1,160,033 Shares in Datadog, Inc. (NASDAQ:DDOG) Purchased by Fullerton Fund Management Co Ltd.

Fullerton Fund Management Co Ltd. purchased a new position in Datadog, Inc. (NASDAQ:DDOG) during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 1,160,033 shares of the company’s stock, valued at approximately $165,757,000. Datadog accounts for approximately 5.8% of Fullerton Fund Management Co Ltd.’s holdings, making the stock its 7th biggest position.

A number of other institutional investors also recently bought and sold shares of the business. Retirement Wealth Solutions LLC acquired a new stake in shares of Datadog in the fourth quarter worth $30,000. Avior Wealth Management LLC grew its position in Datadog by 55.9% during the 4th quarter. Avior Wealth Management LLC now owns 226 shares of the company’s stock worth $32,000 after purchasing an additional 81 shares during the period. Coppell Advisory Solutions LLC raised its stake in shares of Datadog by 178.8% during the 4th quarter. Coppell Advisory Solutions LLC now owns 276 shares of the company’s stock valued at $40,000 after buying an additional 177 shares during the last quarter. Kieckhefer Group LLC acquired a new position in shares of Datadog in the 4th quarter valued at about $43,000. Finally, Summit Securities Group LLC purchased a new stake in shares of Datadog in the fourth quarter worth about $43,000. 78.29% of the stock is owned by hedge funds and other institutional investors.

Datadog Stock Performance

NASDAQ DDOG opened at $107.88 on Friday. The stock’s fifty day moving average is $100.20 and its two-hundred day moving average is $125.81. The firm has a market capitalization of $36.98 billion, a P/E ratio of 211.53, a price-to-earnings-growth ratio of 44.03 and a beta of 1.12. Datadog, Inc. has a fifty-two week low of $81.63 and a fifty-two week high of $170.08.

Datadog (NASDAQ:DDOG) last announced its quarterly earnings results on Tuesday, May 6th. The company reported $0.46 earnings per share for the quarter, beating the consensus estimate of $0.42 by $0.04. Datadog had a net margin of 6.85% and a return on equity of 8.28%. The firm had revenue of $761.55 million for the quarter, compared to analysts’ expectations of $741.73 million. During the same quarter in the previous year, the company posted $0.44 EPS. The company’s revenue was up 24.6% compared to the same quarter last year. As a group, sell-side analysts forecast that Datadog, Inc. will post 0.34 EPS for the current year.

Insider Transactions at Datadog

In related news, CRO Sean Michael Walters sold 8,454 shares of the firm’s stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $102.04, for a total transaction of $862,646.16. Following the completion of the sale, the executive now directly owns 185,871 shares of the company’s stock, valued at approximately $18,966,276.84. This trade represents a 4.35 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CTO Alexis Le-Quoc sold 127,105 shares of the company’s stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $102.15, for a total transaction of $12,983,775.75. Following the completion of the transaction, the chief technology officer now directly owns 371,865 shares in the company, valued at $37,986,009.75. The trade was a 25.47 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 559,867 shares of company stock worth $57,550,902 in the last 90 days. Insiders own 11.78% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on DDOG. Citigroup reduced their price target on Datadog from $170.00 to $165.00 and set a “buy” rating for the company in a research report on Friday, February 14th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $134.00 target price on shares of Datadog in a report on Wednesday. Wolfe Research downgraded shares of Datadog from an “outperform” rating to a “peer perform” rating in a report on Tuesday, February 18th. Morgan Stanley cut their price objective on shares of Datadog from $143.00 to $115.00 and set an “equal weight” rating for the company in a report on Wednesday, April 16th. Finally, Barclays increased their target price on shares of Datadog from $125.00 to $128.00 and gave the stock an “overweight” rating in a research note on Tuesday. Seven equities research 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, the company has a consensus rating of “Moderate Buy” and a consensus target price of $141.54.

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.