Zurich Insurance Group Ltd FI Takes Position in Datadog, Inc. (NASDAQ:DDOG)

Zurich Insurance Group Ltd FI purchased a new stake in shares of Datadog, Inc. (NASDAQ:DDOG) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 291,274 shares of the company’s stock, valued at approximately $41,620,000.

Several other large investors have also recently modified their holdings of the business. Vident Advisory LLC raised its stake in shares of Datadog by 79.0% during the fourth quarter. Vident Advisory LLC now owns 47,983 shares of the company’s stock valued at $6,856,000 after acquiring an additional 21,171 shares during the last quarter. Temasek Holdings Private Ltd bought a new position in shares of Datadog during the fourth quarter valued at $2,270,000. Tidal Investments LLC raised its stake in shares of Datadog by 103.1% during the fourth quarter. Tidal Investments LLC now owns 57,453 shares of the company’s stock valued at $8,209,000 after acquiring an additional 29,158 shares during the last quarter. TrinityPoint Wealth LLC bought a new position in shares of Datadog during the fourth quarter valued at $242,000. Finally, State of Wyoming raised its stake in shares of Datadog by 3.7% during the fourth quarter. State of Wyoming now owns 3,277 shares of the company’s stock valued at $468,000 after acquiring an additional 117 shares during the last quarter. Institutional investors own 78.29% of the company’s stock.

Datadog Price Performance

Shares of NASDAQ DDOG opened at $116.46 on Tuesday. The stock has a market capitalization of $40.22 billion, a P/E ratio of 228.36, a P/E/G ratio of 44.03 and a beta of 1.12. The company has a 50-day moving average price of $101.39 and a 200-day moving average price of $125.45. Datadog, Inc. has a 1 year low of $81.63 and a 1 year high of $170.08.

Datadog (NASDAQ:DDOG) last issued its quarterly earnings data on Tuesday, May 6th. The company reported $0.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.42 by $0.04. The firm had revenue of $761.55 million during the quarter, compared to analysts’ expectations of $741.73 million. Datadog had a net margin of 6.85% and a return on equity of 8.28%. The business’s revenue was up 24.6% on a year-over-year basis. During the same period last year, the company earned $0.44 earnings per share. As a group, equities research analysts anticipate that Datadog, Inc. will post 0.34 earnings per share for the current fiscal year.

Insider Activity

In related news, CRO Sean Michael Walters sold 8,454 shares of the firm’s stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $102.04, for a total transaction of $862,646.16. Following the transaction, the executive now directly owns 185,871 shares of the company’s stock, valued at $18,966,276.84. This trade represents a 4.35% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Olivier Pomel sold 107,365 shares of the firm’s stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $109.56, for a total transaction of $11,762,909.40. Following the transaction, the chief executive officer now directly owns 435,793 shares in the company, valued at $47,745,481.08. The trade was a 19.77% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 584,867 shares of company stock worth $60,517,652 over the last three months. 11.78% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. Stifel Nicolaus set a $120.00 price target on shares of Datadog in a research note on Tuesday, May 6th. Truist Financial lowered their target price on shares of Datadog from $140.00 to $120.00 and set a “hold” rating for the company in a research note on Monday, March 31st. BTIG Research set a $136.00 target price on shares of Datadog and gave the stock a “buy” rating in a research note on Tuesday, May 6th. Wolfe Research downgraded shares of Datadog from an “outperform” rating to a “peer perform” rating in a research note on Tuesday, February 18th. Finally, Citigroup lowered their target price on shares of Datadog from $170.00 to $165.00 and set a “buy” rating for the company in a research note on Friday, February 14th. Seven analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $141.54.

Datadog Company 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.