Panoramic Capital LLC Invests $5.90 Million in Datadog, Inc. (NASDAQ:DDOG)

Panoramic Capital LLC purchased a new stake in Datadog, Inc. (NASDAQ:DDOG - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 41,282 shares of the company's stock, valued at approximately $5,899,000. Datadog makes up approximately 3.2% of Panoramic Capital LLC's investment portfolio, making the stock its 5th biggest holding.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Groupama Asset Managment increased its holdings in Datadog by 407.6% in the 4th quarter. Groupama Asset Managment now owns 6,600,000 shares of the company's stock worth $943,074,000 after purchasing an additional 5,299,688 shares in the last quarter. Janus Henderson Group PLC boosted its holdings in Datadog by 17,477.2% in the fourth quarter. Janus Henderson Group PLC now owns 4,016,558 shares of the company's stock worth $573,923,000 after acquiring an additional 3,993,707 shares in the last quarter. Norges Bank purchased a new stake in shares of Datadog in the fourth quarter worth approximately $462,910,000. Jennison Associates LLC raised its stake in shares of Datadog by 47.9% in the fourth quarter. Jennison Associates LLC now owns 9,278,648 shares of the company's stock worth $1,325,826,000 after purchasing an additional 3,005,300 shares during the last quarter. Finally, Brown Advisory Inc. increased its position in shares of Datadog by 2,804.2% during the fourth quarter. Brown Advisory Inc. now owns 2,749,174 shares of the company's stock valued at $392,830,000 after acquiring an additional 2,654,512 shares during the last quarter. 78.29% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CRO Sean Michael Walters sold 8,454 shares of the 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 owns 185,871 shares in the company, valued at approximately $18,966,276.84. This represents a 4.35% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Amit Agarwal sold 10,167 shares of the stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $115.86, for a total transaction of $1,177,948.62. Following the completion of the sale, the director now owns 82,324 shares of the company's stock, valued at approximately $9,538,058.64. This represents a 10.99% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 584,867 shares of company stock worth $60,517,652. Corporate insiders own 11.78% of the company's stock.

Datadog Stock Up 0.5%

NASDAQ:DDOG traded up $0.53 during trading hours on Friday, reaching $117.67. 3,138,469 shares of the company's stock were exchanged, compared to its average volume of 4,359,271. The business's 50-day simple moving average is $101.10 and its two-hundred day simple moving average is $125.52. Datadog, Inc. has a 12 month low of $81.63 and a 12 month high of $170.08. The company has a market capitalization of $40.33 billion, a P/E 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 earnings results on Tuesday, May 6th. The company reported $0.46 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.42 by $0.04. The company had revenue of $761.55 million during the quarter, compared to the consensus estimate of $741.73 million. Datadog had a net margin of 6.85% and a return on equity of 8.28%. The company's revenue was up 24.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.44 EPS. As a group, sell-side analysts anticipate that Datadog, Inc. will post 0.34 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. Rosenblatt Securities cut their price target on Datadog from $160.00 to $150.00 and set a "buy" rating for the company in a report on Monday, May 5th. Truist Financial cut their target price on Datadog from $140.00 to $120.00 and set a "hold" rating on the stock in a research note on Monday, March 31st. Wells Fargo & Company dropped their price target on Datadog from $140.00 to $115.00 and set an "equal weight" rating on the stock in a research report on Wednesday, May 7th. UBS Group boosted their price objective on shares of Datadog from $120.00 to $125.00 and gave the stock a "buy" rating in a report on Wednesday, May 7th. Finally, Citigroup decreased their target price 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. Seven 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.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $141.54.

Datadog Company 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.