Beck Bode LLC Purchases New Shares in Datadog, Inc. (NASDAQ:DDOG)

Beck Bode LLC acquired a new position in Datadog, Inc. (NASDAQ:DDOG - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 4,470 shares of the company's stock, valued at approximately $639,000.

Several other large investors also recently made changes to their positions in the business. Wilmington Savings Fund Society FSB bought a new stake in Datadog during the 3rd quarter worth about $625,000. Tidal Investments LLC grew its stake in shares of Datadog by 27.6% during the third quarter. Tidal Investments LLC now owns 28,295 shares of the company's stock valued at $3,256,000 after purchasing an additional 6,119 shares during the last quarter. Peapack Gladstone Financial Corp increased its holdings in shares of Datadog by 39.9% in the third quarter. Peapack Gladstone Financial Corp now owns 5,140 shares of the company's stock valued at $591,000 after purchasing an additional 1,465 shares in the last quarter. GAMMA Investing LLC raised its position in Datadog by 40.3% in the 4th quarter. GAMMA Investing LLC now owns 790 shares of the company's stock worth $113,000 after purchasing an additional 227 shares during the last quarter. Finally, Everence Capital Management Inc. acquired a new position in Datadog during the 4th quarter worth $1,190,000. Institutional investors own 78.29% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on DDOG shares. Royal Bank of Canada reiterated an "outperform" rating and issued a $119.00 price target on shares of Datadog in a report on Wednesday. Wolfe Research cut Datadog from an "outperform" rating to a "peer perform" rating in a research note on Tuesday, February 18th. Stifel Nicolaus set a $120.00 target price on Datadog in a research note on Tuesday. JMP Securities reaffirmed a "market perform" rating on shares of Datadog in a research note on Friday, February 14th. Finally, Truist Financial reduced their price objective on shares of Datadog from $140.00 to $120.00 and set a "hold" rating on the stock in a research note on Monday, March 31st. Seven investment analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $141.54.

Datadog Stock Performance

DDOG traded up $0.04 during trading on Wednesday, reaching $106.10. 5,925,064 shares of the stock were exchanged, compared to its average volume of 4,348,163. The stock has a market cap of $36.37 billion, a P/E ratio of 208.04, a price-to-earnings-growth ratio of 44.03 and a beta of 1.12. The stock's 50 day moving average price is $100.64 and its two-hundred day moving average price is $126.18. 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 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.42 by $0.04. Datadog had a net margin of 6.85% and a return on equity of 8.28%. The company had revenue of $761.55 million for the quarter, compared to analysts' expectations of $741.73 million. During the same period in the prior year, the firm earned $0.44 EPS. Datadog's quarterly revenue was up 24.6% compared to the same quarter last year. Equities research analysts predict that Datadog, Inc. will post 0.34 earnings per share for the current fiscal year.

Insider Buying and Selling at Datadog

In related news, CTO Alexis Le-Quoc sold 127,105 shares of the stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $102.15, for a total value of $12,983,775.75. Following the sale, the chief technology officer now owns 371,865 shares in the company, valued at approximately $37,986,009.75. This represents a 25.47 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Amit Agarwal sold 10,167 shares of the firm's stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $115.86, for a total value of $1,177,948.62. Following the sale, the director now directly owns 82,324 shares of the company's stock, valued at $9,538,058.64. This represents a 10.99 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 385,456 shares of company stock worth $39,018,715 over the last 90 days. Company insiders own 11.78% of the company's stock.

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.