APG Asset Management US Inc. Acquires 1,789 Shares of Datadog, Inc. (NASDAQ:DDOG)

APG Asset Management US Inc. lifted its holdings in Datadog, Inc. (NASDAQ:DDOG) by 2.1% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 85,469 shares of the company’s stock after acquiring an additional 1,789 shares during the period. APG Asset Management US Inc.’s holdings in Datadog were worth $11,154,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in DDOG. Kodai Capital Management LP bought a new stake in shares of Datadog in the 1st quarter valued at approximately $116,054,000. 1832 Asset Management L.P. lifted its position in Datadog by 47.9% in the fourth quarter. 1832 Asset Management L.P. now owns 2,619,500 shares of the company’s stock worth $317,955,000 after buying an additional 848,000 shares during the last quarter. DNB Asset Management AS boosted its stake in Datadog by 1,974.5% during the second quarter. DNB Asset Management AS now owns 847,600 shares of the company’s stock worth $109,925,000 after buying an additional 806,741 shares during the period. Thrivent Financial for Lutherans increased its position in Datadog by 1,597.9% during the second quarter. Thrivent Financial for Lutherans now owns 785,261 shares of the company’s stock valued at $101,841,000 after acquiring an additional 739,011 shares during the last quarter. Finally, Vanguard Group Inc. raised its stake in shares of Datadog by 2.8% in the fourth quarter. Vanguard Group Inc. now owns 27,259,414 shares of the company’s stock valued at $3,308,748,000 after acquiring an additional 734,539 shares during the period. Hedge funds and other institutional investors own 78.29% of the company’s stock.

Datadog Price Performance

DDOG opened at $114.21 on Friday. The firm has a market capitalization of $38.51 billion, a PE ratio of 356.91, a price-to-earnings-growth ratio of 28.94 and a beta of 1.11. The business’s 50-day moving average is $114.00 and its two-hundred day moving average is $119.46. Datadog, Inc. has a 1 year low of $77.81 and a 1 year high of $138.61.

Datadog (NASDAQ:DDOG) last issued 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 net margin of 6.81% and a return on equity of 9.01%. The firm had revenue of $645.28 million for the quarter, compared to the consensus estimate of $624.92 million. During the same quarter in the previous year, the firm earned $0.36 EPS. The company’s quarterly revenue was up 26.7% compared to the same quarter last year. As a group, sell-side analysts expect that Datadog, Inc. will post 0.42 EPS for the current year.

Analysts Set New Price Targets

A number of research firms recently commented on DDOG. Monness Crespi & Hardt raised shares of Datadog from a “sell” rating to a “neutral” rating in a research note on Wednesday, August 7th. Needham & Company LLC cut their target price on Datadog from $165.00 to $140.00 and set a “buy” rating on the stock in a research note on Friday, August 9th. Cantor Fitzgerald reissued an “overweight” rating and set a $150.00 price target on shares of Datadog in a research note on Monday, July 22nd. Bank of America raised Datadog from a “neutral” rating to a “buy” rating and upped their price objective for the company from $143.00 to $155.00 in a research report on Thursday, May 30th. Finally, Wedbush reiterated an “outperform” rating and set a $155.00 target price on shares of Datadog in a research report on Friday, August 9th. Four investment analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $139.88.

Insider Activity

In related news, Director Matthew Jacobson sold 9,256 shares of the business’s stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $108.05, for a total transaction of $1,000,110.80. Following the transaction, the director now directly owns 48,411 shares in the company, valued at approximately $5,230,808.55. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, CTO Alexis Le-Quoc sold 127,105 shares of Datadog stock in a transaction on Monday, July 1st. The shares were sold at an average price of $130.75, for a total transaction of $16,618,978.75. Following the completion of the sale, the chief technology officer now directly owns 279,025 shares in the company, valued at $36,482,518.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Matthew Jacobson sold 9,256 shares of the company’s stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $108.05, for a total value of $1,000,110.80. Following the completion of the transaction, the director now directly owns 48,411 shares in the company, valued at $5,230,808.55. The disclosure for this sale can be found here. In the last quarter, insiders sold 550,096 shares of company stock worth $67,067,959. 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.