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

Square Peg Capital PTY Ltd. bought a new stake in shares of Datadog, Inc. (NASDAQ:DDOG) in the 4th quarter, HoldingsChannel reports. The firm 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 holdings, making the stock its 7th largest position.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Retirement Wealth Solutions LLC purchased a new position in Datadog during the 4th quarter worth approximately $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 in the last quarter. Coppell Advisory Solutions LLC grew its position in Datadog by 178.8% during the 4th quarter. Coppell Advisory Solutions LLC now owns 276 shares of the company’s stock worth $40,000 after purchasing an additional 177 shares in the last quarter. Summit Securities Group LLC purchased a new position in Datadog during the 4th quarter worth approximately $43,000. Finally, Itau Unibanco Holding S.A. grew its position in Datadog by 417.7% during the 4th quarter. Itau Unibanco Holding S.A. now owns 321 shares of the company’s stock worth $46,000 after purchasing an additional 259 shares in the last quarter. 78.29% of the stock is owned by institutional investors and hedge funds.

Datadog Stock Down 1.6%

NASDAQ DDOG opened at $117.14 on Friday. The stock has a market capitalization of $40.15 billion, a PE ratio of 229.69, a price-to-earnings-growth ratio of 44.03 and a beta of 1.12. The company has a 50 day moving average price of $100.79 and a two-hundred day moving average price 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 issued its quarterly earnings data on Tuesday, May 6th. The company reported $0.46 EPS for the quarter, beating analysts’ consensus estimates of $0.42 by $0.04. The business had revenue of $761.55 million for the quarter, compared to analyst estimates of $741.73 million. Datadog had a return on equity of 8.28% and a net margin of 6.85%. The firm’s revenue for the quarter was up 24.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.44 EPS. As a group, equities analysts anticipate that Datadog, Inc. will post 0.34 EPS for the current year.

Insider Activity

In other news, CEO Olivier Pomel sold 107,365 shares of the business’s 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 completion of the sale, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CTO Alexis Le-Quoc sold 127,105 shares of the business’s stock in a transaction on Wednesday, May 7th. The stock was sold at an average price of $105.83, for a total transaction of $13,451,522.15. Following the completion of the sale, the chief technology officer now owns 466,535 shares of the company’s stock, valued at $49,373,399.05. The trade was a 21.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 559,867 shares of company stock valued at $57,550,902. Insiders own 11.78% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on DDOG. Barclays lifted their price objective 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. Wedbush lowered their price objective on shares of Datadog from $155.00 to $140.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 7th. Royal Bank of Canada reiterated an “outperform” rating and issued a $119.00 target price on shares of Datadog in a report on Wednesday, May 7th. DA Davidson upped their target price on Datadog from $115.00 to $125.00 and gave the company a “buy” rating in a report on Monday, May 5th. Finally, Scotiabank set a $130.00 target price on Datadog and gave the company an “outperform” rating in a report on Wednesday, May 7th. Seven research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the stock. According to MarketBeat.com, Datadog has an average 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.