Assenagon Asset Management S.A. boosted its position in Datadog, Inc. (NASDAQ:DDOG – Get Rating) by 39,233.3% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 657,260 shares of the company’s stock after acquiring an additional 655,589 shares during the period. Assenagon Asset Management S.A. owned about 0.21% of Datadog worth $99,555,000 at the end of the most recent reporting period.
Other hedge funds have also recently added to or reduced their stakes in the company. Nordea Investment Management AB grew its stake in Datadog by 1.9% in the 1st quarter. Nordea Investment Management AB now owns 108,819 shares of the company’s stock worth $16,514,000 after acquiring an additional 2,029 shares during the period. Livingston Group Asset Management CO operating as Southport Capital Management purchased a new stake in Datadog in the 4th quarter worth approximately $3,228,000. KRS Capital Management LLC purchased a new stake in Datadog in the 4th quarter worth approximately $52,000. North Star Asset Management Inc. grew its stake in Datadog by 1.2% in the 4th quarter. North Star Asset Management Inc. now owns 48,676 shares of the company’s stock worth $8,669,000 after acquiring an additional 568 shares during the period. Finally, Elk River Wealth Management LLC purchased a new stake in shares of Datadog during the 1st quarter valued at $428,000. 65.17% of the stock is owned by hedge funds and other institutional investors.
Several analysts have recently issued reports on DDOG shares. Truist Financial lowered their price objective on shares of Datadog from $200.00 to $170.00 in a research note on Friday, May 6th. Royal Bank of Canada lowered their price objective on shares of Datadog from $225.00 to $167.00 in a research note on Monday, May 2nd. Monness Crespi & Hardt lowered their price objective on shares of Datadog from $228.00 to $160.00 and set a “buy” rating for the company in a research note on Friday, May 6th. BTIG Research started coverage on shares of Datadog in a research note on Tuesday, March 22nd. They set a “buy” rating and a $175.00 price objective for the company. Finally, Rosenblatt Securities lowered their price objective on shares of Datadog from $195.00 to $180.00 in a research note on Monday, May 2nd. Four research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $171.40.
Datadog (NASDAQ:DDOG – Get Rating) last issued its quarterly earnings data on Thursday, May 5th. The company reported $0.04 EPS for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.10. Datadog had a net margin of 0.17% and a return on equity of 1.53%. The firm had revenue of $363.03 million for the quarter, compared to analyst estimates of $337.81 million. During the same quarter in the previous year, the business posted ($0.03) EPS. The firm’s revenue was up 82.8% compared to the same quarter last year. On average, analysts anticipate that Datadog, Inc. will post -0.14 EPS for the current year.
In other news, CEO Olivier Pomel sold 12,667 shares of the company’s stock in a transaction dated Thursday, June 2nd. The shares were sold at an average price of $102.22, for a total value of $1,294,820.74. Following the sale, the chief executive officer now owns 269,848 shares in the company, valued at approximately $27,583,862.56. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Amit Agarwal sold 2,500 shares of the company’s stock in a transaction dated Friday, April 8th. The shares were sold at an average price of $134.57, for a total transaction of $336,425.00. Following the completion of the sale, the insider now owns 157,384 shares in the company, valued at approximately $21,179,164.88. The disclosure for this sale can be found here. Insiders sold a total of 98,882 shares of company stock worth $10,304,145 in the last quarter. 15.80% of the stock is currently owned by company insiders.
About Datadog (Get Rating)
Datadog, Inc provides monitoring and analytics platform for developers, information technology operations teams, and business users in the cloud in North America and internationally. The company's SaaS platform integrates and automates infrastructure monitoring, application performance monitoring, log management, and security monitoring to provide real-time observability of its customers technology stack.
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