Sora Investors LLC Makes New Investment in Datadog, Inc. (NASDAQ:DDOG)

Sora Investors LLC purchased a new position in shares of Datadog, Inc. (NASDAQ:DDOG - Free Report) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 60,673 shares of the company's stock, valued at approximately $8,670,000.

A number of other institutional investors have also modified their holdings of DDOG. Groupama Asset Managment raised its holdings in Datadog by 407.6% in the 4th quarter. Groupama Asset Managment now owns 6,600,000 shares of the company's stock valued at $943,074,000 after acquiring an additional 5,299,688 shares during the last quarter. Janus Henderson Group PLC grew its position in shares of Datadog by 17,477.2% in the fourth quarter. Janus Henderson Group PLC now owns 4,016,558 shares of the company's stock valued at $573,923,000 after purchasing an additional 3,993,707 shares during the period. Norges Bank acquired a new position in Datadog in the fourth quarter valued at $462,910,000. Jennison Associates LLC increased its stake in Datadog by 47.9% in the fourth quarter. Jennison Associates LLC now owns 9,278,648 shares of the company's stock valued at $1,325,826,000 after purchasing an additional 3,005,300 shares during the last quarter. Finally, Brown Advisory Inc. lifted its position 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 buying an additional 2,654,512 shares during the period. Institutional investors and hedge funds own 78.29% of the company's stock.

Datadog Price Performance

Datadog stock traded down $1.21 during midday trading on Monday, hitting $116.46. 4,864,193 shares of the stock were exchanged, compared to its average volume of 4,370,451. Datadog, Inc. has a 1 year low of $81.63 and a 1 year high of $170.08. The firm has a market cap of $40.22 billion, a P/E ratio of 228.36, a P/E/G ratio of 44.03 and a beta of 1.12. The company has a 50 day moving average price of $101.10 and a two-hundred day moving average price of $125.50.

Datadog (NASDAQ:DDOG - Get Free Report) last issued its quarterly 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. Datadog had a return on equity of 8.28% and a net margin of 6.85%. The firm had revenue of $761.55 million during the quarter, compared to the consensus estimate of $741.73 million. During the same quarter in the prior year, the business posted $0.44 earnings per share. Datadog's revenue for the quarter was up 24.6% on a year-over-year basis. As a group, analysts predict that Datadog, Inc. will post 0.34 EPS for the current year.

Wall Street Analyst Weigh In

DDOG has been the subject of a number of research analyst reports. Stifel Nicolaus set a $120.00 price objective on shares of Datadog in a research note on Tuesday, May 6th. Macquarie dropped their price target on shares of Datadog from $175.00 to $140.00 and set an "outperform" rating for the company in a research report on Wednesday, May 7th. Wolfe Research downgraded shares of Datadog from an "outperform" rating to a "peer perform" rating in a research note on Tuesday, February 18th. UBS Group lifted their price target on shares of Datadog from $120.00 to $125.00 and gave the company a "buy" rating in a report on Wednesday, May 7th. Finally, JMP Securities restated a "market perform" rating on shares of Datadog in a report on Friday, February 14th. Seven analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the stock. According to data from MarketBeat.com, Datadog has an average rating of "Moderate Buy" and a consensus target price of $141.54.

Insider Activity

In other Datadog news, Director Amit Agarwal sold 25,000 shares of the stock in a transaction on Wednesday, May 14th. The shares were sold at an average price of $118.67, for a total transaction of $2,966,750.00. Following the transaction, the director now directly owns 82,324 shares in the company, valued at $9,769,389.08. This represents a 23.29% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Olivier Pomel sold 107,365 shares of the business's stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $109.56, for a total transaction of $11,762,909.40. Following the completion of the sale, the chief executive officer now directly owns 435,793 shares of the company's stock, valued at $47,745,481.08. The trade was a 19.77% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 584,867 shares of company stock worth $60,517,652. 11.78% of the stock is currently owned by insiders.

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.