GAMMA Investing LLC Raises Position in Datadog, Inc. (NASDAQ:DDOG)

GAMMA Investing LLC grew its holdings in shares of Datadog, Inc. (NASDAQ:DDOG - Free Report) by 9,984.3% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 79,666 shares of the company's stock after buying an additional 78,876 shares during the period. GAMMA Investing LLC's holdings in Datadog were worth $7,904,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Putney Financial Group LLC purchased a new stake in shares of Datadog in the 4th quarter worth about $32,000. Elequin Capital LP bought a new position in shares of Datadog in the 4th quarter worth approximately $34,000. MassMutual Private Wealth & Trust FSB boosted its position in shares of Datadog by 74.0% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 381 shares of the company's stock valued at $38,000 after purchasing an additional 162 shares in the last quarter. Coppell Advisory Solutions LLC grew its stake in Datadog by 178.8% in the fourth quarter. Coppell Advisory Solutions LLC now owns 276 shares of the company's stock worth $40,000 after purchasing an additional 177 shares during the period. Finally, Summit Securities Group LLC purchased a new position in Datadog during the fourth quarter valued at $43,000. Institutional investors own 78.29% of the company's stock.

Datadog Stock Down 0.8%

DDOG stock traded down $0.99 during trading on Monday, hitting $121.17. 4,803,300 shares of the company's stock traded hands, compared to its average volume of 4,400,594. The business has a fifty day simple moving average of $105.14 and a two-hundred day simple moving average of $124.32. The firm has a market capitalization of $41.85 billion, a P/E ratio of 237.59, a PEG ratio of 44.03 and a beta of 1.01. 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 quarterly earnings results on Tuesday, May 6th. The company reported $0.46 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.42 by $0.04. The business had revenue of $761.55 million for 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 business's quarterly revenue was up 24.6% on a year-over-year basis. During the same period in the prior year, the firm posted $0.44 earnings per share. On average, equities research analysts predict that Datadog, Inc. will post 0.34 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CRO Sean Michael Walters sold 8,454 shares of the firm's stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $102.04, for a total transaction of $862,646.16. Following the completion of the transaction, the executive now owns 185,871 shares of the company's stock, valued at $18,966,276.84. This trade represents a 4.35% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Shardul Shah sold 23,748 shares of the business's stock in a transaction on Wednesday, June 4th. The shares were sold at an average price of $120.00, for a total transaction of $2,849,760.00. Following the transaction, the director now owns 396,121 shares of the company's stock, valued at $47,534,520. This represents a 5.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 728,776 shares of company stock valued at $78,705,625. Insiders own 8.70% of the company's stock.

Wall Street Analyst Weigh In

DDOG has been the subject of a number of analyst reports. Jefferies Financial Group reaffirmed a "buy" rating on shares of Datadog in a research note on Tuesday, May 6th. Stifel Nicolaus set a $120.00 price target on shares of Datadog in a research note on Tuesday, May 6th. Needham & Company LLC dropped their target price on shares of Datadog from $160.00 to $130.00 and set a "buy" rating on the stock in a research note on Wednesday, May 7th. Wells Fargo & Company lowered their price objective on Datadog from $140.00 to $115.00 and set an "equal weight" rating on the stock in a research report on Wednesday, May 7th. Finally, UBS Group upped their price target on Datadog from $120.00 to $125.00 and gave the company a "buy" rating in a report on Wednesday, May 7th. Seven research analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $141.04.

Datadog Company 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.