Voloridge Investment Management LLC Has $82.52 Million Position in Datadog, Inc. (NASDAQ:DDOG)

Voloridge Investment Management LLC increased its holdings in shares of Datadog, Inc. (NASDAQ:DDOG - Free Report) by 2,572.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 577,531 shares of the company's stock after acquiring an additional 555,917 shares during the quarter. Voloridge Investment Management LLC owned about 0.17% of Datadog worth $82,523,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Worldquant Millennium Advisors LLC acquired a new position in Datadog in the 4th quarter valued at $21,574,000. Zurich Insurance Group Ltd FI acquired a new position in Datadog in the 4th quarter valued at $41,620,000. Vident Advisory LLC grew its holdings in Datadog by 79.0% in the 4th quarter. Vident Advisory LLC now owns 47,983 shares of the company's stock valued at $6,856,000 after buying an additional 21,171 shares in the last quarter. Temasek Holdings Private Ltd acquired a new position in Datadog in the 4th quarter valued at $2,270,000. Finally, Tidal Investments LLC grew its holdings in Datadog by 103.1% in the 4th quarter. Tidal Investments LLC now owns 57,453 shares of the company's stock valued at $8,209,000 after buying an additional 29,158 shares in the last quarter. 78.29% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

DDOG has been the subject of a number of recent analyst reports. Rosenblatt Securities cut their target price on Datadog from $160.00 to $150.00 and set a "buy" rating for the company in a research report on Monday, May 5th. Morgan Stanley cut their target price on Datadog from $143.00 to $115.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 16th. JMP Securities reiterated a "market perform" rating on shares of Datadog in a research report on Friday, February 14th. Royal Bank of Canada reiterated an "outperform" rating and set a $119.00 target price on shares of Datadog in a research report on Wednesday, May 7th. Finally, DA Davidson upped their target price on Datadog from $115.00 to $125.00 and gave the company a "buy" rating in a research report on Monday, May 5th. Seven analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $141.54.

Datadog Price Performance

Shares of DDOG stock opened at $116.46 on Tuesday. Datadog, Inc. has a 1-year low of $81.63 and a 1-year high of $170.08. The business has a 50-day moving average of $101.39 and a 200 day moving average of $125.45. The stock has a market capitalization of $40.22 billion, a PE ratio of 228.36, a P/E/G ratio of 44.03 and a beta of 1.12.

Datadog (NASDAQ:DDOG - Get Free Report) last released 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. Datadog had a return on equity of 8.28% and a net margin of 6.85%. The business had revenue of $761.55 million during the quarter, compared to analysts' expectations of $741.73 million. During the same quarter last year, the business posted $0.44 EPS. The business's revenue was up 24.6% on a year-over-year basis. Analysts anticipate that Datadog, Inc. will post 0.34 EPS for the current year.

Insiders Place Their Bets

In other Datadog news, CTO Alexis Le-Quoc sold 127,105 shares of the stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $102.15, for a total value of $12,983,775.75. Following the completion of the sale, the chief technology officer now owns 371,865 shares in the company, valued at approximately $37,986,009.75. This trade represents a 25.47% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Olivier Pomel sold 107,365 shares of the stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $109.56, for a total value of $11,762,909.40. Following the completion of the sale, the chief executive officer now owns 435,793 shares of the company's stock, valued at approximately $47,745,481.08. This trade represents a 19.77% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 584,867 shares of company stock worth $60,517,652. 11.78% of the stock is currently owned by company insiders.

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.

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