Alight Capital Management LP Raises Position in Datadog, Inc. (NASDAQ:DDOG)

Alight Capital Management LP lifted its position in shares of Datadog, Inc. (NASDAQ:DDOG - Free Report) by 100.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 40,000 shares of the company's stock after purchasing an additional 20,000 shares during the period. Datadog accounts for approximately 1.9% of Alight Capital Management LP's portfolio, making the stock its 18th largest position. Alight Capital Management LP's holdings in Datadog were worth $5,716,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of DDOG. Allworth Financial LP boosted its position in Datadog by 7.7% during the 4th quarter. Allworth Financial LP now owns 1,043 shares of the company's stock valued at $146,000 after acquiring an additional 75 shares in the last quarter. Spire Wealth Management lifted its position in Datadog by 21.4% during the fourth quarter. Spire Wealth Management now owns 453 shares of the company's stock valued at $65,000 after buying an additional 80 shares during the period. Avior Wealth Management LLC grew its position in shares of Datadog by 55.9% in the 4th quarter. Avior Wealth Management LLC now owns 226 shares of the company's stock worth $32,000 after buying an additional 81 shares during the period. Farther Finance Advisors LLC lifted its position in Datadog by 5.2% during the 4th quarter. Farther Finance Advisors LLC now owns 1,853 shares of the company's stock valued at $265,000 after acquiring an additional 92 shares during the period. Finally, Parkside Financial Bank & Trust increased its stake in shares of Datadog by 16.5% during the fourth quarter. Parkside Financial Bank & Trust now owns 663 shares of the company's stock valued at $95,000 after purchasing an additional 94 shares in the last quarter. 78.29% of the stock is owned by institutional investors.

Datadog Stock Performance

Shares of DDOG traded up $0.70 during trading hours on Monday, hitting $105.70. 7,449,592 shares of the stock were exchanged, compared to its average volume of 4,382,206. The stock's 50-day moving average price is $100.95 and its two-hundred day moving average price is $126.47. Datadog, Inc. has a 12-month low of $81.63 and a 12-month high of $170.08. The company has a market cap of $36.23 billion, a price-to-earnings ratio of 207.26, a price-to-earnings-growth ratio of 44.03 and a beta of 1.12.

Datadog (NASDAQ:DDOG - Get Free Report) last issued its earnings results on Thursday, February 13th. The company reported $0.13 EPS for the quarter, missing analysts' consensus estimates of $0.44 by ($0.31). Datadog had a net margin of 6.85% and a return on equity of 8.28%. On average, research analysts expect that Datadog, Inc. will post 0.34 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. Barclays lowered their price target on Datadog from $180.00 to $125.00 and set an "overweight" rating on the stock in a report on Monday, April 21st. Scotiabank reduced their target price on shares of Datadog from $155.00 to $125.00 and set a "sector outperform" rating for the company in a report on Tuesday, April 15th. Morgan Stanley cut their target price on Datadog from $143.00 to $115.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 16th. Stifel Nicolaus downgraded Datadog from a "buy" rating to a "hold" rating and decreased their target price for the stock from $165.00 to $140.00 in a research report on Wednesday, January 29th. Finally, UBS Group decreased their target price on shares of Datadog from $164.00 to $120.00 and set a "buy" rating on the stock in a research report on Tuesday, April 15th. Seven equities research analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $150.33.

Insider Buying and Selling at Datadog

In other Datadog news, CEO Olivier Pomel sold 107,365 shares of the 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 of the company's stock, valued at $47,745,481.08. This trade represents a 19.77 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Amit Agarwal sold 10,167 shares of the stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $115.86, for a total transaction of $1,177,948.62. Following the transaction, the director now directly owns 82,324 shares of the company's stock, valued at $9,538,058.64. The trade was a 10.99 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 385,456 shares of company stock worth $39,018,715 in the last three months. 11.78% of the stock is owned by corporate insiders.

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.