OFI Invest Asset Management Buys 1,622 Shares of Datadog, Inc. (NASDAQ:DDOG)

OFI Invest Asset Management raised its stake in Datadog, Inc. (NASDAQ:DDOG) by 474.3% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 1,964 shares of the company’s stock after purchasing an additional 1,622 shares during the quarter. OFI Invest Asset Management’s holdings in Datadog were worth $238,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Riverview Trust Co bought a new stake in shares of Datadog in the first quarter worth about $26,000. Raleigh Capital Management Inc. bought a new stake in shares of Datadog in the 4th quarter worth approximately $29,000. Jones Financial Companies Lllp purchased a new position in shares of Datadog during the fourth quarter valued at approximately $33,000. Quest Partners LLC bought a new position in shares of Datadog during the fourth quarter valued at approximately $36,000. Finally, Blue Trust Inc. purchased a new stake in Datadog in the second quarter worth $37,000. Institutional investors own 78.29% of the company’s stock.

Datadog Stock Performance

Shares of Datadog stock traded down $1.35 during trading on Friday, hitting $114.98. 2,197,923 shares of the company’s stock traded hands, compared to its average volume of 4,092,042. Datadog, Inc. has a 1 year low of $77.81 and a 1 year high of $138.61. The business has a 50-day simple moving average of $119.86 and a 200-day simple moving average of $122.61. The stock has a market capitalization of $38.46 billion, a P/E ratio of 359.31, a PEG ratio of 37.24 and a beta of 1.11. The company has a debt-to-equity ratio of 0.34, a current ratio of 3.43 and a quick ratio of 3.43.

Datadog (NASDAQ:DDOG) last announced its quarterly earnings results on Thursday, August 8th. The company reported $0.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.37 by $0.06. Datadog had a net margin of 5.11% and a return on equity of 7.48%. The firm had revenue of $645.28 million for the quarter, compared to the consensus estimate of $624.92 million. During the same quarter last year, the firm posted $0.36 EPS. The business’s quarterly revenue was up 26.7% compared to the same quarter last year. As a group, analysts forecast that Datadog, Inc. will post 0.32 EPS for the current year.

Insiders Place Their Bets

In other news, CTO Alexis Le-Quoc sold 127,105 shares of the stock in a transaction on Monday, August 12th. The stock was sold at an average price of $111.66, for a total transaction of $14,192,544.30. Following the transaction, the chief technology officer now directly owns 347,684 shares of the company’s stock, valued at approximately $38,822,395.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, CEO Olivier Pomel sold 200,993 shares of the company’s stock in a transaction dated Monday, July 8th. The shares were sold at an average price of $131.01, for a total transaction of $26,332,092.93. Following the completion of the sale, the chief executive officer now owns 324,539 shares of the company’s stock, valued at approximately $42,517,854.39. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO Alexis Le-Quoc sold 127,105 shares of the firm’s stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $111.66, for a total transaction of $14,192,544.30. Following the completion of the transaction, the chief technology officer now directly owns 347,684 shares in the company, valued at approximately $38,822,395.44. The disclosure for this sale can be found here. In the last quarter, insiders sold 857,306 shares of company stock valued at $101,078,323. Company insiders own 11.78% of the company’s stock.

Wall Street Analyst Weigh In

DDOG has been the subject of several research analyst reports. Evercore ISI began coverage on shares of Datadog in a research report on Monday, July 15th. They issued an “outperform” rating and a $150.00 target price for the company. Loop Capital restated a “buy” rating and issued a $160.00 price objective on shares of Datadog in a report on Friday, July 5th. Baird R W raised Datadog from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, May 8th. BMO Capital Markets decreased their target price on Datadog from $140.00 to $132.00 and set an “outperform” rating for the company in a research report on Friday, August 9th. Finally, Rosenblatt Securities restated a “buy” rating and issued a $146.00 target price on shares of Datadog in a research note on Monday, May 6th. Four research analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Datadog currently has an average rating of “Moderate Buy” and an average target price of $139.15.

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.