Asset Management One Co. Ltd. Acquires 5,950 Shares of Datadog, Inc. (NASDAQ:DDOG)

Asset Management One Co. Ltd. grew its position in Datadog, Inc. (NASDAQ:DDOG) by 5.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 109,240 shares of the company’s stock after purchasing an additional 5,950 shares during the quarter. Asset Management One Co. Ltd.’s holdings in Datadog were worth $10,838,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Oppenheimer & Co. Inc. grew its position in Datadog by 69.1% during the first quarter. Oppenheimer & Co. Inc. now owns 23,222 shares of the company’s stock worth $2,304,000 after buying an additional 9,488 shares in the last quarter. Pursue Wealth Partners LLC lifted its stake in Datadog by 38.5% during the first quarter. Pursue Wealth Partners LLC now owns 6,369 shares of the company’s stock worth $632,000 after purchasing an additional 1,772 shares during the last quarter. Kentucky Retirement Systems Insurance Trust Fund bought a new stake in Datadog during the first quarter worth $877,000. Kentucky Retirement Systems bought a new stake in Datadog during the first quarter worth $2,058,000. Finally, Center for Financial Planning Inc. lifted its stake in Datadog by 1,189.7% during the first quarter. Center for Financial Planning Inc. now owns 374 shares of the company’s stock worth $37,000 after purchasing an additional 345 shares during the last quarter. Institutional investors and hedge funds own 78.29% of the company’s stock.

Insiders Place Their Bets

In other Datadog news, General Counsel Kerry Acocella sold 5,099 shares of the firm’s stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $116.84, for a total value of $595,767.16. Following the completion of the sale, the general counsel now directly owns 115,490 shares in the company, valued at $13,493,851.60. This trade represents a 4.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Olivier Pomel sold 107,365 shares of the firm’s stock in a transaction dated Monday, April 7th. The stock was sold at an average price of $87.33, for a total transaction of $9,376,185.45. Following the completion of the sale, the chief executive officer now owns 563,598 shares of the company’s stock, valued at $49,219,013.34. This trade represents a 16.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 901,778 shares of company stock worth $103,817,113 over the last three months. Company insiders own 8.70% of the company’s stock.

Analyst Ratings Changes

DDOG has been the topic of several recent research reports. BTIG Research set a $136.00 price objective on Datadog and gave the company a “buy” rating in a report on Tuesday, May 6th. Jefferies Financial Group reissued a “buy” rating on shares of Datadog in a report on Tuesday, May 6th. Macquarie cut their price objective on Datadog from $175.00 to $140.00 and set an “outperform” rating on the stock in a report on Wednesday, May 7th. Truist Financial cut their price objective on Datadog from $140.00 to $120.00 and set a “hold” rating on the stock in a report on Monday, March 31st. Finally, Scotiabank set a $130.00 price objective on Datadog and gave the company an “outperform” rating in a report on Wednesday, May 7th. Six investment analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Datadog currently has an average rating of “Moderate Buy” and a consensus price target of $143.03.

Datadog Stock Up 0.7%

NASDAQ DDOG opened at $131.12 on Friday. The company has a debt-to-equity ratio of 0.34, a current ratio of 2.74 and a quick ratio of 2.74. The stock has a market capitalization of $45.28 billion, a PE ratio of 285.05, a PEG ratio of 72.05 and a beta of 1.01. Datadog, Inc. has a 1 year low of $81.63 and a 1 year high of $170.08. The business’s 50-day moving average is $114.44 and its 200 day moving average is $121.71.

Datadog (NASDAQ:DDOG) last posted its earnings results on Tuesday, May 6th. The company reported $0.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.42 by $0.04. The company had revenue of $761.55 million for the quarter, compared to analysts’ expectations of $741.73 million. Datadog had a return on equity of 6.39% and a net margin of 5.85%. Datadog’s quarterly revenue was up 24.6% on a year-over-year basis. During the same period last year, the firm earned $0.44 earnings per share. Sell-side analysts forecast 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.