Driehaus Capital Management LLC Makes New Investment in Datadog, Inc. (NASDAQ:DDOG)

Driehaus Capital Management LLC purchased a new stake in shares of Datadog, Inc. (NASDAQ:DDOG - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 3,339 shares of the company's stock, valued at approximately $477,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Retirement Wealth Solutions LLC purchased a new position in Datadog during the 4th quarter valued at about $30,000. Avior Wealth Management LLC grew its stake in shares of Datadog by 55.9% in the 4th quarter. Avior Wealth Management LLC now owns 226 shares of the company's stock valued at $32,000 after buying an additional 81 shares in the last quarter. Coppell Advisory Solutions LLC grew its stake in shares of Datadog by 178.8% in the 4th quarter. Coppell Advisory Solutions LLC now owns 276 shares of the company's stock valued at $40,000 after buying an additional 177 shares in the last quarter. Kieckhefer Group LLC bought a new stake in shares of Datadog in the 4th quarter valued at approximately $43,000. Finally, Summit Securities Group LLC bought a new stake in shares of Datadog in the 4th quarter valued at approximately $43,000. Hedge funds and other institutional investors own 78.29% of the company's stock.

Datadog Price Performance

Shares of NASDAQ DDOG traded up $1.78 during trading hours on Wednesday, reaching $119.09. The stock had a trading volume of 6,330,898 shares, compared to its average volume of 4,357,465. The business's fifty day moving average is $100.29 and its two-hundred day moving average is $125.70. The company has a market cap of $40.82 billion, a price-to-earnings ratio of 233.51, a PEG ratio of 44.03 and a beta of 1.12. Datadog, Inc. has a twelve month low of $81.63 and a twelve month high of $170.08.

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

Insider Activity at Datadog

In other Datadog news, CEO Olivier Pomel sold 107,365 shares of the business's stock in a transaction dated Monday, April 7th. The shares were sold at an average price of $87.33, for a total value of $9,376,185.45. Following the transaction, the chief executive officer now directly owns 563,598 shares in the company, valued at $49,219,013.34. The trade was a 16.00% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CTO Alexis Le-Quoc sold 127,105 shares of the firm's stock in a transaction that occurred on Wednesday, May 7th. The stock was sold at an average price of $105.83, for a total transaction of $13,451,522.15. Following the sale, the chief technology officer now directly owns 466,535 shares of the company's stock, valued at approximately $49,373,399.05. The trade was a 21.41% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 559,867 shares of company stock worth $57,550,902. 11.78% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on DDOG shares. DA Davidson boosted their price target on Datadog from $115.00 to $125.00 and gave the company a "buy" rating in a research note on Monday, May 5th. Royal Bank of Canada reissued an "outperform" rating and issued a $119.00 price target on shares of Datadog in a research note on Wednesday, May 7th. Scotiabank set a $130.00 price target on Datadog and gave the company an "outperform" rating in a research note on Wednesday, May 7th. Citigroup lowered their price target on Datadog from $170.00 to $165.00 and set a "buy" rating for the company in a research note on Friday, February 14th. Finally, Cantor Fitzgerald reissued an "overweight" rating and issued a $134.00 price target on shares of Datadog in a research note on Wednesday, May 7th. Seven investment analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $141.54.

About Datadog

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.