Tidal Investments LLC Buys 41,626 Shares of Datadog, Inc. (NASDAQ:DDOG)

Tidal Investments LLC lifted its stake in shares of Datadog, Inc. (NASDAQ:DDOG) by 317.1% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 54,754 shares of the company’s stock after purchasing an additional 41,626 shares during the period. Tidal Investments LLC’s holdings in Datadog were worth $6,768,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in DDOG. Blue Trust Inc. raised its position in Datadog by 40.7% during the fourth quarter. Blue Trust Inc. now owns 1,023 shares of the company’s stock worth $124,000 after acquiring an additional 296 shares in the last quarter. Caprock Group LLC acquired a new stake in Datadog in the 4th quarter valued at about $247,000. Fifth Third Bancorp grew its holdings in Datadog by 815.0% during the fourth quarter. Fifth Third Bancorp now owns 1,885 shares of the company’s stock worth $229,000 after purchasing an additional 1,679 shares during the period. StoneCrest Wealth Management Inc. bought a new stake in Datadog in the 4th quarter valued at $945,000. Finally, Black Swift Group LLC bought a new position in Datadog during the fourth quarter worth $3,641,000. Institutional investors and hedge funds own 78.29% of the company’s stock.

Datadog Stock Down 1.7 %

Datadog stock traded down $2.03 during midday trading on Thursday, reaching $114.41. The stock had a trading volume of 787,874 shares, compared to its average volume of 4,012,230. The company has a current ratio of 3.43, a quick ratio of 3.43 and a debt-to-equity ratio of 0.34. Datadog, Inc. has a 12 month low of $77.81 and a 12 month high of $138.61. The company has a fifty day moving average price of $120.89 and a two-hundred day moving average price of $123.87. The company has a market capitalization of $38.27 billion, a P/E ratio of 363.88, a PEG ratio of 37.76 and a beta of 1.11.

Datadog (NASDAQ:DDOG) last posted its earnings results on Tuesday, May 7th. The company reported $0.16 EPS for the quarter, topping the consensus estimate of ($0.04) by $0.20. Datadog had a net margin of 5.11% and a return on equity of 7.48%. The company had revenue of $611.25 million during the quarter, compared to the consensus estimate of $589.97 million. As a group, equities analysts expect that Datadog, Inc. will post 0.32 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Rosenblatt Securities reissued a “buy” rating and issued a $146.00 price objective on shares of Datadog in a research report on Monday, May 6th. Stifel Nicolaus restated a “buy” rating and issued a $152.00 price target on shares of Datadog in a research note on Monday, April 22nd. Monness Crespi & Hardt reaffirmed a “sell” rating and set a $98.00 target price (down from $290.00) on shares of Datadog in a report on Friday, June 14th. Loop Capital restated a “buy” rating and set a $160.00 price objective on shares of Datadog in a research note on Friday, July 5th. Finally, JMP Securities upgraded Datadog to a “hold” rating in a research report on Wednesday, May 8th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-nine have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Datadog has a consensus rating of “Moderate Buy” and a consensus price target of $138.37.

Insider Transactions at Datadog

In related news, insider Madre Armelle De sold 300 shares of the company’s stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $113.37, for a total transaction of $34,011.00. Following the completion of the sale, the insider now owns 100,053 shares in the company, valued at $11,343,008.61. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Datadog news, CEO Olivier Pomel sold 85,637 shares of Datadog stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $125.41, for a total transaction of $10,739,736.17. Following the transaction, the chief executive officer now owns 337,247 shares of the company’s stock, valued at approximately $42,294,146.27. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Madre Armelle De sold 300 shares of the stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $113.37, for a total value of $34,011.00. Following the sale, the insider now directly owns 100,053 shares of the company’s stock, valued at $11,343,008.61. The disclosure for this sale can be found here. Insiders sold a total of 857,606 shares of company stock valued at $103,799,779 over the last ninety days. 11.78% of the stock is currently owned by insiders.

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.