Datadog, Inc. (NASDAQ:DDOG) Shares Purchased by EFG Asset Management Americas Corp.

EFG Asset Management Americas Corp. boosted its stake in Datadog, Inc. (NASDAQ:DDOG) by 94.3% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 26,058 shares of the company’s stock after purchasing 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 quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. International Assets Investment Management LLC purchased a new stake in shares of Datadog in the 4th quarter valued at $1,915,000. Amalgamated Bank grew its holdings in shares of Datadog by 0.5% in the fourth quarter. Amalgamated Bank now owns 29,210 shares of the company’s stock valued at $3,546,000 after purchasing an additional 152 shares in the last quarter. Benjamin F. Edwards & Company Inc. lifted its holdings in Datadog by 17.9% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 639 shares of the company’s stock worth $78,000 after buying an additional 97 shares in the last quarter. M&T Bank Corp boosted its position in Datadog by 14.8% in the 4th quarter. M&T Bank Corp now owns 10,561 shares of the company’s stock valued at $1,282,000 after buying an additional 1,359 shares during the period. Finally, Spire Wealth Management grew its stake in shares of Datadog by 2,148.5% in the fourth quarter. Spire Wealth Management now owns 5,329 shares of the company’s stock worth $694,000 after acquiring an additional 5,092 shares in the last quarter. Hedge funds and other institutional investors own 78.29% of the company’s stock.

Datadog Stock Performance

NASDAQ:DDOG traded down $2.89 during mid-day trading on Friday, reaching $107.20. The stock had a trading volume of 3,311,255 shares, compared to its average volume of 3,947,442. Datadog, Inc. has a twelve month low of $77.81 and a twelve month high of $138.61. The business has a 50 day simple moving average of $118.42 and a 200 day simple moving average of $120.92. The firm has a market capitalization of $35.86 billion, a price-to-earnings ratio of 335.00, a PEG ratio of 29.66 and a beta of 1.11.

Datadog (NASDAQ:DDOG) last posted its quarterly earnings results on Thursday, August 8th. The company reported $0.43 earnings per share for the quarter, beating 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 firm had revenue of $645.28 million for the quarter, compared to the consensus estimate of $624.92 million. During the same period in the previous year, the business earned $0.36 earnings per share. The company’s revenue for the quarter was up 26.7% compared to the same quarter last year. As a group, sell-side analysts expect that Datadog, Inc. will post 0.41 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the company. Bank of America upgraded Datadog from a “neutral” rating to a “buy” rating and increased their price objective for the company from $143.00 to $155.00 in a research note on Thursday, May 30th. UBS Group lifted their price objective on Datadog from $120.00 to $125.00 and gave the company a “neutral” rating in a research note on Friday, August 9th. BTIG Research upgraded shares of Datadog from a “neutral” rating to a “buy” rating and set a $143.00 price objective on the stock in a report on Thursday, August 1st. Cantor Fitzgerald reissued an “overweight” rating and issued a $150.00 target price on shares of Datadog in a report on Monday, July 22nd. Finally, Loop Capital reaffirmed a “buy” rating and set a $160.00 price target on shares of Datadog in a report on Friday, July 5th. Four investment analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $139.88.

Insider Activity at Datadog

In other Datadog news, insider Madre Armelle De sold 1,749 shares of the stock in a transaction dated Thursday, June 27th. The shares were sold at an average price of $125.00, for a total value of $218,625.00. Following the completion of the transaction, the insider now directly owns 92,025 shares of the company’s stock, valued at $11,503,125. The sale was disclosed in a filing with the SEC, which is available at this link. In other news, insider Madre Armelle De sold 1,749 shares of the firm’s stock in a transaction on Thursday, June 27th. The stock was sold at an average price of $125.00, for a total value of $218,625.00. Following the completion of the transaction, the insider now owns 92,025 shares in the company, valued at $11,503,125. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Titilope Cole sold 2,210 shares of Datadog stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $112.34, for a total transaction of $248,271.40. Following the transaction, the director now owns 6,451 shares of the company’s stock, valued at approximately $724,705.34. The disclosure for this sale can be found here. Insiders sold 576,500 shares of company stock worth $70,322,713 over the last 90 days. Company insiders own 11.78% of the company’s stock.

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.