Worldquant Millennium Advisors LLC Buys Shares of 150,984 Datadog, Inc. (NASDAQ:DDOG)

Worldquant Millennium Advisors LLC bought a new stake in Datadog, Inc. (NASDAQ:DDOG) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 150,984 shares of the company’s stock, valued at approximately $21,574,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in DDOG. Merit Financial Group LLC acquired a new position in shares of Datadog in the fourth quarter worth $343,000. HB Wealth Management LLC grew its stake in shares of Datadog by 20.0% in the fourth quarter. HB Wealth Management LLC now owns 2,428 shares of the company’s stock worth $347,000 after acquiring an additional 404 shares in the last quarter. Perpetual Ltd acquired a new position in shares of Datadog in the fourth quarter worth $355,000. Atomi Financial Group Inc. grew its stake in shares of Datadog by 70.7% in the fourth quarter. Atomi Financial Group Inc. now owns 6,541 shares of the company’s stock worth $935,000 after acquiring an additional 2,709 shares in the last quarter. Finally, Dakota Wealth Management acquired a new position in shares of Datadog in the fourth quarter worth $435,000. Hedge funds and other institutional investors own 78.29% of the company’s stock.

Datadog Price Performance

Shares of DDOG opened at $116.29 on Wednesday. Datadog, Inc. has a 1-year low of $81.63 and a 1-year high of $170.08. The stock has a market cap of $40.16 billion, a PE ratio of 228.02, a price-to-earnings-growth ratio of 44.03 and a beta of 1.12. The firm has a fifty day moving average price of $101.74 and a 200 day moving average price of $125.39.

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 analysts’ consensus estimates of $0.42 by $0.04. The firm had revenue of $761.55 million during 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% compared to the same quarter last year. During the same period in the previous year, the company earned $0.44 earnings per share. As a group, equities analysts expect that Datadog, Inc. will post 0.34 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms have commented on DDOG. Morgan Stanley dropped their price target on shares of Datadog from $143.00 to $115.00 and set an “equal weight” rating for the company in a research note on Wednesday, April 16th. Wolfe Research downgraded shares of Datadog from an “outperform” rating to a “peer perform” rating in a research note on Tuesday, February 18th. Truist Financial dropped their price target on shares of Datadog from $140.00 to $120.00 and set a “hold” rating for the company in a research note on Monday, March 31st. UBS Group boosted their price target on shares of Datadog from $120.00 to $125.00 and gave the stock a “buy” rating in a research note on Wednesday, May 7th. Finally, Macquarie decreased their price objective on shares of Datadog from $175.00 to $140.00 and set an “outperform” rating for the company in a research report on Wednesday, May 7th. Seven equities research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $141.54.

Insider Buying and Selling at Datadog

In other Datadog news, CEO Olivier Pomel sold 107,365 shares of Datadog stock in a transaction on Friday, March 7th. The shares were sold at an average price of $109.56, for a total value of $11,762,909.40. Following the transaction, the chief executive officer now directly owns 435,793 shares in the company, valued at approximately $47,745,481.08. The trade was a 19.77% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Amit Agarwal sold 25,000 shares of Datadog stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $114.21, for a total transaction of $2,855,250.00. Following the completion of the transaction, the director now owns 82,324 shares in the company, valued at approximately $9,402,224.04. This represents a 23.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 584,867 shares of company stock worth $60,517,652. 11.78% of the stock is owned by company insiders.

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.