GF Fund Management CO. LTD. Invests $8.48 Million in Datadog, Inc. (NASDAQ:DDOG)

GF Fund Management CO. LTD. 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 disclosure with the Securities and Exchange Commission. The fund bought 59,361 shares of the company's stock, valued at approximately $8,482,000.

A number of other large investors have also recently modified their holdings of DDOG. Merit Financial Group LLC bought a new position in shares of Datadog in the fourth quarter worth approximately $343,000. HB Wealth Management LLC lifted its position in Datadog by 20.0% during 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 bought a new stake in shares of Datadog in the 4th quarter worth about $355,000. Dakota Wealth Management bought a new stake in Datadog during the 4th quarter valued at about $435,000. Finally, SG Americas Securities LLC increased its position in Datadog by 149.5% during the 4th quarter. SG Americas Securities LLC now owns 18,372 shares of the company's stock valued at $2,625,000 after purchasing an additional 11,009 shares during the period. Institutional investors own 78.29% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on DDOG. JMP Securities reaffirmed a "market perform" rating on shares of Datadog in a research report on Friday, February 14th. UBS Group lifted their target price on shares of Datadog from $120.00 to $125.00 and gave the stock a "buy" rating in a research note on Wednesday, May 7th. Wedbush lowered their target price on shares of Datadog from $155.00 to $140.00 and set an "outperform" rating for the company in a research note on Wednesday, May 7th. Truist Financial lowered their target price on shares of Datadog from $140.00 to $120.00 and set a "hold" rating for the company in a research note on Monday, March 31st. Finally, Scotiabank set a $130.00 price objective on shares of Datadog and gave the company an "outperform" rating in a research note on Wednesday, May 7th. Seven research 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 an average rating of "Moderate Buy" and an average price target of $141.54.

Datadog Price Performance

DDOG traded up $1.30 during trading hours on Thursday, reaching $117.60. 1,498,039 shares of the stock traded hands, compared to its average volume of 4,380,619. The firm's fifty day simple moving average is $103.16 and its two-hundred day simple moving average is $124.93. The company has a market cap of $40.61 billion, a price-to-earnings ratio of 231.16, a PEG ratio of 44.03 and a beta of 1.12. Datadog, Inc. has a fifty-two week low of $81.63 and a fifty-two week high of $170.08.

Datadog (NASDAQ:DDOG - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The company reported $0.46 earnings per share for the quarter, topping the consensus estimate of $0.42 by $0.04. The company had revenue of $761.55 million during the quarter, compared to analyst estimates of $741.73 million. Datadog had a net margin of 6.85% and a return on equity of 8.28%. The firm's revenue for the quarter was up 24.6% compared to the same quarter last year. During the same period last year, the business earned $0.44 EPS. On average, research analysts predict that Datadog, Inc. will post 0.34 earnings per share for the current year.

Insider Activity

In related news, Director Amit Agarwal sold 25,000 shares of Datadog stock in a transaction dated Wednesday, May 14th. The shares were sold at an average price of $118.67, for a total value of $2,966,750.00. Following the sale, the director now directly owns 82,324 shares in the company, valued at $9,769,389.08. This trade represents a 23.29% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Olivier Pomel sold 107,365 shares of the business's stock in a transaction dated 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 sale, the chief executive officer now owns 435,793 shares in the company, valued at $47,745,481.08. This trade represents a 19.77% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 584,867 shares of company stock valued at $60,517,652. Company insiders own 11.78% 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.