Alpha Paradigm Partners LLC Makes New $375,000 Investment in Datadog, Inc. (NASDAQ:DDOG)

Alpha Paradigm Partners LLC purchased a new position in Datadog, Inc. (NASDAQ:DDOG – Get Rating) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 4,224 shares of the company’s stock, valued at approximately $375,000.

Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in Datadog by 2.8% during the 3rd quarter. Vanguard Group Inc. now owns 24,146,835 shares of the company’s stock worth $2,143,756,000 after purchasing an additional 654,436 shares during the last quarter. Tiger Global Management LLC grew its stake in Datadog by 218.3% during the 3rd quarter. Tiger Global Management LLC now owns 5,775,031 shares of the company’s stock valued at $512,707,000 after acquiring an additional 3,960,748 shares in the last quarter. Public Investment Fund acquired a new stake in Datadog in the 2nd quarter valued at about $428,470,000. Dragoneer Investment Group LLC lifted its stake in Datadog by 29.6% in the 3rd quarter. Dragoneer Investment Group LLC now owns 4,018,070 shares of the company’s stock worth $356,724,000 after purchasing an additional 917,680 shares in the last quarter. Finally, Durable Capital Partners LP boosted its holdings in shares of Datadog by 3.9% during the 3rd quarter. Durable Capital Partners LP now owns 3,267,227 shares of the company’s stock worth $290,064,000 after purchasing an additional 122,708 shares during the last quarter. 70.93% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CEO Olivier Pomel sold 85,637 shares of the business’s stock in a transaction that occurred on Wednesday, March 8th. The shares were sold at an average price of $72.79, for a total transaction of $6,233,517.23. Following the completion of the sale, the chief executive officer now owns 268,131 shares in the company, valued at approximately $19,517,255.49. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Datadog news, CEO Olivier Pomel sold 85,637 shares of Datadog stock in a transaction that occurred on Wednesday, March 8th. The stock was sold at an average price of $72.79, for a total transaction of $6,233,517.23. Following the transaction, the chief executive officer now owns 268,131 shares of the company’s stock, valued at $19,517,255.49. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO David M. Obstler sold 21,812 shares of the stock in a transaction that occurred on Thursday, March 2nd. The shares were sold at an average price of $73.69, for a total value of $1,607,326.28. Following the completion of the sale, the chief financial officer now directly owns 224,524 shares of the company’s stock, valued at $16,545,173.56. The disclosure for this sale can be found here. Insiders sold a total of 490,776 shares of company stock worth $36,901,671 over the last 90 days. 15.80% of the stock is owned by insiders.

Datadog Price Performance

Shares of DDOG opened at $65.96 on Wednesday. The firm has a market capitalization of $21.10 billion, a price-to-earnings ratio of -412.25 and a beta of 0.99. The firm’s fifty day simple moving average is $74.96 and its 200-day simple moving average is $79.85. Datadog, Inc. has a twelve month low of $61.34 and a twelve month high of $159.00. The company has a current ratio of 3.09, a quick ratio of 3.09 and a debt-to-equity ratio of 0.52.

Datadog (NASDAQ:DDOG – Get Rating) last posted its quarterly earnings results on Thursday, February 16th. The company reported ($0.08) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.09) by $0.01. The company had revenue of $469.40 million for the quarter, compared to analysts’ expectations of $447.02 million. Datadog had a negative return on equity of 2.61% and a negative net margin of 2.99%. Equities analysts forecast that Datadog, Inc. will post -0.09 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Barclays reduced their price objective on Datadog from $98.00 to $83.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 10th. Wedbush began coverage on shares of Datadog in a research report on Wednesday, December 14th. They set an “outperform” rating and a $101.00 price target on the stock. Royal Bank of Canada dropped their price objective on shares of Datadog from $105.00 to $100.00 and set an “outperform” rating for the company in a report on Monday, February 13th. Morgan Stanley reduced their target price on shares of Datadog from $110.00 to $105.00 and set an “overweight” rating on the stock in a research note on Friday, February 17th. Finally, Mizuho lifted their price target on shares of Datadog from $85.00 to $94.00 and gave the company a “buy” rating in a research report on Friday, February 17th. Six investment analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company’s stock. According to MarketBeat.com, Datadog currently has an average rating of “Moderate Buy” and an average target price of $111.79.

Datadog Profile

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Datadog, Inc provides monitoring and analytics platform for developers, information technology operations teams, and business users in the cloud in North America and internationally. The company's SaaS platform integrates and automates infrastructure monitoring, application performance monitoring, log management, and security monitoring to provide real-time observability of its customers technology stack.