CIBC Asset Management Inc Purchases 2,132 Shares of Datadog, Inc. (NASDAQ:DDOG)

CIBC Asset Management Inc boosted its holdings in shares of Datadog, Inc. (NASDAQ:DDOG – Get Rating) by 5.1% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 43,680 shares of the company’s stock after buying an additional 2,132 shares during the period. CIBC Asset Management Inc’s holdings in Datadog were worth $6,616,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. UMB Bank N A MO bought a new stake in Datadog during the fourth quarter valued at $25,000. Optimum Investment Advisors bought a new stake in Datadog during the fourth quarter valued at $27,000. Retirement Planning Co of New England Inc. bought a new stake in Datadog during the fourth quarter valued at $27,000. Riverview Trust Co bought a new stake in Datadog during the first quarter valued at $27,000. Finally, SJS Investment Consulting Inc. bought a new stake in Datadog during the first quarter worth about $27,000. Institutional investors own 65.17% of the company’s stock.

Datadog Stock Performance

Shares of NASDAQ:DDOG opened at $110.49 on Friday. Datadog, Inc. has a 1 year low of $81.12 and a 1 year high of $199.68. The company has a debt-to-equity ratio of 0.66, a quick ratio of 3.33 and a current ratio of 3.33. The stock’s 50-day moving average is $98.51 and its 200 day moving average is $121.80.

Datadog (NASDAQ:DDOG – Get Rating) last announced its quarterly earnings results on Thursday, August 4th. The company reported $0.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.14 by $0.10. Datadog had a return on equity of 1.53% and a net margin of 0.17%. The company had revenue of $406.14 million for the quarter, compared to the consensus estimate of $381.28 million. During the same quarter in the previous year, the business earned ($0.02) EPS. Datadog’s revenue was up 73.9% compared to the same quarter last year. On average, analysts anticipate that Datadog, Inc. will post -0.14 EPS for the current fiscal year.

Insider Activity at Datadog

In other Datadog news, Director Shardul Shah sold 16,487 shares of the company’s stock in a transaction that occurred on Monday, May 9th. The stock was sold at an average price of $99.49, for a total transaction of $1,640,291.63. Following the transaction, the director now owns 440,523 shares in the company, valued at approximately $43,827,633.27. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Datadog news, Director Shardul Shah sold 16,487 shares of the company’s stock in a transaction that occurred on Monday, May 9th. The stock was sold at an average price of $99.49, for a total transaction of $1,640,291.63. Following the transaction, the director now owns 440,523 shares in the company, valued at approximately $43,827,633.27. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Madre Armelle De sold 3,750 shares of the company’s stock in a transaction that occurred on Monday, August 1st. The stock was sold at an average price of $99.92, for a total value of $374,700.00. Following the transaction, the insider now owns 67,804 shares in the company, valued at approximately $6,774,975.68. The disclosure for this sale can be found here. Insiders have sold a total of 120,207 shares of company stock worth $12,158,942 in the last 90 days. Company insiders own 15.80% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on DDOG shares. Jefferies Financial Group dropped their price target on Datadog from $170.00 to $125.00 in a research note on Monday, May 23rd. Rosenblatt Securities dropped their price target on Datadog from $180.00 to $146.00 and set a “buy” rating for the company in a research note on Friday, July 29th. Mizuho dropped their price target on Datadog from $175.00 to $150.00 and set a “buy” rating for the company in a research note on Tuesday, July 19th. Sanford C. Bernstein started coverage on Datadog in a research note on Tuesday, July 19th. They set an “outperform” rating and a $172.00 price target for the company. Finally, Barclays dropped their price target on Datadog from $210.00 to $190.00 and set an “overweight” rating for the company in a research note on Tuesday, April 19th. Six equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat, Datadog presently has a consensus rating of “Moderate Buy” and an average target price of $168.05.

About Datadog

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Datadog, Inc provides monitoring and analytics platform for developers, information technology operations teams, and business users in the cloud in North America and internationally. The company's SaaS platform integrates and automates infrastructure monitoring, application performance monitoring, log management, and security monitoring to provide real-time observability of its customers technology stack.