Zurich Insurance Group Ltd FI Makes New $41.62 Million Investment in Datadog, Inc. (NASDAQ:DDOG)

Zurich Insurance Group Ltd FI purchased a new position in shares of Datadog, Inc. (NASDAQ:DDOG) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 291,274 shares of the company’s stock, valued at approximately $41,620,000. Zurich Insurance Group Ltd FI owned approximately 0.09% of Datadog at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of DDOG. Avior Wealth Management LLC raised its holdings in shares of Datadog by 55.9% in the 4th quarter. Avior Wealth Management LLC now owns 226 shares of the company’s stock valued at $32,000 after purchasing an additional 81 shares during the period. Coppell Advisory Solutions LLC raised its holdings in shares of Datadog by 178.8% in the 4th quarter. Coppell Advisory Solutions LLC now owns 276 shares of the company’s stock valued at $40,000 after purchasing an additional 177 shares during the period. Summit Securities Group LLC bought a new stake in shares of Datadog in the 4th quarter valued at about $43,000. Itau Unibanco Holding S.A. raised its holdings in shares of Datadog by 417.7% in the 4th quarter. Itau Unibanco Holding S.A. now owns 321 shares of the company’s stock valued at $46,000 after purchasing an additional 259 shares during the period. Finally, Shell Asset Management Co. bought a new stake in shares of Datadog in the 4th quarter valued at about $48,000. 78.29% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Needham & Company LLC dropped their target price on shares of Datadog from $160.00 to $130.00 and set a “buy” rating on the stock in a report on Wednesday, May 7th. Rosenblatt Securities dropped their target price on shares of Datadog from $160.00 to $150.00 and set a “buy” rating on the stock in a report on Monday, May 5th. Morgan Stanley decreased their price target on shares of Datadog from $143.00 to $115.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 16th. Jefferies Financial Group reiterated a “buy” rating on shares of Datadog in a research note on Tuesday, May 6th. Finally, Stifel Nicolaus set a $120.00 price target on shares of Datadog in a research note on Tuesday, May 6th. Seven investment analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the stock. According to MarketBeat.com, Datadog has a consensus rating of “Moderate Buy” and a consensus target price of $141.54.

Datadog Trading Down 1.0%

NASDAQ DDOG opened at $116.46 on Tuesday. The firm has a market capitalization of $40.22 billion, a price-to-earnings ratio of 228.36, a P/E/G ratio of 44.03 and a beta of 1.12. The firm’s 50 day simple moving average is $101.39 and its 200 day simple moving average is $125.45. Datadog, Inc. has a 1 year low of $81.63 and a 1 year high of $170.08.

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

Insider Buying and Selling

In related news, CRO Sean Michael Walters sold 8,454 shares of the stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $102.04, for a total value of $862,646.16. Following the completion of the transaction, the executive now owns 185,871 shares of the company’s stock, valued at $18,966,276.84. This represents a 4.35% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CTO Alexis Le-Quoc sold 127,105 shares of the stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $102.15, for a total transaction of $12,983,775.75. Following the completion of the transaction, the chief technology officer now directly owns 371,865 shares of the company’s stock, valued at approximately $37,986,009.75. The trade was a 25.47% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 584,867 shares of company stock worth $60,517,652. Corporate insiders own 11.78% of the company’s stock.

Datadog 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.