Matauro LLC Buys New Stake in Datadog, Inc. (NASDAQ:DDOG)

Matauro LLC bought a new position in shares of Datadog, Inc. (NASDAQ:DDOG - Free Report) during the 1st quarter, according to the company in its most recent filing with the SEC. The fund bought 6,678 shares of the company's stock, valued at approximately $663,000.

Other hedge funds have also modified their holdings of the company. Groupama Asset Managment grew its stake in Datadog by 407.6% during the 4th quarter. Groupama Asset Managment now owns 6,600,000 shares of the company's stock valued at $943,074,000 after purchasing an additional 5,299,688 shares in the last quarter. Janus Henderson Group PLC boosted its holdings in Datadog by 17,477.2% in the 4th quarter. Janus Henderson Group PLC now owns 4,016,558 shares of the company's stock valued at $573,923,000 after purchasing an additional 3,993,707 shares during the period. Norges Bank bought a new stake in shares of Datadog during the fourth quarter worth $462,910,000. Brown Advisory Inc. lifted its stake in shares of Datadog by 2,804.2% in the 4th quarter. Brown Advisory Inc. now owns 2,749,174 shares of the company's stock valued at $392,830,000 after purchasing an additional 2,654,512 shares during the period. Finally, Baillie Gifford & Co. boosted its holdings in shares of Datadog by 15.8% in the fourth quarter. Baillie Gifford & Co. now owns 10,905,133 shares of the company's stock valued at $1,558,234,000 after buying an additional 1,484,562 shares during the period. 78.29% of the stock is owned by hedge funds and other institutional investors.

Datadog Price Performance

Shares of DDOG traded up $2.91 on Tuesday, hitting $124.84. The company's stock had a trading volume of 5,514,819 shares, compared to its average volume of 4,402,430. The company has a 50 day moving average price of $108.71 and a 200 day moving average price of $122.94. The company has a market capitalization of $43.11 billion, a PE ratio of 244.79, a PEG ratio of 44.03 and a beta of 1.01. 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 released its quarterly earnings data on Tuesday, May 6th. The company reported $0.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.42 by $0.04. The firm had revenue of $761.55 million for the quarter, compared to analyst estimates of $741.73 million. Datadog had a return on equity of 8.28% and a net margin of 6.85%. The business's revenue for the quarter was up 24.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.44 earnings per share. On average, equities analysts forecast that Datadog, Inc. will post 0.34 EPS for the current year.

Wall Street Analysts Forecast Growth

DDOG has been the topic of several recent research reports. Canaccord Genuity Group lowered their price objective on Datadog from $150.00 to $145.00 and set a "buy" rating on the stock in a research report on Wednesday, May 7th. BTIG Research set a $136.00 price target on shares of Datadog and gave the stock a "buy" rating in a report on Tuesday, May 6th. Stifel Nicolaus set a $120.00 price target on shares of Datadog in a report on Tuesday, May 6th. Truist Financial decreased their price objective on shares of Datadog from $140.00 to $120.00 and set a "hold" rating for the company in a report on Monday, March 31st. Finally, Wells Fargo & Company dropped their price target on Datadog from $140.00 to $115.00 and set an "equal weight" rating for the company in a research note on Wednesday, May 7th. Six equities research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $142.25.

Insider Buying and Selling

In related news, CEO Olivier Pomel sold 107,365 shares of the company's stock in a transaction on Monday, April 7th. The shares were sold at an average price of $87.33, for a total value of $9,376,185.45. Following the completion of the transaction, the chief executive officer now directly owns 563,598 shares in the company, valued at approximately $49,219,013.34. The trade was a 16.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Shardul Shah sold 23,748 shares of Datadog stock in a transaction that occurred on Wednesday, June 4th. The stock was sold at an average price of $120.00, for a total value of $2,849,760.00. Following the completion of the sale, the director now owns 396,121 shares in the company, valued at approximately $47,534,520. This represents a 5.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 725,582 shares of company stock worth $80,913,097 in the last ninety days. Corporate 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.