81,008 Shares in Datadog, Inc. (NASDAQ:DDOG) Bought by Square Peg Capital PTY Ltd.

Square Peg Capital PTY Ltd. bought a new stake in Datadog, Inc. (NASDAQ:DDOG - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 81,008 shares of the company's stock, valued at approximately $11,575,000. Datadog comprises 10.6% of Square Peg Capital PTY Ltd.'s portfolio, making the stock its 7th largest position.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Datadog by 1.2% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 11,883 shares of the company's stock worth $1,698,000 after purchasing an additional 137 shares during the last quarter. Wedmont Private Capital grew its holdings in shares of Datadog by 8.3% during the fourth quarter. Wedmont Private Capital now owns 2,149 shares of the company's stock worth $302,000 after purchasing an additional 164 shares during the last quarter. SeaCrest Wealth Management LLC grew its holdings in shares of Datadog by 37.1% during the fourth quarter. SeaCrest Wealth Management LLC now owns 3,387 shares of the company's stock worth $484,000 after purchasing an additional 916 shares during the last quarter. Assenagon Asset Management S.A. grew its holdings in shares of Datadog by 55.5% during the fourth quarter. Assenagon Asset Management S.A. now owns 355,866 shares of the company's stock worth $50,850,000 after purchasing an additional 126,952 shares during the last quarter. Finally, Park Avenue Securities LLC grew its holdings in shares of Datadog by 102.6% during the fourth quarter. Park Avenue Securities LLC now owns 16,160 shares of the company's stock worth $2,309,000 after purchasing an additional 8,185 shares during the last quarter. Institutional investors own 78.29% of the company's stock.

Insider Activity

In other news, CTO Alexis Le-Quoc sold 127,105 shares of the business's stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $102.15, for a total transaction of $12,983,775.75. Following the completion of the sale, the chief technology officer now owns 371,865 shares in the company, valued at $37,986,009.75. The trade was a 25.47% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Amit Agarwal sold 10,167 shares of the business's stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $115.86, for a total value of $1,177,948.62. Following 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. Insiders sold a total of 584,867 shares of company stock worth $60,517,652 over the last quarter. 11.78% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

DDOG has been the topic of several research reports. Wells Fargo & Company reduced their price target on Datadog from $140.00 to $115.00 and set an "equal weight" rating on the stock in a report on Wednesday, May 7th. Wolfe Research cut Datadog from an "outperform" rating to a "peer perform" rating in a report on Tuesday, February 18th. Jefferies Financial Group restated a "buy" rating on shares of Datadog in a report on Tuesday, May 6th. DA Davidson lifted their price objective on Datadog from $115.00 to $125.00 and gave the stock a "buy" rating in a research note on Monday, May 5th. Finally, Macquarie cut their price objective on Datadog from $175.00 to $140.00 and set an "outperform" rating on the stock in a research note on Wednesday, May 7th. Seven equities research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the stock. Based on data from MarketBeat.com, Datadog currently has an average rating of "Moderate Buy" and a consensus price target of $141.54.

Datadog Stock Down 1.0%

DDOG traded down $1.21 during trading on Monday, hitting $116.46. The company's stock had a trading volume of 4,864,193 shares, compared to its average volume of 4,370,451. Datadog, Inc. has a twelve month low of $81.63 and a twelve month high of $170.08. The stock's fifty day moving average price is $101.10 and its 200-day moving average price is $125.50. The firm has a market capitalization of $40.22 billion, a P/E ratio of 228.36, a PEG 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 EPS for the quarter, beating the consensus estimate of $0.42 by $0.04. The firm had revenue of $761.55 million during the quarter, compared to the consensus estimate of $741.73 million. Datadog had a return on equity of 8.28% and a net margin of 6.85%. The company's quarterly revenue was up 24.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.44 earnings per share. Equities research analysts expect that Datadog, Inc. will post 0.34 EPS for the current fiscal year.

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.