Voleon Capital Management LP Purchases Shares of 5,759 Datadog, Inc. (NASDAQ:DDOG)

Voleon Capital Management LP acquired a new stake in Datadog, Inc. (NASDAQ:DDOG - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 5,759 shares of the company's stock, valued at approximately $823,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of DDOG. Retirement Wealth Solutions LLC bought a new position in Datadog during the 4th quarter valued at approximately $30,000. Avior Wealth Management LLC raised its holdings in shares of Datadog by 55.9% during the fourth quarter. Avior Wealth Management LLC now owns 226 shares of the company's stock valued at $32,000 after acquiring an additional 81 shares in the last quarter. Coppell Advisory Solutions LLC lifted its stake in Datadog by 178.8% in the fourth quarter. Coppell Advisory Solutions LLC now owns 276 shares of the company's stock worth $40,000 after acquiring an additional 177 shares during the period. Kieckhefer Group LLC bought a new stake in Datadog in the fourth quarter valued at $43,000. Finally, Summit Securities Group LLC purchased a new position in Datadog during the 4th quarter valued at $43,000. 78.29% of the stock is owned by institutional investors.

Datadog Stock Performance

DDOG stock opened at $106.32 on Friday. The company has a market cap of $36.44 billion, a price-to-earnings ratio of 208.47, a P/E/G ratio of 44.03 and a beta of 1.20. The business's 50-day moving average is $101.14 and its two-hundred day moving average is $126.62. Datadog, Inc. has a fifty-two week low of $81.63 and a fifty-two week high of $170.08.

Datadog (NASDAQ:DDOG - Get Free Report) last posted its quarterly earnings data 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 predict that Datadog, Inc. will post 0.34 earnings per share for the current year.

Insider Transactions at Datadog

In related news, Director Amit Agarwal sold 10,167 shares of the company's stock in a transaction 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 completion of the transaction, 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 sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CTO Alexis Le-Quoc sold 127,105 shares of the firm's stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $142.78, for a total value of $18,148,051.90. Following the sale, the chief technology officer now directly owns 324,778 shares in the company, valued at approximately $46,371,802.84. This represents a 28.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 512,561 shares of company stock worth $57,166,767 in the last three months. Corporate insiders own 11.78% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on DDOG. Royal Bank of Canada lifted their target price on shares of Datadog from $151.00 to $170.00 and gave the company an "outperform" rating in a research note on Friday, January 3rd. Needham & Company LLC reissued a "buy" rating and issued a $160.00 target price on shares of Datadog in a research report on Tuesday, March 4th. Guggenheim restated a "neutral" rating on shares of Datadog in a research report on Wednesday, January 22nd. Citigroup decreased their price objective on Datadog from $170.00 to $165.00 and set a "buy" rating for the company in a report on Friday, February 14th. Finally, Truist Financial reduced their target price on shares of Datadog from $140.00 to $120.00 and set a "hold" rating on the stock in a research report on Monday, March 31st. Seven analysts have rated the stock with a hold rating, twenty-two have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $150.33.

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.

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