Polar Capital Holdings Plc Purchases 801,135 Shares of Datadog, Inc. (NASDAQ:DDOG)

Polar Capital Holdings Plc increased its position in Datadog, Inc. (NASDAQ:DDOG - Free Report) by 387.3% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,008,005 shares of the company's stock after purchasing an additional 801,135 shares during the period. Polar Capital Holdings Plc owned 0.30% of Datadog worth $144,034,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. Allworth Financial LP grew its stake in Datadog by 7.7% in the fourth 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 grew its stake in Datadog by 21.4% in the fourth quarter. Spire Wealth Management now owns 453 shares of the company's stock worth $65,000 after purchasing an additional 80 shares in the last quarter. Avior Wealth Management LLC grew its stake in Datadog by 55.9% in the fourth quarter. Avior Wealth Management LLC now owns 226 shares of the company's stock worth $32,000 after purchasing an additional 81 shares in the last quarter. Farther Finance Advisors LLC grew its stake in Datadog by 5.2% in the fourth quarter. Farther Finance Advisors LLC now owns 1,853 shares of the company's stock worth $265,000 after purchasing an additional 92 shares in the last quarter. Finally, Parkside Financial Bank & Trust grew its stake in Datadog by 16.5% in the fourth quarter. Parkside Financial Bank & Trust now owns 663 shares of the company's stock worth $95,000 after purchasing an additional 94 shares in the last quarter. 78.29% of the stock is currently owned by institutional investors and hedge funds.

Datadog Price Performance

DDOG stock traded down $0.70 during midday trading on Tuesday, reaching $115.77. The company had a trading volume of 1,283,022 shares, compared to its average volume of 4,358,345. The firm has a 50-day moving average price of $101.39 and a 200-day moving average price of $125.45. The company has a market capitalization of $39.98 billion, a P/E ratio of 226.79, a P/E/G ratio of 44.03 and a beta of 1.12. Datadog, Inc. has a 1 year low of $81.63 and a 1 year 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 (EPS) 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 during the quarter, compared to the consensus estimate of $741.73 million. During the same period in the previous year, the firm posted $0.44 EPS. The firm's revenue was up 24.6% compared to the same quarter last year. On average, equities analysts predict that Datadog, Inc. will post 0.34 EPS for the current year.

Insider Buying and Selling at Datadog

In other Datadog news, CRO Sean Michael Walters sold 8,454 shares of the company's stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $102.04, for a total value of $862,646.16. Following the sale, 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 Securities & Exchange Commission, which can be accessed through this link. Also, Director Amit Agarwal sold 25,000 shares of the firm's stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $114.21, for a total value of $2,855,250.00. Following the transaction, the director now directly owns 82,324 shares of the company's stock, valued at approximately $9,402,224.04. This trade represents a 23.29% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 584,867 shares of company stock worth $60,517,652. 11.78% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on DDOG shares. Wells Fargo & Company decreased their target price on Datadog from $140.00 to $115.00 and set an "equal weight" rating for the company in a research note on Wednesday, May 7th. Truist Financial cut their target price on Datadog from $140.00 to $120.00 and set a "hold" rating for the company in a research report on Monday, March 31st. Barclays upped their target price on Datadog from $125.00 to $128.00 and gave the stock an "overweight" rating in a research report on Tuesday, May 6th. Rosenblatt Securities cut their price objective on Datadog from $160.00 to $150.00 and set a "buy" rating for the company in a research report on Monday, May 5th. Finally, Cantor Fitzgerald reissued an "overweight" rating and set a $134.00 target price on shares of Datadog 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 stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus 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.