Ionic Capital Management LLC Purchases New Shares in Datadog, Inc. (NASDAQ:DDOG)

Ionic Capital Management LLC acquired a new position in shares of Datadog, Inc. (NASDAQ:DDOG - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 7,500 shares of the company's stock, valued at approximately $1,072,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in DDOG. Allworth Financial LP raised its stake in Datadog by 7.7% in the 4th quarter. Allworth Financial LP now owns 1,043 shares of the company's stock worth $146,000 after purchasing an additional 75 shares in the last quarter. Spire Wealth Management increased its stake in 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 acquiring an additional 80 shares during the last quarter. Avior Wealth Management LLC raised its holdings in shares of Datadog by 55.9% during the 4th quarter. Avior Wealth Management LLC now owns 226 shares of the company's stock worth $32,000 after buying an additional 81 shares in the last quarter. Farther Finance Advisors LLC lifted its position in shares of Datadog by 5.2% during the 4th quarter. Farther Finance Advisors LLC now owns 1,853 shares of the company's stock worth $265,000 after buying an additional 92 shares during the last quarter. Finally, Parkside Financial Bank & Trust boosted its stake in 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 buying an additional 94 shares in the last quarter. 78.29% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, CEO Olivier Pomel sold 107,365 shares of Datadog 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 sale, the chief executive officer now directly owns 435,793 shares in the company, valued at approximately $47,745,481.08. This trade represents a 19.77% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Amit Agarwal sold 10,167 shares of the firm's stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $115.86, for a total value of $1,177,948.62. Following the completion of the sale, the director now directly owns 82,324 shares of the company's stock, valued at $9,538,058.64. The trade was a 10.99% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 559,867 shares of company stock valued at $57,550,902 over the last quarter. 11.78% of the stock is owned by corporate insiders.

Datadog Stock Performance

NASDAQ DDOG traded up $1.78 during trading hours on Wednesday, hitting $119.09. The company had a trading volume of 6,330,898 shares, compared to its average volume of 4,357,467. The firm has a 50 day simple moving average of $100.48 and a 200 day simple moving average of $125.66. The firm has a market capitalization of $40.82 billion, a price-to-earnings ratio of 233.51, a PEG ratio of 44.03 and a beta of 1.12. Datadog, Inc. has a 52 week low of $81.63 and a 52 week high of $170.08.

Datadog (NASDAQ:DDOG - Get Free Report) last posted 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 net margin of 6.85% and a return on equity of 8.28%. The company had revenue of $761.55 million for the quarter, compared to analysts' expectations of $741.73 million. During the same period in the prior year, the business earned $0.44 earnings per share. Datadog's revenue for the quarter was up 24.6% compared to the same quarter last year. On average, research analysts forecast that Datadog, Inc. will post 0.34 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Macquarie lowered their target price on Datadog from $175.00 to $140.00 and set an "outperform" rating for the company in a research note on Wednesday, May 7th. Wolfe Research lowered Datadog from an "outperform" rating to a "peer perform" rating in a research report on Tuesday, February 18th. Canaccord Genuity Group reduced their price objective on shares of Datadog from $150.00 to $145.00 and set a "buy" rating on the stock in a research note on Wednesday, May 7th. Needham & Company LLC decreased their target price on Datadog from $160.00 to $130.00 and set a "buy" rating for the company in a research note on Wednesday, May 7th. Finally, UBS Group raised their target price on Datadog from $120.00 to $125.00 and gave the company a "buy" rating in a research note on Wednesday, May 7th. Seven research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company's stock. According to data from MarketBeat, Datadog currently has a consensus rating of "Moderate Buy" and an average target price of $141.54.

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.