GAMMA Investing LLC Buys 78,876 Shares of Datadog, Inc. (NASDAQ:DDOG)

GAMMA Investing LLC lifted its holdings in Datadog, Inc. (NASDAQ:DDOG) by 9,984.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 79,666 shares of the company’s stock after acquiring an additional 78,876 shares during the period. GAMMA Investing LLC’s holdings in Datadog were worth $7,904,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. MassMutual Private Wealth & Trust FSB increased its holdings in Datadog by 74.0% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 381 shares of the company’s stock valued at $38,000 after buying an additional 162 shares during the period. 111 Capital acquired a new stake in shares of Datadog during the fourth quarter worth $494,000. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Datadog by 32.0% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 15,506 shares of the company’s stock worth $2,216,000 after buying an additional 3,760 shares during the period. Lansforsakringar Fondforvaltning AB publ acquired a new position in Datadog during the fourth quarter valued at $13,285,000. Finally, Siemens Fonds Invest GmbH lifted its position in Datadog by 2.4% during the fourth quarter. Siemens Fonds Invest GmbH now owns 5,856 shares of the company’s stock valued at $844,000 after purchasing an additional 137 shares during the period. 78.29% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Datadog news, CRO Sean Michael Walters sold 8,454 shares of the company’s stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $102.04, for a total value of $862,646.16. Following the completion of the transaction, the executive now directly owns 185,871 shares in the company, valued at $18,966,276.84. This represents a 4.35% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Olivier Pomel sold 107,365 shares of the company’s stock in a transaction that occurred on Monday, April 7th. The stock was sold at an average price of $87.33, for a total transaction of $9,376,185.45. Following the completion of the transaction, the chief executive officer now owns 563,598 shares of the company’s stock, valued at approximately $49,219,013.34. The trade was a 16.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 728,776 shares of company stock worth $78,705,625. 8.70% of the stock is currently owned by corporate insiders.

Datadog Price Performance

DDOG opened at $122.16 on Monday. The company’s 50-day moving average is $105.14 and its 200 day moving average is $124.32. Datadog, Inc. has a fifty-two week low of $81.63 and a fifty-two week high of $170.08. The firm has a market capitalization of $42.19 billion, a P/E ratio of 239.53, a PEG ratio of 44.03 and a beta of 1.01.

Datadog (NASDAQ:DDOG) last announced its quarterly earnings data on Tuesday, May 6th. The company reported $0.46 EPS for the quarter, topping the consensus estimate of $0.42 by $0.04. The business had revenue of $761.55 million for the quarter, compared to analyst estimates 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 quarter in the previous year, the firm posted $0.44 earnings per share. On average, equities research analysts expect that Datadog, Inc. will post 0.34 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on DDOG shares. DA Davidson boosted their target price on shares of Datadog from $115.00 to $125.00 and gave the stock a “buy” rating in a research note on Monday, May 5th. Jefferies Financial Group reiterated a “buy” rating on shares of Datadog in a report on Tuesday, May 6th. Stifel Nicolaus set a $120.00 price objective on shares of Datadog in a report on Tuesday, May 6th. Truist Financial decreased their price objective on shares of Datadog from $140.00 to $120.00 and set a “hold” rating on the stock in a report on Monday, March 31st. Finally, Citigroup decreased their price objective on shares of Datadog from $170.00 to $165.00 and set a “buy” rating on the stock in a report on Friday, February 14th. Seven equities research analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the stock. Based on data from MarketBeat.com, Datadog has an average rating of “Moderate Buy” and an average target price of $141.04.

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.