Fortress Investment Group LLC Takes Position in Datadog, Inc. (NASDAQ:DDOG)

Fortress Investment Group LLC bought a new position in Datadog, Inc. (NASDAQ:DDOG) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 10,000 shares of the company’s stock, valued at approximately $1,429,000. Datadog comprises approximately 0.2% of Fortress Investment Group LLC’s portfolio, making the stock its 10th largest position.

A number of other institutional investors have also recently bought and sold shares of DDOG. Full Sail Capital LLC acquired a new position in shares of Datadog in the 4th quarter valued at $221,000. Fullerton Fund Management Co Ltd. purchased a new stake in Datadog during the fourth quarter valued at about $165,757,000. Ethic Inc. raised its holdings in shares of Datadog by 17.8% in the 4th quarter. Ethic Inc. now owns 16,289 shares of the company’s stock worth $2,328,000 after purchasing an additional 2,457 shares during the period. Fiduciary Trust Co acquired a new position in shares of Datadog in the 4th quarter valued at about $371,000. Finally, First Manhattan CO. LLC. increased its position in Datadog by 3.4% during the 4th quarter. First Manhattan CO. LLC. now owns 5,270 shares of the company’s stock worth $753,000 after purchasing an additional 175 shares in the last quarter. 78.29% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have issued reports on DDOG. Scotiabank set a $130.00 price objective on shares of Datadog and gave the stock an “outperform” rating in a research note on Wednesday. Jefferies Financial Group reissued a “buy” rating on shares of Datadog in a research report on Tuesday. UBS Group upped their target price on Datadog from $120.00 to $125.00 and gave the stock a “buy” rating in a research report on Wednesday. Truist Financial decreased their price target on Datadog from $140.00 to $120.00 and set a “hold” rating for the company in a report on Monday, March 31st. Finally, Morgan Stanley reduced their target price on shares of Datadog from $143.00 to $115.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 16th. Seven research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the stock. According to data from MarketBeat, Datadog presently has a consensus rating of “Moderate Buy” and an average target price of $141.54.

Insider Activity

In other Datadog news, Director Amit Agarwal sold 10,167 shares of the business’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $115.86, for a total transaction of $1,177,948.62. Following the sale, the director now directly owns 82,324 shares in the company, valued at approximately $9,538,058.64. The trade was a 10.99 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO Alexis Le-Quoc sold 127,105 shares of the stock in a transaction that occurred on Wednesday, May 7th. The shares were sold at an average price of $105.83, for a total transaction of $13,451,522.15. Following the completion of the transaction, the chief technology officer now owns 466,535 shares of the company’s stock, valued at $49,373,399.05. This trade represents a 21.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 559,867 shares of company stock valued at $57,550,902. Company insiders own 11.78% of the company’s stock.

Datadog Stock Performance

Shares of DDOG opened at $107.88 on Friday. Datadog, Inc. has a 1 year low of $81.63 and a 1 year high of $170.08. The firm has a fifty day moving average of $100.20 and a 200-day moving average of $125.81. The company has a market cap of $36.98 billion, a price-to-earnings ratio of 211.53, a price-to-earnings-growth ratio of 44.03 and a beta of 1.12.

Datadog (NASDAQ:DDOG) last announced its quarterly earnings results on Tuesday, May 6th. The company reported $0.46 EPS for the quarter, beating 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 company had revenue of $761.55 million for the quarter, compared to analyst estimates of $741.73 million. During the same quarter last year, the business earned $0.44 earnings per share. Datadog’s revenue was up 24.6% compared to the same quarter last year. Analysts predict that Datadog, Inc. will post 0.34 EPS 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.