FengHe Fund Management Pte. Ltd. Acquires Shares of 24,700 Datadog, Inc. (NASDAQ:DDOG)

FengHe Fund Management Pte. Ltd. acquired a new stake in Datadog, Inc. (NASDAQ:DDOG) in the 1st quarter, Holdings Channel reports. The institutional investor acquired 24,700 shares of the company’s stock, valued at approximately $2,450,000. Datadog accounts for about 0.9% of FengHe Fund Management Pte. Ltd.’s portfolio, making the stock its 23rd largest position.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC lifted its position in Datadog by 32.0% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 15,506 shares of the company’s stock valued at $2,216,000 after purchasing an additional 3,760 shares during the last quarter. LBP AM SA raised its holdings in shares of Datadog by 40.2% during the first quarter. LBP AM SA now owns 419,805 shares of the company’s stock valued at $41,649,000 after acquiring an additional 120,343 shares in the last quarter. Motley Fool Asset Management LLC raised its holdings in shares of Datadog by 149.0% during the first quarter. Motley Fool Asset Management LLC now owns 38,132 shares of the company’s stock valued at $3,783,000 after acquiring an additional 22,818 shares in the last quarter. Envestnet Asset Management Inc. raised its holdings in shares of Datadog by 24.7% during the first quarter. Envestnet Asset Management Inc. now owns 787,344 shares of the company’s stock valued at $78,112,000 after acquiring an additional 156,152 shares in the last quarter. Finally, Total Wealth Planning & Management Inc. bought a new position in shares of Datadog during the fourth quarter valued at approximately $314,000. Institutional investors own 78.29% of the company’s stock.

Datadog Trading Up 0.1%

NASDAQ DDOG opened at $128.96 on Wednesday. Datadog, Inc. has a 12 month low of $81.63 and a 12 month high of $170.08. The stock has a market cap of $44.54 billion, a P/E ratio of 368.47, a P/E/G ratio of 61.66 and a beta of 1.02. The stock’s fifty day moving average price is $135.61 and its 200-day moving average price is $120.59. The company has a current ratio of 3.43, a quick ratio of 2.74 and a debt-to-equity ratio of 0.31.

Datadog (NASDAQ:DDOG) last released its earnings results on Thursday, August 7th. The company reported $0.46 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $0.05. Datadog had a return on equity of 5.04% and a net margin of 4.13%. The firm had revenue of $826.76 million for the quarter, compared to analysts’ expectations of $791.72 million. During the same period in the prior year, the firm posted $0.43 earnings per share. The company’s quarterly revenue was up 28.1% on a year-over-year basis. As a group, equities analysts forecast that Datadog, Inc. will post 0.34 EPS for the current fiscal year.

Insider Transactions at Datadog

In other news, Director Shardul Shah sold 7,924 shares of the stock in a transaction on Tuesday, July 15th. The stock was sold at an average price of $140.80, for a total value of $1,115,699.20. Following the sale, the director directly owned 380,281 shares of the company’s stock, valued at approximately $53,543,564.80. This represents a 2.04% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Titilope Cole sold 2,210 shares of the stock in a transaction on Friday, August 8th. The stock was sold at an average price of $136.59, for a total value of $301,863.90. Following the completion of the sale, the director directly owned 6,347 shares in the company, valued at approximately $866,936.73. This represents a 25.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 813,128 shares of company stock valued at $103,643,782. 8.70% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

DDOG has been the subject of a number of recent analyst reports. UBS Group set a $165.00 target price on Datadog and gave the company a “buy” rating in a report on Thursday, August 7th. Macquarie decreased their target price on Datadog from $175.00 to $140.00 and set an “outperform” rating for the company in a report on Wednesday, May 7th. Royal Bank Of Canada restated an “outperform” rating and set a $119.00 target price on shares of Datadog in a report on Wednesday, May 7th. BTIG Research set a $136.00 target price on Datadog and gave the company a “buy” rating in a report on Tuesday, May 6th. Finally, Cantor Fitzgerald upped their target price on Datadog from $171.00 to $179.00 and gave the company an “overweight” rating in a report on Thursday, August 7th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and twenty-four have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $151.72.

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.