Cache Advisors LLC Takes Position in Datadog, Inc. (NASDAQ:DDOG)

Cache Advisors LLC bought a new stake in shares of Datadog, Inc. (NASDAQ:DDOG - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 25,381 shares of the company's stock, valued at approximately $3,627,000. Datadog makes up 1.4% of Cache Advisors LLC's holdings, making the stock its 16th largest position.

A number of other hedge funds have also recently modified their holdings of DDOG. Avior Wealth Management LLC boosted its holdings in shares of Datadog by 55.9% during the 4th quarter. Avior Wealth Management LLC now owns 226 shares of the company's stock valued at $32,000 after buying an additional 81 shares in the last quarter. Elequin Capital LP bought a new stake in shares of Datadog during the 4th quarter valued at $34,000. Coppell Advisory Solutions LLC boosted its holdings in shares of Datadog by 178.8% during the 4th quarter. Coppell Advisory Solutions LLC now owns 276 shares of the company's stock valued at $40,000 after buying an additional 177 shares in the last quarter. Summit Securities Group LLC bought a new position in Datadog in the 4th quarter worth about $43,000. Finally, Itau Unibanco Holding S.A. boosted its stake in Datadog by 417.7% in the 4th quarter. Itau Unibanco Holding S.A. now owns 321 shares of the company's stock worth $46,000 after purchasing an additional 259 shares in the last quarter. Institutional investors own 78.29% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. BTIG Research set a $136.00 price target on shares of Datadog and gave the stock a "buy" rating in a research note on Tuesday, May 6th. Citigroup dropped their price target on shares of Datadog from $170.00 to $165.00 and set a "buy" rating on the stock in a research note on Friday, February 14th. Jefferies Financial Group reiterated a "buy" rating on shares of Datadog in a research note on Tuesday, May 6th. DA Davidson boosted their target price on Datadog from $115.00 to $125.00 and gave the stock a "buy" rating in a research report on Monday, May 5th. Finally, Barclays boosted their target price on Datadog from $125.00 to $128.00 and gave the stock an "overweight" rating in a research report on Tuesday, May 6th. Seven analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $141.54.

Datadog Stock Up 1.1%

DDOG stock traded up $1.30 during midday trading on Thursday, hitting $117.60. The company's stock had a trading volume of 1,498,039 shares, compared to its average volume of 4,380,619. Datadog, Inc. has a 12 month low of $81.63 and a 12 month high of $170.08. The firm has a market capitalization of $40.61 billion, a price-to-earnings ratio of 231.16, a price-to-earnings-growth ratio of 44.03 and a beta of 1.12. The company has a 50 day moving average of $103.16 and a two-hundred day moving average of $124.93.

Datadog (NASDAQ:DDOG - Get Free Report) last posted 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. The firm had revenue of $761.55 million during the quarter, compared to the consensus estimate of $741.73 million. Datadog had a return on equity of 8.28% and a net margin of 6.85%. The company's quarterly revenue was up 24.6% compared to the same quarter last year. During the same period in the prior year, the company earned $0.44 EPS. On average, analysts anticipate that Datadog, Inc. will post 0.34 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Amit Agarwal sold 25,000 shares of the firm's stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $118.67, for a total transaction of $2,966,750.00. Following the transaction, the director now owns 82,324 shares in the company, valued at approximately $9,769,389.08. This trade represents a 23.29% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CTO Alexis Le-Quoc sold 127,105 shares of the firm's stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $102.15, for a total value of $12,983,775.75. Following the transaction, the chief technology officer now owns 371,865 shares in the company, valued at approximately $37,986,009.75. This represents a 25.47% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 584,867 shares of company stock worth $60,517,652 over the last three months. 11.78% of the stock is owned by insiders.

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.