Dilation Capital Management LP Acquires Shares of 43,126 Datadog, Inc. (NASDAQ:DDOG)

Dilation Capital Management LP bought a new position in shares of Datadog, Inc. (NASDAQ:DDOG - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 43,126 shares of the company's stock, valued at approximately $6,162,000. Datadog makes up about 5.7% of Dilation Capital Management LP's holdings, making the stock its 7th biggest position.

Several other institutional investors and hedge funds have also modified their holdings of the business. Proficio Capital Partners LLC bought a new stake in shares of Datadog during the 4th quarter valued at $14,884,000. ARK Investment Management LLC lifted its position in Datadog by 62.7% during the fourth quarter. ARK Investment Management LLC now owns 127,290 shares of the company's stock worth $18,188,000 after purchasing an additional 49,050 shares during the period. Y Intercept Hong Kong Ltd grew its stake in Datadog by 140.1% during the fourth quarter. Y Intercept Hong Kong Ltd now owns 53,116 shares of the company's stock worth $7,590,000 after buying an additional 30,998 shares in the last quarter. Baillie Gifford & Co. raised its position in shares of Datadog by 15.8% in the 4th quarter. Baillie Gifford & Co. now owns 10,905,133 shares of the company's stock valued at $1,558,234,000 after buying an additional 1,484,562 shares in the last quarter. Finally, Cullen Frost Bankers Inc. lifted its holdings in shares of Datadog by 3.5% during the 4th quarter. Cullen Frost Bankers Inc. now owns 72,489 shares of the company's stock worth $10,358,000 after acquiring an additional 2,451 shares during the period. 78.29% of the stock is currently owned by institutional investors and hedge funds.

Datadog Stock Up 1.9 %

Shares of NASDAQ:DDOG traded up $1.92 on Friday, hitting $101.52. 3,025,472 shares of the company traded hands, compared to its average volume of 4,357,500. The company has a market cap of $34.80 billion, a PE ratio of 199.06, a PEG ratio of 44.03 and a beta of 1.20. The stock has a 50 day simple moving average of $102.74 and a 200-day simple moving average of $127.32. Datadog, Inc. has a 52 week low of $81.63 and a 52 week high of $170.08.

Datadog (NASDAQ:DDOG - Get Free Report) last released its quarterly 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, sell-side analysts anticipate that Datadog, Inc. will post 0.34 earnings per share for the current year.

Insider Activity at Datadog

In other news, CTO Alexis Le-Quoc sold 127,105 shares of Datadog stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $142.78, for a total transaction of $18,148,051.90. Following the completion of the sale, the chief technology officer now directly owns 324,778 shares in the company, valued at approximately $46,371,802.84. This trade represents a 28.13 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Olivier Pomel sold 107,365 shares of the 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 transaction, the chief executive officer now owns 435,793 shares in the company, valued at approximately $47,745,481.08. The trade was a 19.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 523,756 shares of company stock valued at $58,732,500. 11.78% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Cantor Fitzgerald started coverage on shares of Datadog in a research note on Friday, January 17th. They issued an "overweight" rating and a $180.00 price objective on the stock. Macquarie reiterated an "outperform" rating and issued a $200.00 price target on shares of Datadog in a research note on Tuesday, February 11th. Morgan Stanley dropped their price objective 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. DA Davidson reduced their price target on shares of Datadog from $165.00 to $115.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. Finally, Truist Financial lowered their price objective on shares of Datadog from $140.00 to $120.00 and set a "hold" rating for the company in a research report on Monday, March 31st. Seven investment analysts have rated the stock with a hold rating, twenty-two have given a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Datadog presently has a consensus rating of "Moderate Buy" and a consensus target price of $150.33.

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.