Datadog, Inc. (NASDAQ:DDOG) Shares Bought by Dark Forest Capital Management LP

Dark Forest Capital Management LP raised its stake in shares of Datadog, Inc. (NASDAQ:DDOG - Free Report) by 272.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,561 shares of the company's stock after buying an additional 7,723 shares during the quarter. Dark Forest Capital Management LP's holdings in Datadog were worth $1,509,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Allworth Financial LP lifted its position in Datadog by 7.7% during the fourth quarter. Allworth Financial LP now owns 1,043 shares of the company's stock valued at $146,000 after purchasing an additional 75 shares during 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 purchasing an additional 80 shares during the last quarter. Avior Wealth Management LLC lifted its position in Datadog by 55.9% during the fourth quarter. Avior Wealth Management LLC now owns 226 shares of the company's stock valued at $32,000 after purchasing an additional 81 shares during the last quarter. Farther Finance Advisors LLC lifted its position in Datadog by 5.2% during the fourth quarter. Farther Finance Advisors LLC now owns 1,853 shares of the company's stock valued at $265,000 after purchasing an additional 92 shares during the last quarter. Finally, Parkside Financial Bank & Trust lifted its position in 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 during the last quarter. 78.29% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

DDOG has been the subject of several research reports. Stifel Nicolaus lowered shares of Datadog from a "buy" rating to a "hold" rating and lowered their price objective for the company from $165.00 to $140.00 in a research report on Wednesday, January 29th. Wells Fargo & Company lowered shares of Datadog from an "overweight" rating to an "equal weight" rating and lowered their target price for the stock from $152.00 to $140.00 in a report on Thursday, February 13th. DA Davidson lowered their target price on shares of Datadog from $165.00 to $115.00 and set a "buy" rating for the company in a report on Monday, April 14th. Royal Bank of Canada raised their target price on shares of Datadog from $151.00 to $170.00 and gave the stock an "outperform" rating in a report on Friday, January 3rd. Finally, Truist Financial lowered their target price on shares of Datadog from $140.00 to $120.00 and set a "hold" rating for the company in a report on Monday, March 31st. Seven equities research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $150.33.

Datadog Price Performance

Datadog stock traded up $1.92 during mid-day trading on Friday, reaching $101.52. 3,025,472 shares of the company traded hands, compared to its average volume of 4,354,572. Datadog, Inc. has a fifty-two week low of $81.63 and a fifty-two week high of $170.08. The firm's fifty day moving average is $102.74 and its two-hundred day moving average is $127.32. The company has a market capitalization of $34.80 billion, a price-to-earnings ratio of 199.06, a price-to-earnings-growth ratio of 44.03 and a beta of 1.20.

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

Insider Activity at Datadog

In other Datadog news, Director Amit Agarwal sold 10,167 shares of the stock in a transaction dated 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 sale, the director now directly owns 82,324 shares of the company's stock, valued at approximately $9,538,058.64. This trade represents a 10.99 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CTO Alexis Le-Quoc sold 127,105 shares of the stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $142.78, for a total value of $18,148,051.90. Following the sale, the chief technology officer now directly owns 324,778 shares in the company, valued at $46,371,802.84. This represents a 28.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 523,756 shares of company stock valued at $58,732,500 in the last ninety 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.