Perpetual Ltd Acquires 2,059 Shares of Datadog, Inc. (NASDAQ:DDOG)

Perpetual Ltd raised its holdings in Datadog, Inc. (NASDAQ:DDOG) by 93.6% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 4,259 shares of the company’s stock after acquiring an additional 2,059 shares during the quarter. Perpetual Ltd’s holdings in Datadog were worth $526,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Vanguard Group Inc. boosted its position in shares of Datadog by 2.8% during the fourth quarter. Vanguard Group Inc. now owns 27,259,414 shares of the company’s stock worth $3,308,748,000 after purchasing an additional 734,539 shares in the last quarter. Sands Capital Management LLC boosted its position in shares of Datadog by 3.7% during the fourth quarter. Sands Capital Management LLC now owns 4,564,776 shares of the company’s stock worth $554,073,000 after purchasing an additional 162,108 shares in the last quarter. Norges Bank bought a new position in shares of Datadog during the fourth quarter worth $384,986,000. Massachusetts Financial Services Co. MA boosted its position in shares of Datadog by 31.3% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 2,733,448 shares of the company’s stock worth $331,786,000 after purchasing an additional 651,244 shares in the last quarter. Finally, 1832 Asset Management L.P. boosted its position in shares of Datadog by 47.9% during the fourth quarter. 1832 Asset Management L.P. now owns 2,619,500 shares of the company’s stock worth $317,955,000 after purchasing an additional 848,000 shares in the last quarter. 78.29% of the stock is owned by institutional investors.

Datadog Stock Performance

Shares of Datadog stock opened at $116.08 on Friday. The firm has a market cap of $38.83 billion, a P/E ratio of 362.75, a P/E/G ratio of 45.39 and a beta of 1.09. The company has a current ratio of 3.43, a quick ratio of 3.43 and a debt-to-equity ratio of 0.34. Datadog, Inc. has a 12 month low of $77.81 and a 12 month high of $138.61. The stock’s fifty day moving average price is $120.06 and its 200-day moving average price is $122.81.

Datadog (NASDAQ:DDOG) last issued its quarterly earnings results on Tuesday, May 7th. The company reported $0.16 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.20. Datadog had a return on equity of 7.48% and a net margin of 5.11%. The business had revenue of $611.25 million for the quarter, compared to analyst estimates of $589.97 million. On average, equities research analysts expect that Datadog, Inc. will post 0.27 earnings per share for the current fiscal year.

Insider Transactions at Datadog

In related news, CEO Olivier Pomel sold 98,690 shares of the stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $109.16, for a total value of $10,773,000.40. Following the completion of the transaction, the chief executive officer now directly owns 324,539 shares of the company’s stock, valued at approximately $35,426,677.24. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, CEO Olivier Pomel sold 98,690 shares of the firm’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $109.16, for a total transaction of $10,773,000.40. Following the completion of the transaction, the chief executive officer now directly owns 324,539 shares in the company, valued at approximately $35,426,677.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Madre Armelle De sold 300 shares of the firm’s stock in a transaction dated Tuesday, May 7th. The shares were sold at an average price of $113.37, for a total value of $34,011.00. Following the transaction, the insider now owns 100,053 shares of the company’s stock, valued at $11,343,008.61. The disclosure for this sale can be found here. Insiders sold a total of 694,236 shares of company stock valued at $81,793,845 in the last three months. 11.78% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on DDOG. Needham & Company LLC reissued a “buy” rating and set a $165.00 price target on shares of Datadog in a research report on Wednesday, May 15th. Stifel Nicolaus restated a “buy” rating and set a $152.00 price objective on shares of Datadog in a report on Monday, April 22nd. Bank of America upgraded shares of Datadog from a “neutral” rating to a “buy” rating and lifted their price target for the company from $143.00 to $155.00 in a research note on Thursday, May 30th. Canaccord Genuity Group reissued a “buy” rating and issued a $150.00 price objective on shares of Datadog in a research report on Friday, February 23rd. Finally, Baird R W raised shares of Datadog from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, May 8th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, twenty-five have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $136.04.

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.