EFG Asset Management Americas Corp. Increases Position in Datadog, Inc. (NASDAQ:DDOG)

EFG Asset Management Americas Corp. boosted its position in Datadog, Inc. (NASDAQ:DDOG) by 94.3% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 26,058 shares of the company’s stock after acquiring an additional 12,650 shares during the period. EFG Asset Management Americas Corp.’s holdings in Datadog were worth $3,379,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of DDOG. Riverview Trust Co acquired a new position in Datadog in the first quarter valued at $26,000. SouthState Corp acquired a new position in shares of Datadog during the 2nd quarter valued at about $26,000. Raleigh Capital Management Inc. purchased a new position in shares of Datadog during the 4th quarter worth about $29,000. Jones Financial Companies Lllp acquired a new stake in shares of Datadog in the fourth quarter worth approximately $33,000. Finally, Quest Partners LLC purchased a new stake in Datadog in the fourth quarter valued at approximately $36,000. 78.29% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have weighed in on DDOG. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $150.00 price target on shares of Datadog in a research note on Monday, July 22nd. Evercore ISI assumed coverage on Datadog in a report on Monday, July 15th. They issued an “outperform” rating and a $150.00 target price on the stock. Scotiabank dropped their price target on Datadog from $145.00 to $135.00 and set a “sector outperform” rating for the company in a research note on Friday, August 9th. BMO Capital Markets cut their price objective on Datadog from $140.00 to $132.00 and set an “outperform” rating on the stock in a report on Friday, August 9th. Finally, Barclays dropped their target price on shares of Datadog from $145.00 to $140.00 and set an “overweight” rating for the company in a research report on Friday, August 9th. Four analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $139.88.

Insider Activity at Datadog

In other Datadog news, Director Titilope Cole sold 2,210 shares of Datadog stock in a transaction on Monday, June 10th. The shares were sold at an average price of $112.34, for a total value of $248,271.40. Following the completion of the transaction, the director now owns 6,451 shares of the company’s stock, valued at $724,705.34. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Datadog news, Director Titilope Cole sold 2,210 shares of Datadog stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $112.34, for a total value of $248,271.40. Following the completion of the transaction, the director now directly owns 6,451 shares in the company, valued at $724,705.34. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CTO Alexis Le-Quoc sold 127,105 shares of the stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $130.75, for a total value of $16,618,978.75. Following the sale, the chief technology officer now owns 279,025 shares in the company, valued at $36,482,518.75. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 576,500 shares of company stock valued at $70,322,713. Corporate insiders own 11.78% of the company’s stock.

Datadog Stock Down 2.6 %

Shares of DDOG traded down $2.89 during midday trading on Friday, hitting $107.20. The company had a trading volume of 3,311,255 shares, compared to its average volume of 3,947,442. The stock has a market cap of $35.86 billion, a price-to-earnings ratio of 335.00, a PEG ratio of 29.66 and a beta of 1.11. The company’s 50 day moving average price is $118.42 and its 200 day moving average price is $120.92. Datadog, Inc. has a 52 week low of $77.81 and a 52 week high of $138.61.

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