McGowan Group Asset Management Inc. Invests $3.54 Million in Datadog, Inc. (NASDAQ:DDOG)

McGowan Group Asset Management Inc. acquired a new stake in Datadog, Inc. (NASDAQ:DDOG) during the fourth quarter, HoldingsChannel reports. The fund acquired 24,803 shares of the company’s stock, valued at approximately $3,544,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in DDOG. Retirement Wealth Solutions LLC bought a new stake in shares of Datadog in the fourth quarter valued at approximately $30,000. Avior Wealth Management LLC raised its holdings in Datadog by 55.9% in the 4th quarter. Avior Wealth Management LLC now owns 226 shares of the company’s stock valued at $32,000 after acquiring an additional 81 shares in the last quarter. Coppell Advisory Solutions LLC raised its holdings in Datadog by 178.8% in the 4th quarter. Coppell Advisory Solutions LLC now owns 276 shares of the company’s stock valued at $40,000 after acquiring an additional 177 shares in the last quarter. Kieckhefer Group LLC acquired a new stake in shares of Datadog during the 4th quarter worth $43,000. Finally, Summit Securities Group LLC bought a new position in shares of Datadog in the fourth quarter worth $43,000. 78.29% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms recently commented on DDOG. Rosenblatt Securities dropped their price target on Datadog from $160.00 to $150.00 and set a “buy” rating for the company in a research note on Monday, May 5th. Barclays raised their target price on shares of Datadog from $125.00 to $128.00 and gave the company an “overweight” rating in a report on Tuesday, May 6th. Scotiabank set a $130.00 price target on shares of Datadog and gave the stock an “outperform” rating in a report on Wednesday, May 7th. Canaccord Genuity Group reduced their price target on shares of Datadog from $150.00 to $145.00 and set a “buy” rating on the stock in a research report on Wednesday, May 7th. Finally, Guggenheim restated a “neutral” rating on shares of Datadog in a research note on Wednesday, January 22nd. Seven research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $141.54.

Datadog Stock Performance

NASDAQ:DDOG opened at $113.42 on Tuesday. The firm’s fifty day moving average is $100.17 and its 200-day moving average is $125.76. Datadog, Inc. has a 52 week low of $81.63 and a 52 week high of $170.08. The firm has a market cap of $38.88 billion, a P/E ratio of 222.40, a P/E/G ratio of 44.03 and a beta of 1.12.

Datadog (NASDAQ:DDOG) last issued its quarterly earnings results on Tuesday, May 6th. The company reported $0.46 EPS for the quarter, beating analysts’ consensus estimates of $0.42 by $0.04. Datadog had a net margin of 6.85% and a return on equity of 8.28%. The business had revenue of $761.55 million for the quarter, compared to analysts’ expectations of $741.73 million. During the same quarter in the prior year, the firm posted $0.44 earnings per share. The business’s quarterly revenue was up 24.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that Datadog, Inc. will post 0.34 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Olivier Pomel sold 107,365 shares of the stock in a transaction on Monday, April 7th. The shares were sold at an average price of $87.33, for a total transaction of $9,376,185.45. Following the transaction, the chief executive officer now directly owns 563,598 shares of the company’s stock, valued at $49,219,013.34. This represents a 16.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO Alexis Le-Quoc sold 127,105 shares of the firm’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. Insiders sold 559,867 shares of company stock valued at $57,550,902 over the last 90 days. Company insiders own 11.78% of the company’s stock.

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.