Los Angeles Capital Management LLC Buys 183,026 Shares of Datadog, Inc. (NASDAQ:DDOG)

Los Angeles Capital Management LLC grew its stake in shares of Datadog, Inc. (NASDAQ:DDOG) by 308.9% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 242,277 shares of the company’s stock after purchasing an additional 183,026 shares during the period. Los Angeles Capital Management LLC owned about 0.07% of Datadog worth $29,408,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Robertson Stephens Wealth Management LLC purchased a new stake in shares of Datadog in the fourth quarter worth $277,000. First Trust Direct Indexing L.P. purchased a new stake in shares of Datadog during the fourth quarter valued at approximately $216,000. Y.D. More Investments Ltd grew its stake in shares of Datadog by 47.3% in the fourth quarter. Y.D. More Investments Ltd now owns 27,535 shares of the company’s stock worth $3,155,000 after acquiring an additional 8,845 shares during the period. Mach 1 Financial Group LLC bought a new stake in shares of Datadog during the 4th quarter valued at about $729,000. Finally, Brighton Jones LLC bought a new stake in Datadog during the fourth quarter valued at about $240,000. 78.29% of the stock is owned by institutional investors.

Datadog Price Performance

Datadog stock traded down $1.19 during midday trading on Friday, reaching $124.27. The company had a trading volume of 3,884,462 shares, compared to its average volume of 3,407,850. The company has a debt-to-equity ratio of 0.37, a current ratio of 3.17 and a quick ratio of 3.17. Datadog, Inc. has a 12-month low of $70.00 and a 12-month high of $138.61. The company has a market capitalization of $41.24 billion, a P/E ratio of 1,035.58 and a beta of 1.14. The firm’s fifty day simple moving average is $125.09 and its 200-day simple moving average is $118.05.

Datadog (NASDAQ:DDOG) last posted its quarterly earnings results on Tuesday, February 13th. The company reported $0.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.43 by $0.01. Datadog had a return on equity of 3.79% and a net margin of 2.28%. The business had revenue of $589.65 million during the quarter, compared to analyst estimates of $568.73 million. During the same period in the prior year, the business earned ($0.08) earnings per share. The business’s revenue was up 25.6% compared to the same quarter last year. As a group, equities analysts anticipate that Datadog, Inc. will post -0.14 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Mizuho increased their price objective on shares of Datadog from $108.00 to $130.00 and gave the company a “neutral” rating in a report on Wednesday, February 14th. BMO Capital Markets restated an “outperform” rating and set a $155.00 price target (up previously from $140.00) on shares of Datadog in a report on Wednesday, February 14th. Royal Bank of Canada upped their price objective on Datadog from $145.00 to $151.00 and gave the stock an “outperform” rating in a report on Wednesday, February 14th. Cantor Fitzgerald reiterated an “overweight” rating and set a $150.00 price objective on shares of Datadog in a research report on Wednesday, April 17th. Finally, Canaccord Genuity Group restated a “buy” rating and issued a $150.00 target price on shares of Datadog in a report on Friday, February 23rd. Five analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $131.70.

Insider Buying and Selling at Datadog

In other news, CEO Olivier Pomel sold 133,315 shares of the company’s stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $129.82, for a total transaction of $17,306,953.30. Following the completion of the transaction, the chief executive officer now directly owns 299,075 shares of the company’s stock, valued at approximately $38,825,916.50. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Datadog news, CFO David M. Obstler sold 70,000 shares of the business’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $120.73, for a total value of $8,451,100.00. Following the transaction, the chief financial officer now directly owns 275,191 shares of the company’s stock, valued at approximately $33,223,809.43. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Olivier Pomel sold 133,315 shares of the stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $129.82, for a total transaction of $17,306,953.30. Following the transaction, the chief executive officer now directly owns 299,075 shares of the company’s stock, valued at $38,825,916.50. The disclosure for this sale can be found here. Insiders sold 759,908 shares of company stock valued at $97,728,997 in the last 90 days. Company insiders own 11.78% of the company’s stock.

Datadog Company 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.