Nissay Asset Management Corp Japan ADV purchased a new stake in shares of Datadog (NASDAQ:DDOG) during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund purchased 11,206 shares of the company’s stock, valued at approximately $974,000.
A number of other institutional investors have also recently bought and sold shares of DDOG. Lee Capital Holdings LLC acquired a new position in Datadog in the 1st quarter worth about $456,000. New York State Common Retirement Fund grew its position in shares of Datadog by 388.9% in the first quarter. New York State Common Retirement Fund now owns 975,758 shares of the company’s stock valued at $35,108,000 after purchasing an additional 776,192 shares in the last quarter. Driehaus Capital Management LLC purchased a new stake in shares of Datadog in the first quarter valued at approximately $487,000. Bank of New York Mellon Corp grew its position in Datadog by 430.0% in the first quarter. Bank of New York Mellon Corp now owns 80,338 shares of the company’s stock worth $2,890,000 after acquiring an additional 65,181 shares during the period. Finally, Deutsche Bank AG grew its position in Datadog by 746.6% in the first quarter. Deutsche Bank AG now owns 51,481 shares of the company’s stock worth $1,852,000 after acquiring an additional 45,400 shares during the period. Institutional investors and hedge funds own 29.62% of the company’s stock.
In other Datadog news, insider Alexis Le-Quoc sold 192,100 shares of the firm’s stock in a transaction on Monday, May 4th. The stock was sold at an average price of $45.52, for a total value of $8,744,392.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, major shareholder Ventures Vi (Jersey) Lp Index sold 132,802 shares of the firm’s stock in a transaction on Friday, May 15th. The shares were sold at an average price of $68.13, for a total value of $9,047,800.26. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 3,420,018 shares of company stock worth $258,232,306. 26.06% of the stock is owned by insiders.
Datadog (NASDAQ:DDOG) last announced its quarterly earnings data on Monday, May 11th. The company reported $0.06 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.03) by $0.09. The company had revenue of $131.30 million during the quarter, compared to analyst estimates of $117.73 million. The company’s quarterly revenue was up 87.4% compared to the same quarter last year. On average, research analysts forecast that Datadog will post -0.02 earnings per share for the current fiscal year.
DDOG has been the subject of several analyst reports. Jefferies Financial Group increased their price objective on Datadog from $39.00 to $59.00 and gave the stock a “hold” rating in a research report on Tuesday, May 12th. Oppenheimer restated a “hold” rating on shares of Datadog in a research note on Monday, May 11th. Rosenblatt Securities restated a “buy” rating and set a $75.00 price target on shares of Datadog in a research note on Tuesday, July 28th. Stifel Nicolaus upped their price target on Datadog from $50.00 to $60.00 and gave the stock a “buy” rating in a research note on Tuesday, May 12th. Finally, Goldman Sachs Group upped their price target on Datadog from $65.00 to $107.00 in a research note on Monday, June 29th. Nine investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $75.79.
Datadog, Inc provides monitoring and analytics platform for developers, information technology operations teams, and business users in the cloud in North America and internationally. Its SaaS platform integrates and automates infrastructure monitoring, application performance monitoring, and log management to provide real-time observability of customers technology stack.
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