Cache Advisors LLC Acquires New Holdings in Datadog, Inc. (NASDAQ:DDOG)

Cache Advisors LLC bought a new position in Datadog, Inc. (NASDAQ:DDOG) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 25,381 shares of the company’s stock, valued at approximately $3,627,000. Datadog makes up approximately 1.4% of Cache Advisors LLC’s investment portfolio, making the stock its 16th biggest position.

Other large investors have also added to or reduced their stakes in the company. Avior Wealth Management LLC grew its stake 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 buying an additional 81 shares during the last quarter. Elequin Capital LP purchased a new stake in shares of Datadog during the fourth quarter worth about $34,000. Coppell Advisory Solutions LLC increased its holdings in shares of Datadog by 178.8% during the fourth 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. Summit Securities Group LLC purchased a new position in shares of Datadog in the 4th quarter valued at approximately $43,000. Finally, Itau Unibanco Holding S.A. boosted its stake in Datadog by 417.7% in 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 currently owned by institutional investors.

Insiders Place Their Bets

In other Datadog news, Director Matthew Jacobson sold 47,306 shares of the firm’s stock in a transaction on Wednesday, May 7th. The stock was sold at an average price of $107.40, for a total value of $5,080,664.40. Following the completion of the sale, the director now directly owns 25,468 shares of the company’s stock, valued at $2,735,263.20. This trade represents a 65.00% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Amit Agarwal sold 25,000 shares of the company’s stock in a transaction dated Wednesday, May 14th. The shares were sold at an average price of $118.67, for a total transaction of $2,966,750.00. Following the completion of the sale, the director now directly owns 82,324 shares of the company’s stock, valued at $9,769,389.08. This represents a 23.29% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 584,867 shares of company stock valued at $60,517,652 in the last ninety days. 11.78% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Stifel Nicolaus set a $120.00 price target on shares of Datadog in a research note on Tuesday, May 6th. Rosenblatt Securities cut their target price on Datadog from $160.00 to $150.00 and set a “buy” rating on the stock in a research report on Monday, May 5th. UBS Group lifted their price target on Datadog from $120.00 to $125.00 and gave the stock a “buy” rating in a research report on Wednesday, May 7th. Barclays increased their price objective on Datadog from $125.00 to $128.00 and gave the company an “overweight” rating in a report on Tuesday, May 6th. Finally, DA Davidson lifted their target price on Datadog from $115.00 to $125.00 and gave the stock a “buy” rating in a report on Monday, May 5th. Seven analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $141.54.

Datadog Stock Performance

Shares of DDOG stock opened at $114.46 on Friday. Datadog, Inc. has a fifty-two week low of $81.63 and a fifty-two week high of $170.08. The stock’s fifty day moving average is $102.44 and its two-hundred day moving average is $125.16. The firm has a market capitalization of $39.53 billion, a P/E ratio of 224.44, a PEG ratio of 44.03 and a beta of 1.12.

Datadog (NASDAQ:DDOG) last posted 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. The firm had revenue of $761.55 million for the quarter, compared to the consensus estimate of $741.73 million. Datadog had a net margin of 6.85% and a return on equity of 8.28%. The company’s revenue for the quarter was up 24.6% on a year-over-year basis. During the same period last year, the firm posted $0.44 earnings per share. On average, equities analysts forecast that Datadog, Inc. will post 0.34 earnings per share for the current year.

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.