Mirae Asset Global Investments Co. Ltd. grew its holdings in Datadog, Inc. (NASDAQ:DDOG – Free Report) by 8.6% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 272,811 shares of the company’s stock after purchasing an additional 21,708 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Datadog were worth $26,839,000 as of its most recent filing with the SEC.
Other institutional investors have also made changes to their positions in the company. Bank Julius Baer & Co. Ltd Zurich grew its holdings in Datadog by 61,592.5% in the 2nd quarter. Bank Julius Baer & Co. Ltd Zurich now owns 11,810,414 shares of the company’s stock valued at $1,161,909,000 after buying an additional 11,791,270 shares during the last quarter. Baillie Gifford & Co. increased its position in Datadog by 70.5% during the second quarter. Baillie Gifford & Co. now owns 10,391,637 shares of the company’s stock worth $1,022,329,000 after acquiring an additional 4,296,835 shares during the period. Norges Bank bought a new stake in Datadog in the 4th quarter valued at $202,877,000. WCM Investment Management LLC boosted its holdings in Datadog by 30.4% in the 2nd quarter. WCM Investment Management LLC now owns 6,204,173 shares of the company’s stock valued at $610,367,000 after purchasing an additional 1,446,993 shares during the period. Finally, SRS Investment Management LLC acquired a new stake in Datadog in the 1st quarter worth $95,013,000. 68.30% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
DDOG has been the topic of a number of recent research reports. Wedbush boosted their price target on Datadog from $90.00 to $120.00 and gave the company an “outperform” rating in a research note on Monday, August 7th. UBS Group assumed coverage on shares of Datadog in a report on Monday, October 2nd. They set a “neutral” rating and a $100.00 price objective for the company. Sanford C. Bernstein lifted their price objective on Datadog from $127.00 to $133.00 and gave the company an “outperform” rating in a report on Wednesday, August 16th. Oppenheimer reiterated an “outperform” rating and issued a $120.00 price target on shares of Datadog in a research report on Wednesday, August 9th. Finally, Morgan Stanley boosted their target price on shares of Datadog from $100.00 to $110.00 and gave the company an “overweight” rating in a research note on Wednesday, November 8th. One analyst has rated the stock with a sell rating, eight have given a hold rating and twenty-one have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $109.17.
Datadog Price Performance
NASDAQ DDOG opened at $111.77 on Tuesday. The firm’s 50 day moving average is $91.79 and its 200-day moving average is $95.41. The company has a quick ratio of 3.35, a current ratio of 3.35 and a debt-to-equity ratio of 0.41. The company has a market capitalization of $36.72 billion, a PE ratio of -931.42, a price-to-earnings-growth ratio of 35.32 and a beta of 1.02. Datadog, Inc. has a 12-month low of $61.34 and a 12-month high of $118.02.
Insider Activity at Datadog
In other news, CFO David M. Obstler sold 10,000 shares of the stock in a transaction dated Tuesday, November 14th. The shares were sold at an average price of $108.37, for a total transaction of $1,083,700.00. Following the completion of the transaction, the chief financial officer now directly owns 260,617 shares in the company, valued at approximately $28,243,064.29. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, President Amit Agarwal sold 112,500 shares of the company’s stock in a transaction that occurred on Thursday, August 24th. The stock was sold at an average price of $92.66, for a total transaction of $10,424,250.00. Following the sale, the president now owns 269,141 shares in the company, valued at approximately $24,938,605.06. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO David M. Obstler sold 10,000 shares of the firm’s stock in a transaction on Tuesday, November 14th. The shares were sold at an average price of $108.37, for a total transaction of $1,083,700.00. Following the completion of the transaction, the chief financial officer now directly owns 260,617 shares of the company’s stock, valued at $28,243,064.29. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 664,822 shares of company stock valued at $62,707,683. Corporate insiders own 14.97% of the company’s stock.
Datadog Company Profile
Datadog, Inc operates an observability and security platform for cloud applications in North America and internationally. The company's products include infrastructure and application performance monitoring, log management, digital experience monitoring, continuous profiler, database monitoring, network monitoring, incident management, observability pipelines, cloud cost management, universal service monitoring, cloud security management, application security management.
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