Mirae Asset Global Investments Co. Ltd. Raises Stake in Datadog, Inc. (NASDAQ:DDOG)

Mirae Asset Global Investments Co. Ltd. raised its position in shares of Datadog, Inc. (NASDAQ:DDOG) by 23.1% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 171,933 shares of the company’s stock after purchasing an additional 32,217 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Datadog were worth $19,635,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the company. Mediolanum International Funds Ltd lifted its holdings in Datadog by 51.6% during the third quarter. Mediolanum International Funds Ltd now owns 68,884 shares of the company’s stock valued at $7,854,000 after purchasing an additional 23,447 shares in the last quarter. Hudock Inc. lifted its holdings in Datadog by 3.3% during the third quarter. Hudock Inc. now owns 3,596 shares of the company’s stock valued at $414,000 after purchasing an additional 116 shares in the last quarter. Ballentine Partners LLC lifted its holdings in Datadog by 96.5% during the third quarter. Ballentine Partners LLC now owns 4,085 shares of the company’s stock valued at $470,000 after purchasing an additional 2,006 shares in the last quarter. Assenagon Asset Management S.A. lifted its holdings in Datadog by 10.1% during the third quarter. Assenagon Asset Management S.A. now owns 228,914 shares of the company’s stock valued at $26,339,000 after purchasing an additional 21,030 shares in the last quarter. Finally, IFM Investors Pty Ltd lifted its holdings in Datadog by 0.6% during the third quarter. IFM Investors Pty Ltd now owns 53,558 shares of the company’s stock valued at $6,162,000 after purchasing an additional 318 shares in the last quarter. Hedge funds and other institutional investors own 78.29% of the company’s stock.

Insider Buying and Selling at Datadog

In other Datadog news, Director Shardul Shah sold 15,832 shares of the stock in a transaction dated Friday, October 4th. The shares were sold at an average price of $120.02, for a total transaction of $1,900,156.64. Following the completion of the sale, the director now directly owns 459,449 shares of the company’s stock, valued at approximately $55,143,068.98. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Datadog news, CEO Olivier Pomel sold 85,637 shares of the stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $104.21, for a total transaction of $8,924,231.77. Following the completion of the sale, the chief executive officer now directly owns 405,314 shares of the company’s stock, valued at approximately $42,237,771.94. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Shardul Shah sold 15,832 shares of the stock in a transaction dated Friday, October 4th. The shares were sold at an average price of $120.02, for a total transaction of $1,900,156.64. Following the sale, the director now directly owns 459,449 shares of the company’s stock, valued at approximately $55,143,068.98. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 529,928 shares of company stock valued at $63,079,091. 11.78% of the stock is currently owned by insiders.

Datadog Price Performance

NASDAQ:DDOG opened at $126.60 on Friday. Datadog, Inc. has a 1-year low of $77.81 and a 1-year high of $138.61. The company has a 50-day moving average of $117.59 and a 200 day moving average of $119.45. The firm has a market cap of $42.35 billion, a PE ratio of 395.63, a price-to-earnings-growth ratio of 22.85 and a beta of 1.11.

Datadog (NASDAQ:DDOG) last released its quarterly earnings data on Thursday, August 8th. The company reported $0.43 earnings per share for the quarter, topping analysts’ consensus estimates of $0.37 by $0.06. The company had revenue of $645.28 million during the quarter, compared to analyst estimates of $624.92 million. Datadog had a net margin of 6.81% and a return on equity of 9.01%. The firm’s revenue for the quarter was up 26.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.36 earnings per share. Sell-side analysts anticipate that Datadog, Inc. will post 0.42 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have recently commented on DDOG shares. Evercore ISI started coverage on shares of Datadog in a report on Monday, July 15th. They issued an “outperform” rating and a $150.00 target price on the stock. Sanford C. Bernstein lowered their target price on shares of Datadog from $157.00 to $151.00 and set an “outperform” rating on the stock in a report on Monday, October 21st. Needham & Company LLC lowered their target price on shares of Datadog from $165.00 to $140.00 and set a “buy” rating on the stock in a report on Friday, August 9th. Mizuho raised shares of Datadog from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $135.00 to $155.00 in a report on Tuesday, July 16th. Finally, Barclays lowered their target price on shares of Datadog from $145.00 to $140.00 and set an “overweight” rating on the stock in a report on Friday, August 9th. One analyst has rated the stock with a sell rating, two have given a hold rating, twenty-six have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $142.54.

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.