Resona Asset Management Co. Ltd. Buys 6,762 Shares of Datadog, Inc. $DDOG

Resona Asset Management Co. Ltd. grew its stake in Datadog, Inc. (NASDAQ:DDOG) by 7.8% in the second quarter, HoldingsChannel.com reports. The fund owned 93,408 shares of the company’s stock after acquiring an additional 6,762 shares during the period. Resona Asset Management Co. Ltd.’s holdings in Datadog were worth $12,516,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of DDOG. OVERSEA CHINESE BANKING Corp Ltd grew its holdings in Datadog by 887.0% during the first quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 25,199 shares of the company’s stock valued at $25,000 after purchasing an additional 22,646 shares during the period. Cornerstone Planning Group LLC raised its holdings in Datadog by 96.9% in the first quarter. Cornerstone Planning Group LLC now owns 313 shares of the company’s stock worth $30,000 after purchasing an additional 154 shares during the period. Costello Asset Management INC bought a new position in shares of Datadog during the first quarter worth $30,000. Interchange Capital Partners LLC bought a new position in shares of Datadog during the second quarter worth $42,000. Finally, Ameritas Advisory Services LLC acquired a new position in shares of Datadog in the 2nd quarter valued at $55,000. 78.29% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently commented on DDOG shares. Royal Bank Of Canada raised their price objective on Datadog from $182.00 to $216.00 and gave the stock an “outperform” rating in a research note on Friday. Jefferies Financial Group raised their price target on Datadog from $190.00 to $220.00 and gave the stock a “buy” rating in a research report on Thursday. TD Cowen lifted their price objective on Datadog from $175.00 to $180.00 and gave the company a “buy” rating in a report on Friday, October 17th. Guggenheim set a $105.00 price objective on shares of Datadog in a research report on Thursday. Finally, Raymond James Financial raised their price objective on shares of Datadog from $170.00 to $205.00 in a report on Thursday. Twenty-nine equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $198.94.

Datadog Price Performance

Shares of NASDAQ DDOG opened at $191.24 on Friday. The stock has a market capitalization of $66.69 billion, a price-to-earnings ratio of 616.90, a PEG ratio of 74.66 and a beta of 1.20. The business has a 50-day moving average of $149.87 and a 200-day moving average of $134.62. The company has a debt-to-equity ratio of 0.29, a current ratio of 3.66 and a quick ratio of 3.43. Datadog, Inc. has a fifty-two week low of $81.63 and a fifty-two week high of $194.87.

Datadog (NASDAQ:DDOG) last released its earnings results on Thursday, November 6th. The company reported $0.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.45 by $0.10. The business had revenue of $885.65 million for the quarter, compared to analyst estimates of $852.77 million. Datadog had a return on equity of 4.14% and a net margin of 3.32%.Datadog’s revenue was up 28.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.46 earnings per share. Datadog has set its FY 2025 guidance at 2.000-2.020 EPS. Q4 2025 guidance at 0.54-0.56 EPS. As a group, sell-side analysts predict that Datadog, Inc. will post 0.34 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Michael James Callahan sold 8,333 shares of Datadog stock in a transaction dated Tuesday, October 14th. The shares were sold at an average price of $160.55, for a total value of $1,337,863.15. Following the completion of the transaction, the director owned 12,496 shares of the company’s stock, valued at $2,006,232.80. This trade represents a 40.01% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CTO Alexis Le-Quoc sold 41,468 shares of the company’s stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $150.94, for a total transaction of $6,259,179.92. Following the completion of the sale, the chief technology officer directly owned 438,885 shares in the company, valued at approximately $66,245,301.90. The trade was a 8.63% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 1,510,236 shares of company stock worth $207,339,763 in the last quarter. 8.70% of the stock is owned by company insiders.

About Datadog

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.