Concentric Capital Strategies LP Invests $5.26 Million in Datadog, Inc. (NASDAQ:DDOG)

Concentric Capital Strategies LP purchased a new stake in Datadog, Inc. (NASDAQ:DDOG - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 36,776 shares of the company's stock, valued at approximately $5,255,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Caption Management LLC lifted its stake in shares of Datadog by 863.9% in the fourth quarter. Caption Management LLC now owns 34,700 shares of the company's stock valued at $4,958,000 after buying an additional 31,100 shares during the period. Cetera Investment Advisers lifted its stake in shares of Datadog by 24.4% in the fourth quarter. Cetera Investment Advisers now owns 61,603 shares of the company's stock valued at $8,802,000 after buying an additional 12,086 shares during the period. Brevan Howard Capital Management LP lifted its stake in shares of Datadog by 66.9% in the fourth quarter. Brevan Howard Capital Management LP now owns 40,652 shares of the company's stock valued at $5,809,000 after buying an additional 16,295 shares during the period. Captrust Financial Advisors lifted its stake in shares of Datadog by 17.6% in the fourth quarter. Captrust Financial Advisors now owns 11,190 shares of the company's stock valued at $1,599,000 after buying an additional 1,677 shares during the period. Finally, Brown Advisory Inc. lifted its stake in Datadog by 2,804.2% during the fourth quarter. Brown Advisory Inc. now owns 2,749,174 shares of the company's stock worth $392,830,000 after purchasing an additional 2,654,512 shares during the period. 78.29% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, CRO Sean Michael Walters sold 8,454 shares of the company's stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $102.04, for a total value of $862,646.16. Following the transaction, the executive now owns 185,871 shares in the company, valued at approximately $18,966,276.84. This represents a 4.35% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Olivier Pomel sold 107,365 shares of the company's stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $109.56, for a total transaction of $11,762,909.40. Following the completion of the transaction, the chief executive officer now owns 435,793 shares in the company, valued at approximately $47,745,481.08. This trade represents a 19.77% decrease in their position. The disclosure for this sale can be found here. Insiders sold 559,867 shares of company stock worth $57,550,902 in the last quarter. Corporate insiders own 11.78% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on DDOG. JMP Securities restated a "market perform" rating on shares of Datadog in a research note on Friday, February 14th. Morgan Stanley dropped their price objective on shares of Datadog from $143.00 to $115.00 and set an "equal weight" rating for the company in a report on Wednesday, April 16th. Scotiabank set a $130.00 price objective on shares of Datadog and gave the stock an "outperform" rating in a report on Wednesday. Stifel Nicolaus set a $120.00 price objective on shares of Datadog in a report on Tuesday, May 6th. Finally, Wells Fargo & Company dropped their price objective on shares of Datadog from $140.00 to $115.00 and set an "equal weight" rating for the company in a report on Wednesday, May 7th. Seven research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company's stock. According to MarketBeat, Datadog presently has a consensus rating of "Moderate Buy" and a consensus price target of $141.54.

Datadog Price Performance

Shares of NASDAQ DDOG traded up $4.56 during midday trading on Monday, reaching $112.44. 1,733,820 shares of the stock were exchanged, compared to its average volume of 4,324,094. The business has a 50-day simple moving average of $100.20 and a two-hundred day simple moving average of $125.85. The company has a market capitalization of $38.54 billion, a price-to-earnings ratio of 220.03, a P/E/G ratio of 44.03 and a beta of 1.12. Datadog, Inc. has a 12 month low of $81.63 and a 12 month high of $170.08.

Datadog (NASDAQ:DDOG - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The company reported $0.46 earnings per share for the quarter, topping analysts' consensus estimates of $0.42 by $0.04. The company had revenue of $761.55 million for the quarter, compared to analysts' expectations of $741.73 million. Datadog had a net margin of 6.85% and a return on equity of 8.28%. The business's quarterly revenue was up 24.6% compared to the same quarter last year. During the same period last year, the firm posted $0.44 earnings per share. Equities research analysts expect that Datadog, Inc. will post 0.34 earnings per share for the current fiscal year.

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.