Datadog, Inc. (NASDAQ:DDOG) Position Boosted by Nissay Asset Management Corp Japan ADV

Nissay Asset Management Corp Japan ADV increased its holdings in Datadog, Inc. (NASDAQ:DDOG) by 4.9% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 65,892 shares of the company’s stock after purchasing an additional 3,048 shares during the quarter. Nissay Asset Management Corp Japan ADV’s holdings in Datadog were worth $9,620,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also added to or reduced their stakes in DDOG. Wealth Enhancement Advisory Services LLC grew its holdings in Datadog by 1.2% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 11,883 shares of the company’s stock worth $1,698,000 after buying an additional 137 shares in the last quarter. Wedmont Private Capital grew its holdings in Datadog by 8.3% in the 4th quarter. Wedmont Private Capital now owns 2,149 shares of the company’s stock worth $302,000 after buying an additional 164 shares in the last quarter. Cooper Financial Group grew its holdings in Datadog by 10.5% in the 4th quarter. Cooper Financial Group now owns 1,996 shares of the company’s stock worth $285,000 after buying an additional 189 shares in the last quarter. Pallas Capital Advisors LLC grew its holdings in Datadog by 26.5% in the 4th quarter. Pallas Capital Advisors LLC now owns 2,834 shares of the company’s stock worth $405,000 after buying an additional 594 shares in the last quarter. Finally, FNY Investment Advisers LLC bought a new position in Datadog in the 4th quarter worth approximately $192,000. 78.29% of the stock is owned by institutional investors.

Datadog Stock Up 1.5%

DDOG opened at $119.09 on Thursday. The firm has a market cap of $40.82 billion, a PE ratio of 233.51, a P/E/G ratio of 44.03 and a beta of 1.12. The business has a fifty day simple moving average of $100.48 and a 200-day simple moving average of $125.66. Datadog, Inc. has a fifty-two week low of $81.63 and a fifty-two week high of $170.08.

Datadog (NASDAQ:DDOG) last issued its earnings results on Tuesday, May 6th. The company reported $0.46 EPS for the quarter, topping the consensus estimate of $0.42 by $0.04. The business had revenue of $761.55 million during the quarter, compared to analysts’ expectations of $741.73 million. Datadog had a return on equity of 8.28% and a net margin of 6.85%. Datadog’s revenue was up 24.6% compared to the same quarter last year. During the same quarter last year, the firm posted $0.44 earnings per share. On average, equities research analysts anticipate that Datadog, Inc. will post 0.34 EPS for the current fiscal year.

Insider Transactions at Datadog

In other news, Director Amit Agarwal sold 10,167 shares of the firm’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $115.86, for a total value of $1,177,948.62. Following the completion of the sale, the director now owns 82,324 shares of the company’s stock, valued at $9,538,058.64. This trade represents a 10.99% 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 stock in a transaction on Friday, March 7th. The stock was sold at an average price of $109.56, for a total value of $11,762,909.40. Following the sale, the chief executive officer now owns 435,793 shares of the company’s stock, valued at approximately $47,745,481.08. This represents a 19.77% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 559,867 shares of company stock valued at $57,550,902 over the last quarter. Company insiders own 11.78% of the company’s stock.

Analyst Upgrades and Downgrades

DDOG has been the subject of a number of recent analyst reports. Needham & Company LLC decreased their price objective on Datadog from $160.00 to $130.00 and set a “buy” rating for the company in a report on Wednesday, May 7th. Macquarie lowered their price target on Datadog from $175.00 to $140.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 7th. Royal Bank of Canada reiterated an “outperform” rating and set a $119.00 price target on shares of Datadog in a research report on Wednesday, May 7th. Truist Financial lowered their price target on Datadog from $140.00 to $120.00 and set a “hold” rating on the stock in a research report on Monday, March 31st. Finally, Rosenblatt Securities lowered their price target on Datadog from $160.00 to $150.00 and set a “buy” rating on the stock in a research report on Monday, May 5th. Seven equities research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $141.54.

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.