Covea Finance Raises Position in Datadog, Inc. (NASDAQ:DDOG)

Covea Finance grew its position in Datadog, Inc. (NASDAQ:DDOG) by 44.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 29,400 shares of the company’s stock after acquiring an additional 9,100 shares during the quarter. Covea Finance’s holdings in Datadog were worth $3,383,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in DDOG. Kodai Capital Management LP bought a new stake in Datadog during the 1st quarter valued at $116,054,000. DNB Asset Management AS increased its position in Datadog by 1,974.5% during the 2nd quarter. DNB Asset Management AS now owns 847,600 shares of the company’s stock valued at $109,925,000 after purchasing an additional 806,741 shares during the period. Thrivent Financial for Lutherans boosted its position in Datadog by 1,597.9% during the 2nd quarter. Thrivent Financial for Lutherans now owns 785,261 shares of the company’s stock valued at $101,841,000 after acquiring an additional 739,011 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Datadog by 2.8% in the 4th quarter. Vanguard Group Inc. now owns 27,259,414 shares of the company’s stock worth $3,308,748,000 after acquiring an additional 734,539 shares in the last quarter. Finally, Bank of Montreal Can lifted its stake in shares of Datadog by 129.2% during the 2nd quarter. Bank of Montreal Can now owns 610,977 shares of the company’s stock worth $79,384,000 after purchasing an additional 344,431 shares during the last quarter. 78.29% of the stock is owned by hedge funds and other institutional investors.

Datadog Trading Down 0.2 %

NASDAQ DDOG traded down $0.28 on Friday, reaching $129.81. 2,651,464 shares of the company were exchanged, compared to its average volume of 3,830,093. Datadog, Inc. has a fifty-two week low of $77.81 and a fifty-two week high of $138.61. The stock has a market capitalization of $43.77 billion, a P/E ratio of 288.47, a price-to-earnings-growth ratio of 22.85 and a beta of 1.11. The business’s fifty day moving average price is $114.75 and its 200 day moving average price is $119.32.

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

Insider Activity at Datadog

In other Datadog news, CFO David M. Obstler sold 33,333 shares of the stock in a transaction that occurred on Tuesday, October 8th. The shares were sold at an average price of $125.70, for a total transaction of $4,189,958.10. Following the sale, the chief financial officer now directly owns 314,158 shares in the company, valued at $39,489,660.60. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, CFO David M. Obstler sold 33,333 shares of the company’s stock in a transaction that occurred on Tuesday, October 8th. The shares were sold at an average price of $125.70, for a total transaction of $4,189,958.10. Following the sale, the chief financial officer now directly owns 314,158 shares in the company, valued at approximately $39,489,660.60. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Olivier Pomel sold 85,637 shares of the firm’s stock in a transaction that occurred on 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 in the company, valued at approximately $42,237,771.94. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 361,574 shares of company stock worth $41,291,591. Insiders own 11.78% of the company’s stock.

Wall Street Analysts Forecast Growth

DDOG has been the subject of a number of recent research reports. Monness Crespi & Hardt upgraded shares of Datadog from a “sell” rating to a “neutral” rating in a report on Wednesday, August 7th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $151.00 price target on shares of Datadog in a research report on Friday, August 9th. DA Davidson upgraded Datadog from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $115.00 to $140.00 in a research note on Tuesday, October 1st. BMO Capital Markets decreased their price target on Datadog from $140.00 to $132.00 and set an “outperform” rating for the company in a research note on Friday, August 9th. Finally, Scotiabank dropped their price target on Datadog from $145.00 to $135.00 and set a “sector outperform” rating on the stock in a research note on Friday, August 9th. Four research analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $141.19.

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.