Occudo Quantitative Strategies LP Purchases 16,622 Shares of Datadog, Inc. (NASDAQ:DDOG)

Occudo Quantitative Strategies LP raised its position in shares of Datadog, Inc. (NASDAQ:DDOG - Free Report) by 698.1% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 19,003 shares of the company's stock after buying an additional 16,622 shares during the period. Occudo Quantitative Strategies LP's holdings in Datadog were worth $2,715,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC increased its position in Datadog by 1.2% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 11,883 shares of the company's stock valued at $1,698,000 after purchasing an additional 137 shares during the period. Green Alpha Advisors LLC boosted its stake in shares of Datadog by 18.3% during the 4th quarter. Green Alpha Advisors LLC now owns 3,301 shares of the company's stock valued at $472,000 after purchasing an additional 511 shares in the last quarter. Kieckhefer Group LLC purchased a new position in shares of Datadog during the fourth quarter valued at about $43,000. Wedmont Private Capital raised its stake in Datadog by 8.3% in the fourth quarter. Wedmont Private Capital now owns 2,149 shares of the company's stock worth $302,000 after buying an additional 164 shares in the last quarter. Finally, Cooper Financial Group lifted its holdings in Datadog by 10.5% in the fourth quarter. Cooper Financial Group now owns 1,996 shares of the company's stock worth $285,000 after buying an additional 189 shares during the period. Hedge funds and other institutional investors own 78.29% of the company's stock.

Insider Activity

In related news, Director Amit Agarwal sold 10,167 shares of the business's stock in a transaction that occurred 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 transaction, the director now directly owns 82,324 shares of the company's stock, valued at approximately $9,538,058.64. The trade was a 10.99% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CRO Sean Michael Walters sold 8,454 shares of the stock in a transaction that occurred 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 sale, the executive now directly owns 185,871 shares of the company's stock, valued at approximately $18,966,276.84. This trade represents a 4.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 584,867 shares of company stock worth $60,517,652 in the last three months. Company insiders own 11.78% of the company's stock.

Datadog Stock Performance

Shares of Datadog stock traded up $0.53 on Friday, hitting $117.67. 3,138,469 shares of the company's stock 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 company has a 50-day simple moving average of $100.79 and a 200-day simple moving average of $125.59. The stock has a market capitalization of $40.33 billion, a PE ratio of 230.73, a PEG ratio of 44.03 and a beta of 1.12.

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

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on DDOG shares. Wolfe Research lowered Datadog from an "outperform" rating to a "peer perform" rating in a research report on Tuesday, February 18th. Royal Bank of Canada reissued an "outperform" rating and set a $119.00 price objective on shares of Datadog in a research report on Wednesday, May 7th. Morgan Stanley lowered their price target on shares of Datadog from $143.00 to $115.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 16th. Needham & Company LLC cut their price target on Datadog from $160.00 to $130.00 and set a "buy" rating on the stock in a research note on Wednesday, May 7th. Finally, Barclays lifted their price objective on Datadog from $125.00 to $128.00 and gave the company an "overweight" rating in a research note on Tuesday, May 6th. Seven equities research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the stock. According to data from MarketBeat, Datadog presently has a consensus rating of "Moderate Buy" and a consensus price target 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.