Benchstone Capital Management LP Makes New $10.51 Million Investment in Datadog, Inc. (NASDAQ:DDOG)

Benchstone Capital Management LP purchased a new stake in shares of Datadog, Inc. (NASDAQ:DDOG - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 73,518 shares of the company's stock, valued at approximately $10,505,000.

Several other institutional investors also recently bought and sold shares of the stock. Retirement Wealth Solutions LLC purchased a new stake in shares of Datadog during the fourth quarter valued at approximately $30,000. Avior Wealth Management LLC boosted its position in Datadog by 55.9% during 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 during the period. Coppell Advisory Solutions LLC grew its holdings in Datadog by 178.8% in the 4th quarter. Coppell Advisory Solutions LLC now owns 276 shares of the company's stock worth $40,000 after acquiring an additional 177 shares during the last quarter. Kieckhefer Group LLC purchased a new position in shares of Datadog in the fourth quarter valued at about $43,000. Finally, Summit Securities Group LLC bought a new position in shares of Datadog during the fourth quarter valued at about $43,000. 78.29% of the stock is currently owned by hedge funds and other institutional investors.

Datadog Price Performance

Shares of Datadog stock traded up $0.04 during trading on Wednesday, hitting $106.10. 5,925,064 shares of the company's stock traded hands, compared to its average volume of 4,348,163. Datadog, Inc. has a 1 year low of $81.63 and a 1 year high of $170.08. The business has a 50-day simple moving average of $100.64 and a 200-day simple moving average of $126.18. The stock has a market capitalization of $36.37 billion, a P/E ratio of 208.04, a PEG ratio of 44.03 and a beta of 1.12.

Datadog (NASDAQ:DDOG - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The company reported $0.46 EPS for the quarter, topping analysts' consensus estimates of $0.42 by $0.04. The firm had revenue of $761.55 million during the quarter, compared to analyst estimates of $741.73 million. Datadog had a net margin of 6.85% and a return on equity of 8.28%. The business's revenue for the quarter was up 24.6% on a year-over-year basis. During the same period in the previous year, the business posted $0.44 earnings per share. On average, equities 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, Director Amit Agarwal sold 10,167 shares of the company's stock in a transaction 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 completion of the sale, the director now owns 82,324 shares in the company, valued at approximately $9,538,058.64. This represents a 10.99 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO Alexis Le-Quoc sold 127,105 shares of the firm's stock in a transaction dated 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 completion of the transaction, the chief technology officer now directly owns 371,865 shares in the company, valued at $37,986,009.75. The trade was a 25.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 385,456 shares of company stock worth $39,018,715. Insiders own 11.78% of the company's stock.

Analyst Ratings Changes

Several analysts recently issued reports on DDOG shares. UBS Group raised their target price on Datadog from $120.00 to $125.00 and gave the stock a "buy" rating in a research note on Wednesday. Stifel Nicolaus set a $120.00 price objective on Datadog in a research report on Tuesday. DA Davidson upped their target price on Datadog from $115.00 to $125.00 and gave the company a "buy" rating in a report on Monday. Morgan Stanley cut their price target on shares of Datadog from $143.00 to $115.00 and set an "equal weight" rating on the stock in a report on Wednesday, April 16th. Finally, Wells Fargo & Company reduced their price objective on shares of Datadog from $140.00 to $115.00 and set an "equal weight" rating on the stock in a research report on Wednesday. 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's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price 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.