Elequin Capital LP Buys Shares of 240 Datadog, Inc. (NASDAQ:DDOG)

Elequin Capital LP purchased a new position in shares of Datadog, Inc. (NASDAQ:DDOG) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 240 shares of the company’s stock, valued at approximately $34,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in DDOG. Merit Financial Group LLC acquired a new stake in Datadog in the 4th quarter worth approximately $343,000. HB Wealth Management LLC raised its holdings 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 buying an additional 404 shares during the last quarter. Perpetual Ltd acquired a new stake in shares of Datadog during the fourth quarter worth $355,000. Atomi Financial Group Inc. grew its holdings in shares of Datadog by 70.7% during the fourth quarter. Atomi Financial Group Inc. now owns 6,541 shares of the company’s stock valued at $935,000 after buying an additional 2,709 shares during the last quarter. Finally, Dakota Wealth Management purchased a new stake in shares of Datadog during the fourth quarter valued at $435,000. Hedge funds and other institutional investors own 78.29% of the company’s stock.

Datadog Stock Performance

NASDAQ:DDOG opened at $113.69 on Thursday. The stock has a market capitalization of $39.26 billion, a PE ratio of 222.93, a P/E/G ratio of 44.03 and a beta of 1.12. Datadog, Inc. has a fifty-two week low of $81.63 and a fifty-two week high of $170.08. The company has a fifty day moving average of $101.98 and a two-hundred day moving average of $125.31.

Datadog (NASDAQ:DDOG) last released its quarterly earnings results on Tuesday, May 6th. The company reported $0.46 earnings per share for the quarter, topping the consensus estimate of $0.42 by $0.04. Datadog had a net margin of 6.85% and a return on equity of 8.28%. The firm had revenue of $761.55 million during the quarter, compared to the consensus estimate of $741.73 million. During the same quarter in the prior year, the firm earned $0.44 EPS. The company’s revenue for the quarter was up 24.6% on a year-over-year basis. Research analysts forecast that Datadog, Inc. will post 0.34 earnings per share for the current year.

Insider Buying and Selling

In other Datadog news, Director Amit Agarwal sold 10,167 shares of the business’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $115.86, for a total transaction of $1,177,948.62. Following the transaction, the director now owns 82,324 shares of the company’s stock, valued at approximately $9,538,058.64. The trade was a 10.99% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CTO Alexis Le-Quoc sold 127,105 shares of the company’s stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $102.15, for a total value of $12,983,775.75. Following the completion of the sale, the chief technology officer now owns 371,865 shares of the company’s stock, valued at approximately $37,986,009.75. The trade was a 25.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 584,867 shares of company stock worth $60,517,652. 11.78% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on DDOG. Macquarie lowered their price target on Datadog from $175.00 to $140.00 and set an “outperform” rating for the company in a research report on Wednesday, May 7th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $119.00 target price on shares of Datadog in a report on Wednesday, May 7th. Guggenheim reiterated a “neutral” rating on shares of Datadog in a research report on Wednesday, January 22nd. Citigroup reduced their price target on shares of Datadog from $170.00 to $165.00 and set a “buy” rating for the company in a research report on Friday, February 14th. Finally, Scotiabank set a $130.00 price objective on shares of Datadog and gave the company an “outperform” rating in a report on Wednesday, May 7th. Seven investment analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company. According to MarketBeat.com, Datadog presently has an average rating of “Moderate Buy” and an average 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.