Y Intercept Hong Kong Ltd Raises Stake in Datadog, Inc. (NASDAQ:DDOG)

Y Intercept Hong Kong Ltd lifted its position in Datadog, Inc. (NASDAQ:DDOG - Free Report) by 37.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 72,978 shares of the company's stock after purchasing an additional 19,862 shares during the period. Datadog comprises about 0.5% of Y Intercept Hong Kong Ltd's portfolio, making the stock its 22nd biggest holding. Y Intercept Hong Kong Ltd's holdings in Datadog were worth $7,240,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. Allianz Asset Management GmbH lifted its stake in shares of Datadog by 58.4% in the 1st quarter. Allianz Asset Management GmbH now owns 966,772 shares of the company's stock valued at $95,918,000 after purchasing an additional 356,246 shares during the period. Heritage Investors Management Corp raised its position in Datadog by 478.7% during the first quarter. Heritage Investors Management Corp now owns 56,540 shares of the company's stock worth $5,609,000 after acquiring an additional 46,769 shares during the period. IFP Advisors Inc raised its position in Datadog by 69.3% during the first quarter. IFP Advisors Inc now owns 16,220 shares of the company's stock worth $1,609,000 after acquiring an additional 6,638 shares during the period. AustralianSuper Pty Ltd raised its position in Datadog by 22.3% during the first quarter. AustralianSuper Pty Ltd now owns 7,177 shares of the company's stock worth $712,000 after acquiring an additional 1,308 shares during the period. Finally, Forum Financial Management LP raised its position in Datadog by 6.1% during the first quarter. Forum Financial Management LP now owns 2,040 shares of the company's stock worth $202,000 after acquiring an additional 118 shares during the period. 78.29% of the stock is currently owned by institutional investors and hedge funds.

Datadog Trading Up 1.5%

DDOG stock traded up $2.22 during mid-day trading on Friday, hitting $148.78. 1,894,401 shares of the company were exchanged, compared to its average volume of 5,847,933. The company has a quick ratio of 2.74, a current ratio of 2.74 and a debt-to-equity ratio of 0.34. The firm has a market capitalization of $51.38 billion, a P/E ratio of 323.76, a PEG ratio of 79.19 and a beta of 1.03. The business has a fifty day simple moving average of $129.68 and a 200-day simple moving average of $120.78. Datadog, Inc. has a 12-month low of $81.63 and a 12-month high of $170.08.

Datadog (NASDAQ:DDOG - Get Free Report) last announced its earnings results on Tuesday, May 6th. The company reported $0.46 earnings per share for the quarter, topping the consensus estimate of $0.42 by $0.04. The company had revenue of $761.55 million during the quarter, compared to analyst estimates 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 quarter last year, the firm posted $0.44 earnings per share. On average, equities research analysts predict that Datadog, Inc. will post 0.34 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Matthew Jacobson sold 47,306 shares of the firm's stock in a transaction that occurred on Wednesday, May 7th. The shares were sold at an average price of $107.40, for a total value of $5,080,664.40. Following the completion of the transaction, the director owned 25,468 shares of the company's stock, valued at approximately $2,735,263.20. This trade represents a 65.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Olivier Pomel sold 107,365 shares of the firm's stock in a transaction that occurred on Monday, June 9th. The shares were sold at an average price of $121.71, for a total transaction 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. The trade was a 16.36% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 957,666 shares of company stock valued at $117,576,223. 8.70% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts have weighed in on DDOG shares. DA Davidson upped their price objective on shares of Datadog from $115.00 to $125.00 and gave the stock a "buy" rating in a research report on Monday, May 5th. 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. UBS Group upped their price objective on shares of Datadog from $140.00 to $165.00 and gave the stock a "buy" rating in a research report on Wednesday, July 16th. Mizuho increased their target price on shares of Datadog from $125.00 to $145.00 and gave the company an "outperform" rating in a research report on Wednesday, July 16th. Finally, Wells Fargo & Company reduced their target price on shares of Datadog from $140.00 to $115.00 and set an "equal weight" rating for the company in a research report on Wednesday, May 7th. One research 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.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $146.79.

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.