Artemis Investment Management LLP Invests $20.27 Million in Datadog, Inc. (NASDAQ:DDOG)

Artemis Investment Management LLP purchased a new position in shares of Datadog, Inc. (NASDAQ:DDOG) during the 1st quarter, Holdings Channel reports. The institutional investor purchased 164,041 shares of the company’s stock, valued at approximately $20,265,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Spire Wealth Management boosted its stake in shares of Datadog by 2,148.5% during the 4th quarter. Spire Wealth Management now owns 5,329 shares of the company’s stock worth $694,000 after acquiring an additional 5,092 shares during the last quarter. Hsbc Holdings PLC lifted its stake in shares of Datadog by 47.8% during the 4th quarter. Hsbc Holdings PLC now owns 193,390 shares of the company’s stock valued at $23,505,000 after buying an additional 62,533 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its stake in shares of Datadog by 31.3% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 2,733,448 shares of the company’s stock valued at $331,786,000 after buying an additional 651,244 shares in the last quarter. Congress Asset Management Co. MA purchased a new position in shares of Datadog during the 1st quarter valued at $1,083,000. Finally, Zevenbergen Capital Investments LLC lifted its stake in shares of Datadog by 5.6% during the 4th quarter. Zevenbergen Capital Investments LLC now owns 165,405 shares of the company’s stock valued at $20,077,000 after buying an additional 8,830 shares in the last quarter. Hedge funds and other institutional investors own 78.29% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Needham & Company LLC restated a “buy” rating and set a $165.00 target price on shares of Datadog in a research note on Thursday. Wedbush restated an “outperform” rating and set a $155.00 target price on shares of Datadog in a research note on Wednesday. Robert W. Baird upgraded shares of Datadog from a “neutral” rating to an “outperform” rating and lifted their target price for the company from $130.00 to $140.00 in a research note on Wednesday, May 8th. Rosenblatt Securities restated a “buy” rating and set a $146.00 target price on shares of Datadog in a research note on Monday, May 6th. Finally, Monness Crespi & Hardt restated a “sell” rating and set a $98.00 target price (down previously from $290.00) on shares of Datadog in a research note on Friday, June 14th. One analyst has rated the stock with a sell rating, four have issued a hold rating, twenty-five have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Datadog has a consensus rating of “Moderate Buy” and an average price target of $136.04.

Insider Activity at Datadog

In related news, insider Madre Armelle De sold 600 shares of the company’s stock in a transaction dated Monday, April 8th. The shares were sold at an average price of $125.34, for a total transaction of $75,204.00. Following the transaction, the insider now directly owns 100,353 shares in the company, valued at approximately $12,578,245.02. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Olivier Pomel sold 98,690 shares of the company’s stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $109.16, for a total transaction of $10,773,000.40. Following the transaction, the chief executive officer now directly owns 324,539 shares in the company, valued at approximately $35,426,677.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Madre Armelle De sold 600 shares of the company’s stock in a transaction dated Monday, April 8th. The shares were sold at an average price of $125.34, for a total transaction of $75,204.00. Following the transaction, the insider now owns 100,353 shares in the company, valued at $12,578,245.02. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 702,037 shares of company stock worth $82,731,018. Insiders own 11.78% of the company’s stock.

Datadog Stock Performance

Datadog stock opened at $129.69 on Friday. The company’s 50-day moving average price is $119.81 and its 200-day moving average price is $123.11. Datadog, Inc. has a twelve month low of $77.81 and a twelve month high of $138.61. The company has a quick ratio of 3.43, a current ratio of 3.43 and a debt-to-equity ratio of 0.34. The company has a market cap of $43.38 billion, a PE ratio of 405.28, a price-to-earnings-growth ratio of 40.56 and a beta of 1.09.

Datadog (NASDAQ:DDOG) last posted its earnings results on Tuesday, May 7th. The company reported $0.16 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.20. Datadog had a net margin of 5.11% and a return on equity of 7.48%. The firm had revenue of $611.25 million for the quarter, compared to the consensus estimate of $589.97 million. On average, equities research analysts forecast that Datadog, Inc. will post 0.32 EPS for the current fiscal year.

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.