Cache Advisors LLC Invests $3.63 Million in Datadog, Inc. (NASDAQ:DDOG)

Cache Advisors LLC bought a new stake in Datadog, Inc. (NASDAQ:DDOG - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 25,381 shares of the company's stock, valued at approximately $3,627,000. Datadog comprises about 1.4% of Cache Advisors LLC's investment portfolio, making the stock its 16th largest holding.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Allworth Financial LP boosted its position in Datadog by 7.7% in the fourth quarter. Allworth Financial LP now owns 1,043 shares of the company's stock valued at $146,000 after buying an additional 75 shares during the last quarter. Spire Wealth Management lifted its holdings in Datadog by 21.4% in the fourth quarter. Spire Wealth Management now owns 453 shares of the company's stock valued at $65,000 after acquiring an additional 80 shares during the period. Avior Wealth Management LLC lifted its holdings in Datadog by 55.9% in the fourth quarter. Avior Wealth Management LLC now owns 226 shares of the company's stock valued at $32,000 after acquiring an additional 81 shares during the period. Farther Finance Advisors LLC lifted its holdings in Datadog by 5.2% in the fourth quarter. Farther Finance Advisors LLC now owns 1,853 shares of the company's stock valued at $265,000 after acquiring an additional 92 shares during the period. Finally, Parkside Financial Bank & Trust lifted its holdings in Datadog by 16.5% in the fourth quarter. Parkside Financial Bank & Trust now owns 663 shares of the company's stock valued at $95,000 after acquiring an additional 94 shares during the period. Hedge funds and other institutional investors own 78.29% of the company's stock.

Analyst Ratings Changes

DDOG has been the subject of a number of analyst reports. Morgan Stanley decreased their price target on Datadog from $143.00 to $115.00 and set an "equal weight" rating for the company in a report on Wednesday, April 16th. Rosenblatt Securities decreased their price target on Datadog from $160.00 to $150.00 and set a "buy" rating for the company in a report on Monday, May 5th. Wedbush decreased their price target on Datadog from $155.00 to $140.00 and set an "outperform" rating for the company in a report on Wednesday, May 7th. DA Davidson boosted their price target on Datadog from $115.00 to $125.00 and gave the company a "buy" rating in a report on Monday, May 5th. Finally, Canaccord Genuity Group reduced their target price on Datadog from $150.00 to $145.00 and set a "buy" rating for the company in a research note on Wednesday, May 7th. Seven analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $141.54.

Datadog Trading Down 1.1%

NASDAQ:DDOG traded down $1.30 during trading hours on Wednesday, hitting $116.30. The company had a trading volume of 2,514,607 shares, compared to its average volume of 4,382,718. The company has a 50-day moving average of $102.93 and a 200 day moving average of $124.99. The company has a market cap of $40.16 billion, a P/E ratio of 228.04, a P/E/G ratio of 44.03 and a beta of 1.12. Datadog, Inc. has a 1 year low of $81.63 and a 1 year 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 the consensus estimate of $0.42 by $0.04. The company had revenue of $761.55 million during the quarter, compared to analysts' expectations of $741.73 million. Datadog had a return on equity of 8.28% and a net margin of 6.85%. The firm's quarterly revenue was up 24.6% on a year-over-year basis. During the same period in the prior year, the business earned $0.44 EPS. On average, analysts forecast that Datadog, Inc. will post 0.34 earnings per share for the current year.

Insider Buying and Selling at Datadog

In other news, CEO Olivier Pomel sold 107,365 shares of the stock in a transaction on 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 completion of the transaction, the chief executive officer now directly owns 435,793 shares in the company, valued at approximately $47,745,481.08. This represents a 19.77% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Amit Agarwal sold 10,167 shares of the stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $115.86, for a total value of $1,177,948.62. Following the transaction, the director now owns 82,324 shares of the company's stock, valued at approximately $9,538,058.64. This represents a 10.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 584,867 shares of company stock worth $60,517,652 in the last three months. 11.78% of the stock is owned by corporate insiders.

Datadog 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.