Itau Unibanco Holding S.A. Makes New Investment in Datadog, Inc. (NASDAQ:DDOG)

Itau Unibanco Holding S.A. acquired a new stake in shares of Datadog, Inc. (NASDAQ:DDOG) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 22,507 shares of the company’s stock, valued at approximately $2,919,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of DDOG. Dimensional Fund Advisors LP grew its position in Datadog by 12.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 254,076 shares of the company’s stock worth $30,842,000 after acquiring an additional 28,394 shares during the last quarter. Janney Montgomery Scott LLC grew its holdings in shares of Datadog by 373.4% in the fourth quarter. Janney Montgomery Scott LLC now owns 11,172 shares of the company’s stock worth $1,356,000 after purchasing an additional 8,812 shares during the last quarter. Coldstream Capital Management Inc. purchased a new position in shares of Datadog in the fourth quarter worth $334,000. Corient Private Wealth LLC raised its holdings in Datadog by 4.9% during the 4th quarter. Corient Private Wealth LLC now owns 10,266 shares of the company’s stock valued at $1,246,000 after buying an additional 484 shares during the last quarter. Finally, Quest Partners LLC purchased a new stake in Datadog during the 4th quarter valued at $36,000. 78.29% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, CEO Olivier Pomel sold 200,993 shares of the firm’s stock in a transaction dated Monday, July 8th. The shares were sold at an average price of $131.01, for a total transaction of $26,332,092.93. Following the sale, the chief executive officer now owns 324,539 shares of the company’s stock, valued at approximately $42,517,854.39. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Datadog news, Director Matthew Jacobson sold 9,256 shares of the company’s stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $108.05, for a total transaction of $1,000,110.80. Following the completion of the sale, the director now directly owns 48,411 shares of the company’s stock, valued at $5,230,808.55. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Olivier Pomel sold 200,993 shares of the firm’s stock in a transaction on Monday, July 8th. The stock was sold at an average price of $131.01, for a total value of $26,332,092.93. Following the completion of the transaction, the chief executive officer now directly owns 324,539 shares in the company, valued at $42,517,854.39. The disclosure for this sale can be found here. In the last ninety days, insiders sold 561,997 shares of company stock worth $68,517,631. 11.78% of the stock is owned by corporate insiders.

Datadog Stock Down 0.7 %

NASDAQ:DDOG opened at $114.76 on Friday. The stock has a market cap of $38.39 billion, a price-to-earnings ratio of 358.63, a PEG ratio of 27.84 and a beta of 1.11. The company’s 50 day moving average price is $114.64 and its 200-day moving average price is $119.60. Datadog, Inc. has a 52 week low of $77.81 and a 52 week high of $138.61.

Datadog (NASDAQ:DDOG) last issued its earnings results on Thursday, August 8th. The company reported $0.43 EPS for the quarter, beating the consensus estimate of $0.37 by $0.06. Datadog had a return on equity of 9.01% and a net margin of 6.81%. The business had revenue of $645.28 million for the quarter, compared to the consensus estimate of $624.92 million. During the same period last year, the business posted $0.36 EPS. The company’s revenue was up 26.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that Datadog, Inc. will post 0.41 earnings per share for the current year.

Analyst Ratings Changes

DDOG has been the topic of a number of analyst reports. Wedbush restated an “outperform” rating and issued a $155.00 price objective on shares of Datadog in a research report on Friday, August 9th. Bank of America raised Datadog from a “neutral” rating to a “buy” rating and upped their price target for the company from $143.00 to $155.00 in a research report on Thursday, May 30th. Needham & Company LLC cut their price objective on Datadog from $165.00 to $140.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. BMO Capital Markets decreased their target price on Datadog from $140.00 to $132.00 and set an “outperform” rating for the company in a report on Friday, August 9th. Finally, Evercore ISI initiated coverage on shares of Datadog in a report on Monday, July 15th. They issued an “outperform” rating and a $150.00 price target on the stock. Four research analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Datadog currently has an average rating of “Moderate Buy” and an average target price of $139.88.

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.