Newlands Management Operations LLC Acquires Shares of 3,178 Datadog, Inc. (NASDAQ:DDOG)

Newlands Management Operations LLC purchased a new stake in shares of Datadog, Inc. (NASDAQ:DDOG - Free Report) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 3,178 shares of the company's stock, valued at approximately $454,000. Datadog comprises 0.0% of Newlands Management Operations LLC's portfolio, making the stock its 24th largest position.

A number of other institutional investors have also made changes to their positions in the stock. Occudo Quantitative Strategies LP increased its position in shares of Datadog by 698.1% during the fourth quarter. Occudo Quantitative Strategies LP now owns 19,003 shares of the company's stock valued at $2,715,000 after acquiring an additional 16,622 shares during the last quarter. McGowan Group Asset Management Inc. acquired a new stake in shares of Datadog during the fourth quarter valued at about $3,544,000. Morse Asset Management Inc acquired a new stake in shares of Datadog during the fourth quarter valued at about $1,386,000. Napa Wealth Management acquired a new stake in shares of Datadog during the fourth quarter valued at about $1,469,000. Finally, Needham Investment Management LLC boosted its stake in shares of Datadog by 12.5% in the fourth quarter. Needham Investment Management LLC now owns 2,250 shares of the company's stock valued at $322,000 after purchasing an additional 250 shares during the period. 78.29% of the stock is currently owned by institutional investors and hedge funds.

Datadog Stock Performance

DDOG stock traded up $0.53 during midday trading on Friday, reaching $117.67. 3,138,469 shares of the company were exchanged, compared to its average volume of 4,359,271. Datadog, Inc. has a 1-year low of $81.63 and a 1-year high of $170.08. The stock's 50-day simple moving average is $101.10 and its 200 day simple moving average is $125.52. The company has a market cap of $40.33 billion, a price-to-earnings ratio of 230.73, a price-to-earnings-growth 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 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 company had revenue of $761.55 million for the quarter, compared to analysts' expectations of $741.73 million. During the same quarter last year, the company earned $0.44 earnings per share. The firm's revenue for the quarter was up 24.6% on a year-over-year basis. On average, research analysts anticipate that Datadog, Inc. will post 0.34 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts have recently commented on the stock. Wolfe Research lowered shares of Datadog from an "outperform" rating to a "peer perform" rating in a research note on Tuesday, February 18th. Citigroup lowered their price objective on shares of Datadog from $170.00 to $165.00 and set a "buy" rating for the company in a research note on Friday, February 14th. Barclays raised their price objective on shares of Datadog from $125.00 to $128.00 and gave the company an "overweight" rating in a research note on Tuesday, May 6th. Cantor Fitzgerald reissued an "overweight" rating and issued a $134.00 price objective on shares of Datadog in a research note on Wednesday, May 7th. Finally, Scotiabank set a $130.00 price objective on shares of Datadog and gave the company an "outperform" rating in a research note on Wednesday, May 7th. Seven investment analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company. According to MarketBeat, Datadog has a consensus rating of "Moderate Buy" and a consensus target price of $141.54.

Insider Activity at Datadog

In other Datadog news, CEO Olivier Pomel sold 107,365 shares of the business'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 transaction, the chief executive officer now directly owns 563,598 shares of the company's stock, valued at approximately $49,219,013.34. The trade was a 16.00% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CRO Sean Michael Walters sold 8,454 shares of the business's stock in a transaction on 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 represents a 4.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 584,867 shares of company stock worth $60,517,652 in the last 90 days. 11.78% of the stock is owned by insiders.

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.