Swiss National Bank Has $96.49 Million Position in Datadog, Inc. (NASDAQ:DDOG)

Swiss National Bank cut its holdings in shares of Datadog, Inc. (NASDAQ:DDOG) by 1.9% during the 4th quarter, Holdings Channel reports. The institutional investor owned 794,900 shares of the company’s stock after selling 15,100 shares during the quarter. Swiss National Bank’s holdings in Datadog were worth $96,485,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Cambridge Investment Research Advisors Inc. lifted its holdings in shares of Datadog by 96.4% during the third quarter. Cambridge Investment Research Advisors Inc. now owns 33,433 shares of the company’s stock worth $3,045,000 after purchasing an additional 16,410 shares during the period. Raymond James Financial Services Advisors Inc. lifted its holdings in Datadog by 5.6% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 46,731 shares of the company’s stock worth $4,257,000 after buying an additional 2,462 shares during the period. Stratos Wealth Partners LTD. bought a new stake in shares of Datadog in the 3rd quarter valued at about $363,000. Bank of New York Mellon Corp increased its stake in shares of Datadog by 2.5% in the third quarter. Bank of New York Mellon Corp now owns 1,378,534 shares of the company’s stock valued at $125,571,000 after buying an additional 33,748 shares during the period. Finally, Forsta AP Fonden raised its position in shares of Datadog by 1.4% during the third quarter. Forsta AP Fonden now owns 51,100 shares of the company’s stock worth $4,655,000 after acquiring an additional 700 shares during the last quarter. 78.29% of the stock is currently owned by institutional investors and hedge funds.

Datadog Price Performance

DDOG stock opened at $124.27 on Friday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 3.17 and a current ratio of 3.17. The business has a 50-day simple moving average of $124.99 and a two-hundred day simple moving average of $118.29. The company has a market capitalization of $41.24 billion, a P/E ratio of 1,035.58 and a beta of 1.14. Datadog, Inc. has a 52-week low of $70.00 and a 52-week high of $138.61.

Datadog (NASDAQ:DDOG) last posted its earnings results on Tuesday, February 13th. The company reported $0.44 earnings per share for the quarter, beating analysts’ consensus estimates of $0.43 by $0.01. Datadog had a return on equity of 3.79% and a net margin of 2.28%. The company had revenue of $589.65 million for the quarter, compared to analyst estimates of $568.73 million. During the same quarter last year, the company earned ($0.08) earnings per share. The company’s revenue for the quarter was up 25.6% on a year-over-year basis. Research analysts expect that Datadog, Inc. will post -0.14 EPS for the current fiscal year.

Analyst Ratings Changes

DDOG has been the subject of a number of recent analyst reports. Barclays increased their target price on shares of Datadog from $138.00 to $152.00 and gave the company an “overweight” rating in a research report on Wednesday, February 14th. Royal Bank of Canada increased their price objective on shares of Datadog from $145.00 to $151.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 14th. Wells Fargo & Company upgraded shares of Datadog from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $130.00 to $150.00 in a report on Tuesday, April 23rd. Mizuho upped their price target on shares of Datadog from $108.00 to $130.00 and gave the company a “neutral” rating in a research report on Wednesday, February 14th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $150.00 price objective on shares of Datadog in a research report on Wednesday, April 17th. Five investment analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $133.31.

Insiders Place Their Bets

In other Datadog news, President Amit Agarwal sold 33,311 shares of the company’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $128.58, for a total value of $4,283,128.38. Following the completion of the sale, the president now directly owns 294,012 shares of the company’s stock, valued at approximately $37,804,062.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CEO Olivier Pomel sold 23,924 shares of the firm’s stock in a transaction on Tuesday, April 23rd. The stock was sold at an average price of $130.05, for a total transaction of $3,111,316.20. Following the completion of the sale, the chief executive officer now directly owns 337,247 shares of the company’s stock, valued at approximately $43,858,972.35. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, President Amit Agarwal sold 33,311 shares of the business’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $128.58, for a total transaction of $4,283,128.38. Following the completion of the transaction, the president now directly owns 294,012 shares in the company, valued at $37,804,062.96. The disclosure for this sale can be found here. Insiders have sold 759,908 shares of company stock valued at $97,728,997 in the last three months. 11.78% of the stock is currently owned by insiders.

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.