Datadog, Inc. (NASDAQ:DDOG) Shares Purchased by Townsquare Capital LLC

Key Points

• Townsquare Capital LLC increased its holdings in Datadog, Inc. by 444.2%, acquiring 14,672 additional shares during the first quarter, bringing their total to 17,975 shares worth approximately $1.78 million.
• Multiple institutional investors have boosted their stakes in Datadog, with 78.29% of the stock owned by institutional investors, indicating strong institutional interest.
• Analysts have mixed views on Datadog, with a consensus average price target of $151.72 and a majority rating the stock as a "Moderate Buy."

Townsquare Capital LLC increased its stake in shares of Datadog, Inc. (NASDAQ:DDOG - Free Report) by 444.2% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 17,975 shares of the company's stock after purchasing an additional 14,672 shares during the quarter. Townsquare Capital LLC's holdings in Datadog were worth $1,783,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of DDOG. Wealth Enhancement Advisory Services LLC grew its position in Datadog by 32.0% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 15,506 shares of the company's stock valued at $2,216,000 after acquiring an additional 3,760 shares during the last quarter. LBP AM SA boosted its stake in shares of Datadog by 40.2% during the first quarter. LBP AM SA now owns 419,805 shares of the company's stock valued at $41,649,000 after purchasing an additional 120,343 shares during the period. Envestnet Asset Management Inc. grew its holdings in shares of Datadog by 24.7% in the first quarter. Envestnet Asset Management Inc. now owns 787,344 shares of the company's stock worth $78,112,000 after purchasing an additional 156,152 shares during the last quarter. Total Wealth Planning & Management Inc. bought a new position in shares of Datadog in the fourth quarter worth about $314,000. Finally, Soros Fund Management LLC increased its stake in Datadog by 14.3% in the 4th quarter. Soros Fund Management LLC now owns 192,190 shares of the company's stock worth $27,462,000 after buying an additional 24,100 shares during the period. Hedge funds and other institutional investors own 78.29% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on DDOG. UBS Group set a $165.00 price objective on shares of Datadog and gave the company a "buy" rating in a research report on Thursday, August 7th. Barclays set a $170.00 price target on Datadog and gave the company an "overweight" rating in a report on Thursday, August 7th. Rosenblatt Securities reduced their price objective on Datadog from $160.00 to $150.00 and set a "buy" rating on the stock in a report on Monday, May 5th. Monness Crespi & Hardt upped their target price on Datadog from $160.00 to $185.00 and gave the stock a "buy" rating in a report on Thursday, August 7th. Finally, Macquarie cut their price target on Datadog from $175.00 to $140.00 and set an "outperform" rating on the stock in a research note on Wednesday, May 7th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and twenty-four have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $152.93.

Insider Buying and Selling

In other Datadog news, CEO Olivier Pomel sold 32,923 shares of Datadog stock in a transaction dated Monday, August 11th. The stock was sold at an average price of $130.38, for a total transaction of $4,292,500.74. Following the completion of the transaction, the chief executive officer owned 548,715 shares in the company, valued at approximately $71,541,461.70. This trade represents a 5.66% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CRO Sean Michael Walters sold 9,469 shares of the company's stock in a transaction dated Thursday, July 3rd. The stock was sold at an average price of $150.00, for a total value of $1,420,350.00. Following the completion of the sale, the executive owned 212,324 shares in the company, valued at $31,848,600. The trade was a 4.27% decrease in their position. The disclosure for this sale can be found here. Insiders sold 846,051 shares of company stock valued at $107,936,283 in the last 90 days. 8.70% of the stock is currently owned by insiders.

Datadog Stock Up 2.2%

Shares of DDOG traded up $2.73 during mid-day trading on Friday, hitting $127.25. 4,565,628 shares of the company traded hands, compared to its average volume of 5,961,600. The company has a market capitalization of $44.38 billion, a PE ratio of 363.58, a price-to-earnings-growth ratio of 59.60 and a beta of 1.02. The company has a quick ratio of 2.74, a current ratio of 3.43 and a debt-to-equity ratio of 0.31. The business has a 50 day moving average of $135.95 and a 200 day moving average of $120.36. 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 announced its quarterly earnings data on Thursday, August 7th. The company reported $0.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.41 by $0.05. Datadog had a return on equity of 5.04% and a net margin of 4.13%. The firm had revenue of $826.76 million during the quarter, compared to analysts' expectations of $791.72 million. During the same period last year, the business posted $0.43 earnings per share. The company's revenue for the quarter was up 28.1% compared to the same quarter last year. Equities research analysts anticipate that Datadog, Inc. will post 0.34 EPS for the current year.

Datadog 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.