Cache Advisors LLC Purchases Shares of 25,381 Datadog, Inc. (NASDAQ:DDOG)

Cache Advisors LLC purchased a new stake in Datadog, Inc. (NASDAQ:DDOG - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 25,381 shares of the company's stock, valued at approximately $3,627,000. Datadog comprises approximately 1.4% of Cache Advisors LLC's investment portfolio, making the stock its 16th biggest position.

Several other hedge funds also recently added to or reduced their stakes in DDOG. Merit Financial Group LLC purchased a new stake in Datadog in the fourth quarter valued at $343,000. HB Wealth Management LLC boosted its holdings in Datadog by 20.0% in the fourth quarter. HB Wealth Management LLC now owns 2,428 shares of the company's stock valued at $347,000 after purchasing an additional 404 shares during the last quarter. Perpetual Ltd purchased a new stake in Datadog in the fourth quarter valued at $355,000. Dakota Wealth Management purchased a new stake in shares of Datadog during the 4th quarter worth about $435,000. Finally, SG Americas Securities LLC boosted its stake in shares of Datadog by 149.5% during the 4th quarter. SG Americas Securities LLC now owns 18,372 shares of the company's stock worth $2,625,000 after acquiring an additional 11,009 shares in the last quarter. 78.29% of the stock is owned by hedge funds and other institutional investors.

Datadog Stock Up 2.7%

DDOG traded up $3.14 on Tuesday, reaching $117.60. The company had a trading volume of 3,316,280 shares, compared to its average volume of 4,390,235. Datadog, Inc. has a 1 year low of $81.63 and a 1 year high of $170.08. The stock has a market capitalization of $40.61 billion, a PE ratio of 230.59, a P/E/G ratio of 44.03 and a beta of 1.12. The stock has a 50-day moving average price of $102.65 and a 200-day moving average price of $125.04.

Datadog (NASDAQ:DDOG - Get Free Report) last announced its earnings results on Tuesday, May 6th. The company reported $0.46 EPS for the quarter, beating analysts' consensus estimates of $0.42 by $0.04. Datadog had a net margin of 6.85% and a return on equity of 8.28%. The business had revenue of $761.55 million during the quarter, compared to analysts' expectations of $741.73 million. During the same period in the prior year, the company earned $0.44 earnings per share. The business's revenue was up 24.6% compared to the same quarter last year. As a group, analysts expect that Datadog, Inc. will post 0.34 earnings per share for the current fiscal year.

Insider Transactions at Datadog

In other Datadog news, CRO Sean Michael Walters sold 8,454 shares of the company's stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $102.04, for a total transaction of $862,646.16. Following the transaction, the executive now directly owns 185,871 shares in the company, valued at approximately $18,966,276.84. This represents a 4.35% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Amit Agarwal sold 10,167 shares of the company's 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 transaction, the director now owns 82,324 shares in the company, valued at $9,538,058.64. The trade was a 10.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 584,867 shares of company stock worth $60,517,652 over the last ninety days. 11.78% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

DDOG has been the topic of several recent analyst reports. DA Davidson increased their target price on shares of Datadog from $115.00 to $125.00 and gave the stock a "buy" rating in a research note on Monday, May 5th. BTIG Research set a $136.00 target price on shares of Datadog and gave the stock a "buy" rating in a research note on Tuesday, May 6th. Barclays increased their target price on shares of Datadog from $125.00 to $128.00 and gave the stock an "overweight" rating in a research note on Tuesday, May 6th. Rosenblatt Securities lowered their target price on shares of Datadog from $160.00 to $150.00 and set a "buy" rating on the stock in a research note on Monday, May 5th. Finally, Wells Fargo & Company lowered their target price on shares of Datadog from $140.00 to $115.00 and set an "equal weight" rating on the stock in a research note on Wednesday, May 7th. Seven investment analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target 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.