Voloridge Investment Management LLC Grows Holdings in Datadog, Inc. (NASDAQ:DDOG)

Voloridge Investment Management LLC grew its stake in shares of Datadog, Inc. (NASDAQ:DDOG - Free Report) by 2,572.0% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 577,531 shares of the company's stock after acquiring an additional 555,917 shares during the period. Voloridge Investment Management LLC owned about 0.17% of Datadog worth $82,523,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of DDOG. Allworth Financial LP lifted its holdings in shares of Datadog by 7.7% in the fourth quarter. Allworth Financial LP now owns 1,043 shares of the company's stock valued at $146,000 after purchasing an additional 75 shares in the last quarter. Spire Wealth Management lifted its holdings in shares of Datadog by 21.4% in the fourth quarter. Spire Wealth Management now owns 453 shares of the company's stock valued at $65,000 after purchasing an additional 80 shares in the last quarter. Avior Wealth Management LLC lifted its holdings in shares of Datadog by 55.9% in the fourth quarter. Avior Wealth Management LLC now owns 226 shares of the company's stock valued at $32,000 after purchasing an additional 81 shares in the last quarter. Farther Finance Advisors LLC lifted its holdings in shares of Datadog by 5.2% in the fourth quarter. Farther Finance Advisors LLC now owns 1,853 shares of the company's stock valued at $265,000 after purchasing an additional 92 shares in the last quarter. Finally, Parkside Financial Bank & Trust lifted its holdings in shares of Datadog by 16.5% in the fourth quarter. Parkside Financial Bank & Trust now owns 663 shares of the company's stock valued at $95,000 after purchasing an additional 94 shares in the last quarter. Institutional investors and hedge funds own 78.29% of the company's stock.

Insider Buying and Selling at Datadog

In other news, CRO Sean Michael Walters sold 8,454 shares of Datadog stock in a transaction dated 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 directly owns 185,871 shares in the company, 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 filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Olivier Pomel sold 107,365 shares of Datadog stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $109.56, for a total transaction of $11,762,909.40. Following the transaction, the chief executive officer now owns 435,793 shares of the company's stock, valued at $47,745,481.08. This represents a 19.77% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 584,867 shares of company stock valued at $60,517,652. Corporate insiders own 11.78% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the stock. Truist Financial dropped their price target on shares of Datadog from $140.00 to $120.00 and set a "hold" rating on the stock in a research note on Monday, March 31st. JMP Securities reaffirmed a "market perform" rating on shares of Datadog in a research note on Friday, February 14th. BTIG Research set a $136.00 price target on shares of Datadog and gave the stock a "buy" rating in a research note on Tuesday, May 6th. Wells Fargo & Company dropped their price target on shares of Datadog from $140.00 to $115.00 and set an "equal weight" rating on the stock in a research note on Wednesday, May 7th. Finally, Royal Bank of Canada reaffirmed an "outperform" rating and issued a $119.00 price target on shares of Datadog 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 has a consensus rating of "Moderate Buy" and a consensus target price of $141.54.

Datadog Price Performance

NASDAQ DDOG traded down $1.21 during mid-day trading on Friday, reaching $114.46. 2,887,685 shares of the stock were exchanged, compared to its average volume of 4,394,496. Datadog, Inc. has a one year low of $81.63 and a one year high of $170.08. The stock has a 50 day simple moving average of $102.44 and a 200-day simple moving average of $125.14. The stock has a market cap of $39.53 billion, a P/E ratio of 224.44, a P/E/G ratio of 44.03 and a beta of 1.12.

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

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.