Linden Advisors LP Makes New $18.59 Million Investment in Datadog, Inc. (NASDAQ:DDOG)

Linden Advisors LP purchased a new stake in Datadog, Inc. (NASDAQ:DDOG - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 130,081 shares of the company's stock, valued at approximately $18,587,000.

Several other hedge funds have also recently bought and sold shares of the business. Vanguard Group Inc. grew its position in shares of Datadog by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 30,354,229 shares of the company's stock worth $4,337,316,000 after buying an additional 220,527 shares in the last quarter. Baillie Gifford & Co. boosted its holdings in Datadog by 15.8% in the fourth quarter. Baillie Gifford & Co. now owns 10,905,133 shares of the company's stock worth $1,558,234,000 after purchasing an additional 1,484,562 shares during the period. Jennison Associates LLC boosted its holdings in Datadog by 47.9% in the fourth quarter. Jennison Associates LLC now owns 9,278,648 shares of the company's stock worth $1,325,826,000 after purchasing an additional 3,005,300 shares during the period. Groupama Asset Managment boosted its holdings in Datadog by 407.6% in the fourth quarter. Groupama Asset Managment now owns 6,600,000 shares of the company's stock worth $943,074,000 after purchasing an additional 5,299,688 shares during the period. Finally, Geode Capital Management LLC boosted its holdings in Datadog by 9.6% in the fourth quarter. Geode Capital Management LLC now owns 5,684,612 shares of the company's stock worth $811,076,000 after purchasing an additional 499,055 shares during the period. Hedge funds and other institutional investors own 78.29% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have commented on DDOG shares. Citigroup decreased their price objective on shares of Datadog from $170.00 to $165.00 and set a "buy" rating for the company in a report on Friday, February 14th. Royal Bank of Canada reiterated an "outperform" rating and issued a $119.00 target price on shares of Datadog in a research note on Wednesday, May 7th. Wells Fargo & Company cut their target price on Datadog from $140.00 to $115.00 and set an "equal weight" rating on the stock in a research note on Wednesday, May 7th. Morgan Stanley cut their target price on Datadog from $143.00 to $115.00 and set an "equal weight" rating on the stock in a research note on Wednesday, April 16th. Finally, Stifel Nicolaus set a $120.00 target price on Datadog in a research note on Tuesday, May 6th. Seven investment analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company's stock. Based on data from MarketBeat, Datadog currently has a consensus rating of "Moderate Buy" and a consensus price target of $141.54.

Datadog Stock Performance

NASDAQ:DDOG traded up $0.53 during mid-day trading on Friday, hitting $117.67. The company had a trading volume of 3,138,469 shares, compared to its average volume of 4,359,271. The firm has a market cap of $40.33 billion, a P/E ratio of 230.73, a P/E/G ratio of 44.03 and a beta of 1.12. The business's fifty day moving average is $101.10 and its two-hundred day moving average is $125.52. Datadog, Inc. has a fifty-two week low of $81.63 and a fifty-two week high of $170.08.

Datadog (NASDAQ:DDOG - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The company reported $0.46 earnings per share for the quarter, beating the consensus estimate of $0.42 by $0.04. Datadog had a return on equity of 8.28% and a net margin of 6.85%. The business had revenue of $761.55 million for the quarter, compared to analysts' expectations of $741.73 million. During the same quarter in the previous year, the business posted $0.44 EPS. Datadog's revenue for the quarter was up 24.6% on a year-over-year basis. Equities analysts forecast that Datadog, Inc. will post 0.34 earnings per share for the current year.

Insider Activity

In other news, CRO Sean Michael Walters sold 8,454 shares of Datadog stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $102.04, for a total transaction of $862,646.16. Following the completion of the transaction, the executive now directly owns 185,871 shares in the company, valued at approximately $18,966,276.84. The trade was a 4.35% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Amit Agarwal sold 25,000 shares of Datadog stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $114.21, for a total value of $2,855,250.00. Following the transaction, the director now owns 82,324 shares of the company's stock, valued at $9,402,224.04. This represents a 23.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 584,867 shares of company stock worth $60,517,652 in the last 90 days. Corporate insiders own 11.78% of the company's stock.

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.