Tower Research Capital LLC TRC Raises Stake in Datadog, Inc. (NASDAQ:DDOG)

Tower Research Capital LLC TRC increased its holdings in Datadog, Inc. (NASDAQ:DDOG - Free Report) by 103.3% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 15,755 shares of the company's stock after acquiring an additional 8,005 shares during the period. Tower Research Capital LLC TRC's holdings in Datadog were worth $2,251,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Proficio Capital Partners LLC purchased a new position in shares of Datadog during the 4th quarter worth $14,884,000. ARK Investment Management LLC grew its holdings in shares of Datadog by 62.7% during the 4th quarter. ARK Investment Management LLC now owns 127,290 shares of the company's stock worth $18,188,000 after purchasing an additional 49,050 shares during the period. Y Intercept Hong Kong Ltd grew its holdings in shares of Datadog by 140.1% during the 4th quarter. Y Intercept Hong Kong Ltd now owns 53,116 shares of the company's stock worth $7,590,000 after purchasing an additional 30,998 shares during the period. Baillie Gifford & Co. grew its holdings in shares of Datadog by 15.8% during the 4th quarter. Baillie Gifford & Co. now owns 10,905,133 shares of the company's stock worth $1,558,234,000 after purchasing an additional 1,484,562 shares during the period. Finally, Cullen Frost Bankers Inc. grew its holdings in shares of Datadog by 3.5% during the 4th quarter. Cullen Frost Bankers Inc. now owns 72,489 shares of the company's stock worth $10,358,000 after purchasing an additional 2,451 shares during the period. Institutional investors and hedge funds own 78.29% of the company's stock.

Insider Buying and Selling

In other Datadog news, CTO Alexis Le-Quoc sold 127,105 shares of Datadog stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $102.15, for a total value of $12,983,775.75. Following the transaction, the chief technology officer now directly owns 371,865 shares in the company, valued at approximately $37,986,009.75. This trade represents a 25.47 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Olivier Pomel sold 107,365 shares of Datadog stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now owns 563,598 shares in the company, valued at $49,219,013.34. This trade represents a 16.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 523,756 shares of company stock worth $58,732,500 in the last quarter. 11.78% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on DDOG shares. Cantor Fitzgerald started coverage on Datadog in a research note on Friday, January 17th. They set an "overweight" rating and a $180.00 target price on the stock. Royal Bank of Canada increased their target price on Datadog from $151.00 to $170.00 and gave the stock an "outperform" rating in a research note on Friday, January 3rd. Scotiabank decreased their target price on Datadog from $155.00 to $125.00 and set a "sector outperform" rating on the stock in a research note on Tuesday, April 15th. DA Davidson decreased their target price on Datadog from $165.00 to $115.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. Finally, Citigroup decreased their target price on Datadog from $170.00 to $165.00 and set a "buy" rating on the stock in a research note on Friday, February 14th. Seven investment analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, Datadog presently has a consensus rating of "Moderate Buy" and an average price target of $150.33.

Datadog Price Performance

Shares of NASDAQ DDOG traded up $1.92 during midday trading on Friday, hitting $101.52. 3,025,472 shares of the company's stock were exchanged, compared to its average volume of 4,354,572. Datadog, Inc. has a twelve month low of $81.63 and a twelve month high of $170.08. The company has a market cap of $34.80 billion, a PE ratio of 199.06, a P/E/G ratio of 44.03 and a beta of 1.20. The firm's fifty day simple moving average is $102.74 and its 200-day simple moving average is $127.32.

Datadog (NASDAQ:DDOG - Get Free Report) last released its quarterly earnings results on Thursday, February 13th. The company reported $0.13 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.44 by ($0.31). Datadog had a return on equity of 8.28% and a net margin of 6.85%. Equities analysts anticipate that Datadog, Inc. will post 0.34 EPS for the current fiscal year.

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.