.00 to $175.00 and gave the company a "buy" rating in a research note on Monday, July 7th. Needham & Company LLC set a $140.00 target price on shares of Datadog and gave the company a "buy" rating in a research note on Thursday, June 12th. Finally, Macquarie reduced their price target on shares of Datadog from $175.00 to $140.00 and set an "outperform" rating on the stock in a research report on Wednesday, May 7th. One analyst has rated the stock with a sell rating, five have given a hold rating and twenty-four have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $146.79.

Insider Buying and Selling

In other Datadog news, CEO Olivier Pomel sold 107,365 shares of the stock in a transaction dated Monday, June 9th. The shares were sold at an average price of $121.71, for a total value of $13,067,394.15. Following the completion of the transaction, the chief executive officer directly owned 548,715 shares of the company's stock, valued at approximately $66,784,102.65. This trade represents a 16.36% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Amit Agarwal sold 25,000 shares of the stock in a transaction that occurred on Wednesday, May 28th. The shares were sold at an average price of $117.02, for a total transaction of $2,925,500.00. Following the completion of the sale, the director owned 76,052 shares in the company, valued at $8,899,605.04. This represents a 24.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 957,666 shares of company stock valued at $117,576,223 over the last ninety days. Company insiders own 8.70% of the company's stock.

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.

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