Datadog, Inc. (NASDAQ:DDOG) Shares Bought by Bayforest Capital Ltd

Key Points

• Bayforest Capital Ltd increased its stake in Datadog by 299.9% in the first quarter, holding $400,000 worth of shares after acquiring additional stock.
• Notable institutional investors like Janus Henderson Group and Brown Advisory significantly boosted their positions, with Janus Henderson raising its holdings by 17,477.2%.
• Datadog reported $761.55 million in quarterly revenue, exceeding estimates, and had an earnings per share of $0.46, beating the expected $0.42.

Bayforest Capital Ltd boosted its position in shares of Datadog, Inc. (NASDAQ:DDOG - Free Report) by 299.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,027 shares of the company's stock after buying an additional 3,020 shares during the period. Bayforest Capital Ltd's holdings in Datadog were worth $400,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Putney Financial Group LLC acquired a new position in Datadog during the fourth quarter worth approximately $32,000. Elequin Capital LP acquired a new position in shares of Datadog in the fourth quarter valued at approximately $34,000. Coppell Advisory Solutions LLC increased its holdings in shares of Datadog by 178.8% in the fourth quarter. Coppell Advisory Solutions LLC now owns 276 shares of the company's stock valued at $40,000 after purchasing an additional 177 shares during the period. Cornerstone Planning Group LLC increased its holdings in shares of Datadog by 96.9% in the first quarter. Cornerstone Planning Group LLC now owns 313 shares of the company's stock valued at $30,000 after purchasing an additional 154 shares during the period. Finally, Itau Unibanco Holding S.A. increased its holdings in shares of Datadog by 417.7% in the fourth quarter. Itau Unibanco Holding S.A. now owns 321 shares of the company's stock valued at $46,000 after purchasing an additional 259 shares during the period. Institutional investors and hedge funds own 78.29% of the company's stock.

Insider Buying and Selling

In other news, CTO Alexis Le-Quoc sold 127,105 shares of the business's stock in a transaction on Wednesday, May 7th. The stock was sold at an average price of $105.83, for a total value of $13,451,522.15. Following the completion of the transaction, the chief technology officer directly owned 466,535 shares of the company's stock, valued at $49,373,399.05. The trade was a 21.41% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO David M. Obstler sold 35,016 shares of the business's stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $117.40, for a total value of $4,110,878.40. Following the completion of the transaction, the chief financial officer directly owned 399,270 shares of the company's stock, valued at approximately $46,874,298. This trade represents a 8.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 968,861 shares of company stock valued at $119,264,653. Company insiders own 8.70% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on DDOG. Macquarie dropped their target price on Datadog from $175.00 to $140.00 and set an "outperform" rating on the stock in a report on Wednesday, May 7th. Stifel Nicolaus boosted their target price on Datadog from $120.00 to $135.00 and gave the company a "hold" rating in a report on Thursday, June 26th. Rosenblatt Securities dropped their target price on Datadog from $160.00 to $150.00 and set a "buy" rating on the stock in a report on Monday, May 5th. Mizuho boosted their target price on Datadog from $125.00 to $145.00 and gave the company an "outperform" rating in a report on Wednesday, July 16th. Finally, Cantor Fitzgerald boosted their target price on Datadog from $134.00 to $171.00 and gave the company an "overweight" rating in a report on Wednesday, July 16th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and twenty-four have assigned a buy rating to the company. According to MarketBeat.com, Datadog presently has a consensus rating of "Moderate Buy" and a consensus price target of $146.79.

Datadog Price Performance

DDOG stock traded down $4.38 during midday trading on Friday, hitting $135.60. 6,063,868 shares of the stock were exchanged, compared to its average volume of 9,555,494. The stock's 50-day moving average price is $133.30 and its 200-day moving average price is $121.01. The stock has a market cap of $46.83 billion, a price-to-earnings ratio of 294.79, a PEG ratio of 76.98 and a beta of 1.02. Datadog, Inc. has a fifty-two week low of $81.63 and a fifty-two week high of $170.08. The company has a debt-to-equity ratio of 0.34, a quick ratio of 2.74 and a current ratio of 2.74.

Datadog (NASDAQ:DDOG - Get Free Report) last issued its quarterly earnings data on Tuesday, May 6th. The company reported $0.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.42 by $0.04. The firm had revenue of $761.55 million during the quarter, compared to analysts' expectations of $741.73 million. Datadog had a return on equity of 6.39% and a net margin of 5.85%. Datadog's revenue was up 24.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.44 earnings per share. Research analysts predict that Datadog, Inc. will post 0.34 earnings per share for the current year.

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.