DekaBank Deutsche Girozentrale Boosts Position in Datadog, Inc. (NASDAQ:DDOG)

DekaBank Deutsche Girozentrale lifted its position in shares of Datadog, Inc. (NASDAQ:DDOG) by 34.1% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 502,838 shares of the company’s stock after buying an additional 127,793 shares during the quarter. DekaBank Deutsche Girozentrale owned approximately 0.15% of Datadog worth $64,792,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Principal Securities Inc. purchased a new stake in shares of Datadog in the fourth quarter valued at about $326,000. QRG Capital Management Inc. grew its holdings in Datadog by 68.4% during the 4th quarter. QRG Capital Management Inc. now owns 7,665 shares of the company’s stock valued at $930,000 after buying an additional 3,113 shares during the last quarter. Dimensional Fund Advisors LP increased its position in Datadog by 12.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 254,076 shares of the company’s stock worth $30,842,000 after buying an additional 28,394 shares in the last quarter. Avantax Advisory Services Inc. raised its holdings in shares of Datadog by 32.6% in the fourth quarter. Avantax Advisory Services Inc. now owns 4,729 shares of the company’s stock worth $574,000 after acquiring an additional 1,162 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC lifted its position in shares of Datadog by 10.5% in the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 14,103 shares of the company’s stock valued at $1,712,000 after acquiring an additional 1,337 shares in the last quarter. 78.29% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO Olivier Pomel sold 200,993 shares of the stock in a transaction that occurred on Monday, July 8th. The stock was sold at an average price of $131.01, for a total transaction of $26,332,092.93. Following the completion of the transaction, the chief executive officer now directly owns 324,539 shares in the company, valued at approximately $42,517,854.39. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In related news, General Counsel Kerry Acocella sold 5,955 shares of the firm’s stock in a transaction on Monday, June 24th. The stock was sold at an average price of $120.09, for a total transaction of $715,135.95. Following the transaction, the general counsel now directly owns 85,787 shares in the company, valued at $10,302,160.83. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Olivier Pomel sold 200,993 shares of the firm’s stock in a transaction on Monday, July 8th. The stock was sold at an average price of $131.01, for a total value of $26,332,092.93. Following the transaction, the chief executive officer now owns 324,539 shares in the company, valued at $42,517,854.39. The disclosure for this sale can be found here. In the last three months, insiders sold 561,997 shares of company stock worth $68,517,631. 11.78% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on DDOG shares. Monness Crespi & Hardt raised shares of Datadog from a “sell” rating to a “neutral” rating in a research note on Wednesday, August 7th. Scotiabank cut their target price on shares of Datadog from $145.00 to $135.00 and set a “sector outperform” rating for the company in a research note on Friday, August 9th. UBS Group boosted their target price on shares of Datadog from $120.00 to $125.00 and gave the company a “neutral” rating in a research note on Friday, August 9th. Wedbush reissued an “outperform” rating and issued a $155.00 target price on shares of Datadog in a research note on Friday, August 9th. Finally, BMO Capital Markets cut their target price on shares of Datadog from $140.00 to $132.00 and set an “outperform” rating for the company in a research note on Friday, August 9th. Four equities research analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $139.88.

Datadog Stock Down 0.3 %

NASDAQ DDOG opened at $109.26 on Friday. The stock has a market cap of $36.55 billion, a PE ratio of 341.44, a P/E/G ratio of 27.84 and a beta of 1.11. Datadog, Inc. has a fifty-two week low of $77.81 and a fifty-two week high of $138.61. The business has a 50 day moving average price of $116.11 and a two-hundred day moving average price of $120.23.

Datadog (NASDAQ:DDOG) last released its quarterly earnings results on Thursday, August 8th. The company reported $0.43 earnings per share for the quarter, topping analysts’ consensus estimates of $0.37 by $0.06. The firm had revenue of $645.28 million during the quarter, compared to analysts’ expectations of $624.92 million. Datadog had a return on equity of 9.01% and a net margin of 6.81%. Datadog’s quarterly revenue was up 26.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.36 EPS. Sell-side analysts anticipate that Datadog, Inc. will post 0.41 EPS for the current fiscal year.

About Datadog

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.