Rakuten Securities Inc. Buys New Holdings in Datadog, Inc. (NASDAQ:DDOG)

Rakuten Securities Inc. acquired a new position in shares of Datadog, Inc. (NASDAQ:DDOG) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 3,799 shares of the company’s stock, valued at approximately $461,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of DDOG. Vanguard Group Inc. grew its holdings in shares of Datadog by 4.7% during the third quarter. Vanguard Group Inc. now owns 26,524,875 shares of the company’s stock valued at $2,416,151,000 after purchasing an additional 1,191,742 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of Datadog by 10.3% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 9,985,810 shares of the company’s stock valued at $733,957,000 after acquiring an additional 929,566 shares during the last quarter. Sands Capital Management LLC lifted its position in shares of Datadog by 12.5% during the 2nd quarter. Sands Capital Management LLC now owns 4,554,589 shares of the company’s stock valued at $448,080,000 after acquiring an additional 505,196 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Datadog by 3.2% during the 1st quarter. Geode Capital Management LLC now owns 3,610,972 shares of the company’s stock valued at $262,001,000 after acquiring an additional 111,651 shares during the last quarter. Finally, Norges Bank acquired a new stake in Datadog during the 4th quarter valued at $202,877,000. Institutional investors and hedge funds own 78.29% of the company’s stock.

Datadog Price Performance

NASDAQ:DDOG traded down $2.12 during mid-day trading on Wednesday, hitting $124.83. The company’s stock had a trading volume of 1,605,891 shares, compared to its average volume of 4,057,414. Datadog, Inc. has a fifty-two week low of $62.60 and a fifty-two week high of $138.61. The company has a current ratio of 3.17, a quick ratio of 3.17 and a debt-to-equity ratio of 0.37. The company has a market capitalization of $41.43 billion, a price-to-earnings ratio of 1,057.92 and a beta of 1.15. The stock has a fifty day moving average of $126.45 and a 200-day moving average of $115.43.

Datadog (NASDAQ:DDOG) last posted its quarterly earnings results on Tuesday, February 13th. The company reported $0.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.43 by $0.01. The firm had revenue of $589.65 million during the quarter, compared to analyst estimates of $568.73 million. Datadog had a net margin of 2.28% and a return on equity of 3.79%. The company’s quarterly revenue was up 25.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.08) earnings per share. As a group, equities analysts forecast that Datadog, Inc. will post -0.14 EPS for the current fiscal year.

Analyst Ratings Changes

DDOG has been the topic of a number of research reports. Citigroup upped their price target on shares of Datadog from $125.00 to $150.00 and gave the stock a “buy” rating in a research note on Monday, January 22nd. BMO Capital Markets reissued an “outperform” rating and set a $155.00 target price (up from $140.00) on shares of Datadog in a research report on Wednesday, February 14th. Wolfe Research increased their target price on shares of Datadog from $140.00 to $150.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 14th. Mizuho increased their target price on shares of Datadog from $108.00 to $130.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 14th. Finally, Needham & Company LLC upped their price target on shares of Datadog from $125.00 to $165.00 and gave the company a “buy” rating in a report on Tuesday, February 13th. Six research analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $130.33.

Insider Transactions at Datadog

In other news, CEO Olivier Pomel sold 133,315 shares of the firm’s stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $129.82, for a total transaction of $17,306,953.30. Following the completion of the sale, the chief executive officer now owns 299,075 shares of the company’s stock, valued at $38,825,916.50. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other Datadog news, CEO Olivier Pomel sold 133,315 shares of the firm’s stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $129.82, for a total value of $17,306,953.30. Following the transaction, the chief executive officer now directly owns 299,075 shares of the company’s stock, valued at $38,825,916.50. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Madre Armelle De sold 600 shares of the firm’s stock in a transaction that occurred on Monday, April 8th. The shares were sold at an average price of $125.34, for a total transaction of $75,204.00. Following the completion of the transaction, the insider now directly owns 100,353 shares in the company, valued at $12,578,245.02. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 745,984 shares of company stock valued at $95,917,681. Corporate insiders own 14.97% of the company’s stock.

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.