Square Peg Capital PTY Ltd. Purchases New Stake in Datadog, Inc. (NASDAQ:DDOG)

Square Peg Capital PTY Ltd. bought a new stake in Datadog, Inc. (NASDAQ:DDOG) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 81,008 shares of the company’s stock, valued at approximately $11,575,000. Datadog accounts for about 10.6% of Square Peg Capital PTY Ltd.’s investment portfolio, making the stock its 7th biggest holding.

Several other institutional investors and hedge funds have also made changes to their positions in DDOG. Groupama Asset Managment boosted its stake in shares of Datadog by 407.6% in the fourth quarter. Groupama Asset Managment now owns 6,600,000 shares of the company’s stock valued at $943,074,000 after purchasing an additional 5,299,688 shares during the period. Janus Henderson Group PLC grew its stake in Datadog by 17,477.2% during the 4th quarter. Janus Henderson Group PLC now owns 4,016,558 shares of the company’s stock valued at $573,923,000 after purchasing an additional 3,993,707 shares in the last quarter. Norges Bank acquired a new stake in Datadog during the 4th quarter valued at approximately $462,910,000. Jennison Associates LLC grew its stake in Datadog by 47.9% during the 4th quarter. Jennison Associates LLC now owns 9,278,648 shares of the company’s stock valued at $1,325,826,000 after purchasing an additional 3,005,300 shares in the last quarter. Finally, Brown Advisory Inc. grew its stake in Datadog by 2,804.2% during the 4th quarter. Brown Advisory Inc. now owns 2,749,174 shares of the company’s stock valued at $392,830,000 after purchasing an additional 2,654,512 shares in the last quarter. 78.29% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Datadog

In other news, CEO Olivier Pomel sold 107,365 shares of the company’s stock in a transaction on Monday, April 7th. The stock was sold at an average price of $87.33, for a total value of $9,376,185.45. Following the completion of the sale, the chief executive officer now owns 563,598 shares in the company, valued at $49,219,013.34. This represents a 16.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, 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 sale, the director now owns 82,324 shares of the company’s stock, valued at approximately $9,538,058.64. This trade represents a 10.99% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 559,867 shares of company stock valued at $57,550,902. Company insiders own 11.78% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on DDOG. Needham & Company LLC lowered their price objective on Datadog from $160.00 to $130.00 and set a “buy” rating for the company in a research note on Wednesday, May 7th. JMP Securities restated a “market perform” rating on shares of Datadog in a research note on Friday, February 14th. Barclays boosted their target price on shares of Datadog from $125.00 to $128.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 6th. Jefferies Financial Group reissued a “buy” rating on shares of Datadog in a research report on Tuesday, May 6th. Finally, Stifel Nicolaus set a $120.00 target price on shares of Datadog in a research report on Tuesday, May 6th. Seven investment analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the stock. Based on data from MarketBeat, Datadog has a consensus rating of “Moderate Buy” and an average price target of $141.54.

Datadog Price Performance

Shares of DDOG stock opened at $117.14 on Friday. The firm has a market capitalization of $40.15 billion, a price-to-earnings ratio of 229.69, a price-to-earnings-growth ratio of 44.03 and a beta of 1.12. The business has a 50 day simple moving average of $100.79 and a 200 day simple moving average of $125.59. Datadog, Inc. has a 12-month low of $81.63 and a 12-month high of $170.08.

Datadog (NASDAQ:DDOG) last released its earnings results 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 for the quarter, compared to analysts’ expectations of $741.73 million. Datadog had a net margin of 6.85% and a return on equity of 8.28%. Datadog’s quarterly revenue was up 24.6% on a year-over-year basis. During the same quarter last year, the company earned $0.44 EPS. On average, 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.