Covea Finance Has $3.38 Million Holdings in Datadog, Inc. (NASDAQ:DDOG)

Covea Finance lifted its position in shares of Datadog, Inc. (NASDAQ:DDOG) by 44.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 29,400 shares of the company’s stock after buying an additional 9,100 shares during the quarter. Covea Finance’s holdings in Datadog were worth $3,383,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of DDOG. Congress Asset Management Co. MA bought a new stake in shares of Datadog in the 1st quarter valued at $1,083,000. Vanguard Group Inc. raised its position in shares of Datadog by 0.6% during the first quarter. Vanguard Group Inc. now owns 27,431,107 shares of the company’s stock worth $3,390,485,000 after purchasing an additional 171,693 shares during the period. Los Angeles Capital Management LLC grew its position in Datadog by 9.3% in the 1st quarter. Los Angeles Capital Management LLC now owns 264,821 shares of the company’s stock valued at $32,732,000 after purchasing an additional 22,544 shares during the period. Bank of Montreal Can increased its stake in Datadog by 129.2% during the 2nd quarter. Bank of Montreal Can now owns 610,977 shares of the company’s stock valued at $79,384,000 after purchasing an additional 344,431 shares in the last quarter. Finally, Plato Investment Management Ltd raised its holdings in Datadog by 1,648.8% during the first quarter. Plato Investment Management Ltd now owns 5,159 shares of the company’s stock worth $638,000 after buying an additional 4,864 shares during the last quarter. Institutional investors own 78.29% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on DDOG. BNP Paribas started coverage on shares of Datadog in a research report on Tuesday. They issued an “outperform” rating and a $150.00 price target on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and set a $151.00 target price on shares of Datadog in a research report on Friday, August 9th. Wedbush reissued an “outperform” rating and issued a $155.00 price target on shares of Datadog in a research report on Friday, August 9th. DA Davidson raised shares of Datadog from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $115.00 to $140.00 in a report on Tuesday, October 1st. Finally, BTIG Research upgraded shares of Datadog from a “neutral” rating to a “buy” rating and set a $143.00 target price for the company in a report on Thursday, August 1st. Four analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $141.19.

Insider Buying and Selling at Datadog

In related news, CFO David M. Obstler sold 33,333 shares of Datadog stock in a transaction on Tuesday, October 8th. The stock was sold at an average price of $125.70, for a total value of $4,189,958.10. Following the completion of the sale, the chief financial officer now owns 314,158 shares of the company’s stock, valued at $39,489,660.60. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, CFO David M. Obstler sold 33,333 shares of the business’s stock in a transaction on Tuesday, October 8th. The shares were sold at an average price of $125.70, for a total transaction of $4,189,958.10. Following the completion of the sale, the chief financial officer now owns 314,158 shares of the company’s stock, valued at $39,489,660.60. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Olivier Pomel sold 85,637 shares of the firm’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $104.21, for a total value of $8,924,231.77. Following the completion of the transaction, the chief executive officer now directly owns 405,314 shares in the company, valued at approximately $42,237,771.94. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 361,574 shares of company stock worth $41,291,591. Company insiders own 11.78% of the company’s stock.

Datadog Stock Down 0.2 %

Shares of DDOG traded down $0.28 during trading hours on Friday, reaching $129.81. 2,651,464 shares of the company traded hands, compared to its average volume of 3,830,093. The company’s fifty day moving average price is $114.75 and its two-hundred day moving average price is $119.32. The company has a market capitalization of $43.77 billion, a price-to-earnings ratio of 288.47, a price-to-earnings-growth ratio of 22.85 and a beta of 1.11. Datadog, Inc. has a 12 month low of $77.81 and a 12 month high of $138.61.

Datadog (NASDAQ:DDOG) last posted its quarterly earnings data on Thursday, August 8th. The company reported $0.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.37 by $0.06. Datadog had a return on equity of 9.01% and a net margin of 6.81%. The business had revenue of $645.28 million during the quarter, compared to the consensus estimate of $624.92 million. During the same quarter in the prior year, the company earned $0.36 earnings per share. The firm’s quarterly revenue was up 26.7% compared to the same quarter last year. On average, analysts expect that Datadog, Inc. will post 0.42 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.