FengHe Fund Management Pte. Ltd. Makes New $2.45 Million Investment in Datadog, Inc. (NASDAQ:DDOG)

Key Points

• FengHe Fund Management acquired 24,700 shares of Datadog, Inc. for approximately $2.45 million, representing 0.9% of its portfolio.
• Datadog's stock reported a 28.1% increase in revenue year-over-year, with earnings per share surpassing analyst expectations.
• Insider sales have occurred recently, with directors selling shares totaling over $1 million, indicating potential changes in management confidence.

FengHe Fund Management Pte. Ltd. purchased a new stake in Datadog, Inc. (NASDAQ:DDOG - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 24,700 shares of the company's stock, valued at approximately $2,450,000. Datadog comprises about 0.9% of FengHe Fund Management Pte. Ltd.'s investment portfolio, making the stock its 23rd biggest position.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Vanguard Group Inc. increased its stake in Datadog by 3.5% during the first quarter. Vanguard Group Inc. now owns 31,413,032 shares of the company's stock worth $3,116,487,000 after acquiring an additional 1,058,803 shares during the last quarter. Baillie Gifford & Co. increased its stake in Datadog by 12.6% during the first quarter. Baillie Gifford & Co. now owns 12,274,655 shares of the company's stock worth $1,217,769,000 after acquiring an additional 1,369,522 shares during the last quarter. Goldman Sachs Group Inc. increased its stake in Datadog by 259.7% during the first quarter. Goldman Sachs Group Inc. now owns 8,658,340 shares of the company's stock worth $858,994,000 after acquiring an additional 6,250,942 shares during the last quarter. Brown Advisory Inc. increased its stake in Datadog by 76.5% during the first quarter. Brown Advisory Inc. now owns 4,853,012 shares of the company's stock worth $481,467,000 after acquiring an additional 2,103,838 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA increased its stake in Datadog by 4.0% during the first quarter. Massachusetts Financial Services Co. MA now owns 4,656,379 shares of the company's stock worth $461,959,000 after acquiring an additional 180,100 shares during the last quarter. Institutional investors and hedge funds own 78.29% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. DA Davidson set a $160.00 target price on Datadog and gave the stock a "buy" rating in a research note on Tuesday, August 5th. Wolfe Research raised Datadog from a "peer perform" rating to an "outperform" rating and set a $150.00 target price for the company in a research note on Thursday, June 12th. Morgan Stanley raised their target price on Datadog from $115.00 to $165.00 and gave the stock an "equal weight" rating in a research note on Thursday, July 10th. Cantor Fitzgerald raised their target price on Datadog from $171.00 to $179.00 and gave the stock an "overweight" rating in a research note on Thursday, August 7th. Finally, Bank of America raised their target price on Datadog from $150.00 to $175.00 and gave the stock a "buy" rating in a research note on Monday, July 7th. One research analyst has rated the stock with a sell rating, five have given a hold rating and twenty-four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $152.93.

Datadog Stock Up 2.2%

NASDAQ:DDOG traded up $2.73 during midday trading on Friday, reaching $127.25. The company had a trading volume of 4,565,628 shares, compared to its average volume of 5,961,600. The firm has a market capitalization of $44.38 billion, a price-to-earnings ratio of 363.58, a PEG ratio of 59.60 and a beta of 1.02. The stock's fifty day simple moving average is $135.95 and its 200-day simple moving average is $120.36. Datadog, Inc. has a 12-month low of $81.63 and a 12-month high of $170.08. The company has a current ratio of 3.43, a quick ratio of 2.74 and a debt-to-equity ratio of 0.31.

Datadog (NASDAQ:DDOG - Get Free Report) last released its earnings results on Thursday, August 7th. The company reported $0.46 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.41 by $0.05. The firm had revenue of $826.76 million during the quarter, compared to analyst estimates of $791.72 million. Datadog had a return on equity of 5.04% and a net margin of 4.13%. Datadog's revenue was up 28.1% compared to the same quarter last year. During the same period last year, the business posted $0.43 earnings per share. On average, sell-side analysts anticipate that Datadog, Inc. will post 0.34 earnings per share for the current fiscal year.

Insider Activity at Datadog

In other Datadog news, Director Titilope Cole sold 2,210 shares of Datadog stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $136.59, for a total transaction of $301,863.90. Following the completion of the sale, the director directly owned 6,347 shares of the company's stock, valued at $866,936.73. The trade was a 25.83% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CTO Alexis Le-Quoc sold 41,468 shares of Datadog stock in a transaction dated Tuesday, August 5th. The stock was sold at an average price of $134.47, for a total value of $5,576,201.96. Following the sale, the chief technology officer directly owned 452,769 shares of the company's stock, valued at $60,883,847.43. This trade represents a 8.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 846,051 shares of company stock worth $107,936,283 over the last three months. Company insiders own 8.70% of the company's stock.

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.