Principal Financial Group Inc. Grows Stock Position in Datadog, Inc. (NASDAQ:DDOG)

Principal Financial Group Inc. boosted its stake in Datadog, Inc. (NASDAQ:DDOGGet Rating) by 53.8% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 146,385 shares of the company’s stock after acquiring an additional 51,191 shares during the quarter. Principal Financial Group Inc.’s holdings in Datadog were worth $13,942,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Oppenheimer Asset Management Inc. purchased a new position in Datadog in the 1st quarter worth approximately $210,000. Aviva PLC boosted its holdings in Datadog by 92.2% in the 2nd quarter. Aviva PLC now owns 148,390 shares of the company’s stock worth $14,133,000 after acquiring an additional 71,202 shares during the period. Livforsakringsbolaget Skandia Omsesidigt boosted its holdings in Datadog by 58.3% in the 1st quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,900 shares of the company’s stock worth $288,000 after acquiring an additional 700 shares during the period. Crossmark Global Holdings Inc. boosted its stake in shares of Datadog by 24.6% during the 1st quarter. Crossmark Global Holdings Inc. now owns 1,770 shares of the company’s stock valued at $268,000 after buying an additional 350 shares during the last quarter. Finally, US Bancorp DE boosted its stake in shares of Datadog by 45.7% during the 2nd quarter. US Bancorp DE now owns 15,890 shares of the company’s stock valued at $1,513,000 after buying an additional 4,986 shares during the last quarter. Hedge funds and other institutional investors own 71.98% of the company’s stock.

Insider Activity

In other news, CFO David M. Obstler sold 2,500 shares of the firm’s stock in a transaction on Friday, September 9th. The stock was sold at an average price of $100.25, for a total transaction of $250,625.00. Following the transaction, the chief financial officer now directly owns 200,448 shares of the company’s stock, valued at $20,094,912. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Alexis Le-Quoc sold 71,364 shares of the firm’s stock in a transaction dated Monday, November 14th. The stock was sold at an average price of $78.96, for a total transaction of $5,634,901.44. Following the completion of the transaction, the insider now owns 189,029 shares of the company’s stock, valued at $14,925,729.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO David M. Obstler sold 2,500 shares of the firm’s stock in a transaction dated Friday, September 9th. The shares were sold at an average price of $100.25, for a total value of $250,625.00. Following the transaction, the chief financial officer now directly owns 200,448 shares of the company’s stock, valued at approximately $20,094,912. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 86,506 shares of company stock valued at $7,057,756. Company insiders own 15.80% of the company’s stock.

Analysts Set New Price Targets

DDOG has been the subject of several research analyst reports. The Goldman Sachs Group reduced their target price on Datadog from $188.00 to $162.00 and set a “buy” rating for the company in a research note on Friday, November 4th. Macquarie initiated coverage on Datadog in a research note on Wednesday, November 2nd. They set a “neutral” rating and a $85.00 target price for the company. Credit Suisse Group initiated coverage on Datadog in a research note on Friday, September 23rd. They set an “outperform” rating and a $145.00 target price for the company. KeyCorp increased their target price on Datadog from $91.00 to $95.00 and gave the company an “overweight” rating in a research note on Friday, November 4th. Finally, JPMorgan Chase & Co. initiated coverage on Datadog in a research note on Friday, September 23rd. They set a “neutral” rating on the stock. Five analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $123.23.

Datadog Price Performance

Shares of DDOG opened at $75.31 on Friday. The firm has a market capitalization of $23.92 billion, a price-to-earnings ratio of -1,506.20 and a beta of 1.08. The company has a debt-to-equity ratio of 0.57, a quick ratio of 3.23 and a current ratio of 3.23. Datadog, Inc. has a one year low of $66.45 and a one year high of $187.70. The stock’s fifty day moving average is $82.93 and its 200-day moving average is $94.13.

Datadog (NASDAQ:DDOGGet Rating) last issued its quarterly earnings results on Thursday, November 3rd. The company reported ($0.06) EPS for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.02. The company had revenue of $436.53 million for the quarter, compared to analyst estimates of $412.15 million. Datadog had a positive return on equity of 0.60% and a negative net margin of 0.91%. Equities analysts anticipate that Datadog, Inc. will post -0.1 EPS for the current year.

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.

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Institutional Ownership by Quarter for Datadog (NASDAQ:DDOG)

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