Zurich Insurance Group Ltd FI Acquires New Holdings in Datadog, Inc. (NASDAQ:DDOG)

Zurich Insurance Group Ltd FI purchased a new stake in Datadog, Inc. (NASDAQ:DDOG - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 291,274 shares of the company's stock, valued at approximately $41,620,000. Zurich Insurance Group Ltd FI owned approximately 0.09% of Datadog at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in DDOG. Hennion & Walsh Asset Management Inc. raised its holdings in Datadog by 31.4% in the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 6,307 shares of the company's stock valued at $901,000 after acquiring an additional 1,506 shares in the last quarter. Merit Financial Group LLC acquired a new stake in Datadog in the fourth quarter valued at $343,000. HB Wealth Management LLC raised its holdings in Datadog by 20.0% in the fourth quarter. HB Wealth Management LLC now owns 2,428 shares of the company's stock valued at $347,000 after acquiring an additional 404 shares in the last quarter. Perpetual Ltd acquired a new stake in Datadog in the fourth quarter valued at $355,000. Finally, Atomi Financial Group Inc. raised its holdings in Datadog by 70.7% in the fourth quarter. Atomi Financial Group Inc. now owns 6,541 shares of the company's stock valued at $935,000 after acquiring an additional 2,709 shares in the last quarter. 78.29% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Datadog

In other news, CEO Olivier Pomel sold 107,365 shares of Datadog stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $109.56, for a total value of $11,762,909.40. Following the transaction, the chief executive officer now owns 435,793 shares of the company's stock, valued at $47,745,481.08. The trade was a 19.77% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CTO Alexis Le-Quoc sold 127,105 shares of Datadog stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $102.15, for a total transaction of $12,983,775.75. Following the completion of the transaction, the chief technology officer now directly owns 371,865 shares in the company, valued at $37,986,009.75. This represents a 25.47% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 584,867 shares of company stock valued at $60,517,652 in the last quarter. Insiders own 11.78% of the company's stock.

Analyst Ratings Changes

Several research firms recently issued reports on DDOG. JMP Securities reaffirmed a "market perform" rating on shares of Datadog in a report on Friday, February 14th. Rosenblatt Securities dropped their target price on shares of Datadog from $160.00 to $150.00 and set a "buy" rating on the stock in a report on Monday, May 5th. Needham & Company LLC dropped their target price on shares of Datadog from $160.00 to $130.00 and set a "buy" rating on the stock in a report on Wednesday, May 7th. Wolfe Research cut shares of Datadog from an "outperform" rating to a "peer perform" rating in a report on Tuesday, February 18th. Finally, Wells Fargo & Company dropped their target price 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. Seven equities research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $141.54.

Datadog Trading Down 1.0%

DDOG traded down $1.21 on Friday, reaching $114.46. The company had a trading volume of 2,887,685 shares, compared to its average volume of 4,394,496. The company has a fifty day moving average of $102.44 and a 200-day moving average of $125.14. The company has a market capitalization of $39.53 billion, a P/E ratio of 224.44, a PEG ratio of 44.03 and a beta of 1.12. Datadog, Inc. has a one year low of $81.63 and a one year high of $170.08.

Datadog (NASDAQ:DDOG - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The company reported $0.46 earnings per share for the quarter, beating 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 6.85% and a return on equity of 8.28%. The business's revenue for the quarter was up 24.6% on a year-over-year basis. During the same quarter last year, the firm posted $0.44 EPS. Research analysts predict that Datadog, Inc. will post 0.34 EPS 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.