Mirae Asset Global Investments Co. Ltd. Acquires 21,708 Shares of Datadog, Inc. (NASDAQ:DDOG)

Mirae Asset Global Investments Co. Ltd. lifted its stake in Datadog, Inc. (NASDAQ:DDOG) by 8.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 272,811 shares of the company’s stock after purchasing an additional 21,708 shares during the period. Mirae Asset Global Investments Co. Ltd. owned about 0.08% of Datadog worth $26,839,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in DDOG. Lindbrook Capital LLC raised its holdings in shares of Datadog by 167.5% in the second quarter. Lindbrook Capital LLC now owns 329 shares of the company’s stock valued at $32,000 after acquiring an additional 206 shares in the last quarter. Allworth Financial LP lifted its position in shares of Datadog by 493.0% in the 2nd quarter. Allworth Financial LP now owns 338 shares of the company’s stock worth $33,000 after purchasing an additional 281 shares during the period. Ogorek Anthony Joseph NY ADV boosted its stake in shares of Datadog by 381.0% during the first quarter. Ogorek Anthony Joseph NY ADV now owns 481 shares of the company’s stock valued at $34,000 after purchasing an additional 381 shares in the last quarter. Exos TFP Holdings LLC increased its holdings in Datadog by 270.0% during the first quarter. Exos TFP Holdings LLC now owns 481 shares of the company’s stock valued at $35,000 after buying an additional 351 shares during the period. Finally, Manchester Capital Management LLC bought a new position in Datadog in the first quarter worth approximately $37,000. Hedge funds and other institutional investors own 68.30% of the company’s stock.

Datadog Trading Up 2.0 %

DDOG stock opened at $111.77 on Tuesday. Datadog, Inc. has a 12-month low of $61.34 and a 12-month high of $118.02. The business’s 50-day moving average is $91.79 and its 200 day moving average is $95.41. The company has a current ratio of 3.35, a quick ratio of 3.35 and a debt-to-equity ratio of 0.41. The stock has a market cap of $36.72 billion, a price-to-earnings ratio of -931.42, a PEG ratio of 35.32 and a beta of 1.02.

Insider Activity

In other Datadog news, CFO David M. Obstler sold 10,000 shares of Datadog 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 sale, the chief financial officer now owns 260,617 shares of the company’s stock, valued at approximately $28,243,064.29. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Datadog news, CFO David M. Obstler sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 14th. The shares were sold at an average price of $108.37, for a total value of $1,083,700.00. Following the transaction, the chief financial officer now directly owns 260,617 shares of the company’s stock, valued at approximately $28,243,064.29. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Kerry Acocella sold 1,399 shares of the company’s stock in a transaction that occurred on Tuesday, September 5th. The shares were sold at an average price of $96.25, for a total value of $134,653.75. Following the completion of the sale, the general counsel now owns 68,499 shares of the company’s stock, valued at $6,593,028.75. The disclosure for this sale can be found here. Insiders have sold a total of 664,822 shares of company stock worth $62,707,683 over the last quarter. 14.97% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages recently weighed in on DDOG. Royal Bank of Canada upped their price objective on Datadog from $103.00 to $120.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 8th. Robert W. Baird cut shares of Datadog from a “neutral” rating to an “underperform” rating and decreased their target price for the company from $100.00 to $84.00 in a research report on Monday, October 30th. Sanford C. Bernstein lifted their price target on shares of Datadog from $127.00 to $133.00 and gave the stock an “outperform” rating in a report on Wednesday, August 16th. William Blair reiterated an “outperform” rating on shares of Datadog in a report on Wednesday, November 8th. Finally, Wells Fargo & Company downgraded Datadog from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $120.00 to $95.00 in a research note on Friday, October 27th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and twenty-one have assigned a buy rating to the company. Based on data from MarketBeat, Datadog has a consensus rating of “Moderate Buy” and a consensus target price of $109.17.

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.