Y.D. More Investments Ltd Buys 2,808 Shares of Datadog, Inc. (NASDAQ:DDOG)

Key Points

• Y.D. More Investments Ltd increased its stake in Datadog, Inc. by 10.9% in Q1, raising its holdings to 28,664 shares valued at approximately $2.84 million.
• Institutional investors own about 78.29% of Datadog's stock, with significant investments from firms like Vanguard Group and Goldman Sachs, which both increased their positions significantly.
• Datadog recently released strong quarterly earnings, reporting $0.46 per share, exceeding estimates and showing a revenue increase of 24.6% year-over-year.

Y.D. More Investments Ltd raised its stake in Datadog, Inc. (NASDAQ:DDOG - Free Report) by 10.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 28,664 shares of the company's stock after purchasing an additional 2,808 shares during the period. Y.D. More Investments Ltd's holdings in Datadog were worth $2,844,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of DDOG. Vanguard Group Inc. increased its stake in Datadog by 3.5% during the first quarter. Vanguard Group Inc. now owns 31,413,032 shares of the company's stock valued at $3,116,487,000 after acquiring an additional 1,058,803 shares during the period. Baillie Gifford & Co. grew its holdings in shares of Datadog by 12.6% during the 1st quarter. Baillie Gifford & Co. now owns 12,274,655 shares of the company's stock worth $1,217,769,000 after purchasing an additional 1,369,522 shares in the last quarter. Goldman Sachs Group Inc. increased its position in shares of Datadog by 259.7% during the first quarter. Goldman Sachs Group Inc. now owns 8,658,340 shares of the company's stock valued at $858,994,000 after purchasing an additional 6,250,942 shares during the period. Brown Advisory Inc. raised its stake in shares of Datadog by 76.5% in the first quarter. Brown Advisory Inc. now owns 4,853,012 shares of the company's stock valued at $481,467,000 after purchasing an additional 2,103,838 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its position in Datadog by 4.0% in the first quarter. Massachusetts Financial Services Co. MA now owns 4,656,379 shares of the company's stock worth $461,959,000 after purchasing an additional 180,100 shares during the period. 78.29% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CTO Alexis Le-Quoc sold 127,105 shares of the stock in a transaction dated Wednesday, June 4th. The shares were sold at an average price of $119.96, for a total transaction of $15,247,515.80. Following the completion of the transaction, the chief technology officer owned 452,769 shares in the company, valued at approximately $54,314,169.24. This represents a 21.92% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO David M. Obstler sold 35,016 shares of the company's stock in a transaction 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 in the company, valued at $46,874,298. This represents a 8.06% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 794,450 shares of company stock worth $100,732,467 over the last 90 days. 8.70% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on DDOG. DA Davidson set a $160.00 price target on shares of Datadog and gave the company a "buy" rating in a report on Tuesday. Wolfe Research raised shares of 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. Mizuho raised their price target on shares of Datadog from $125.00 to $145.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 16th. Royal Bank Of Canada reiterated an "outperform" rating and issued a $119.00 price objective on shares of Datadog in a research note on Wednesday, May 7th. Finally, Needham & Company LLC set a $140.00 target price on Datadog and gave the stock a "buy" rating in a research report on Thursday, June 12th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and twenty-four have given a buy rating to the stock. According to MarketBeat, Datadog has a consensus rating of "Moderate Buy" and a consensus price target of $148.86.

Datadog Trading Up 3.0%

NASDAQ DDOG opened at $136.96 on Thursday. The company has a debt-to-equity ratio of 0.34, a current ratio of 2.74 and a quick ratio of 2.74. Datadog, Inc. has a one year low of $81.63 and a one year high of $170.08. The business has a 50 day simple moving average of $134.51 and a 200 day simple moving average of $120.96. The stock has a market capitalization of $47.30 billion, a P/E ratio of 297.75, a P/E/G ratio of 73.11 and a beta of 1.02.

Datadog (NASDAQ:DDOG - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The company reported $0.46 earnings per share for the quarter, beating analysts' consensus estimates of $0.42 by $0.04. The firm had revenue of $761.55 million for 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%. The business's quarterly revenue was up 24.6% compared to the same quarter last year. During the same period last year, the firm earned $0.44 earnings per share. Research analysts expect that Datadog, Inc. will post 0.34 earnings per share for the current year.

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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