Voloridge Investment Management LLC Buys 555,917 Shares of Datadog, Inc. (NASDAQ:DDOG)

Voloridge Investment Management LLC boosted its stake in shares of Datadog, Inc. (NASDAQ:DDOG) by 2,572.0% in the fourth quarter, Holdings Channel reports. The institutional investor owned 577,531 shares of the company’s stock after purchasing an additional 555,917 shares during the period. Voloridge Investment Management LLC’s holdings in Datadog were worth $82,523,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Allworth Financial LP increased its position in Datadog by 7.7% during the 4th quarter. Allworth Financial LP now owns 1,043 shares of the company’s stock valued at $146,000 after buying an additional 75 shares in the last quarter. Spire Wealth Management increased its position in Datadog by 21.4% during the 4th quarter. Spire Wealth Management now owns 453 shares of the company’s stock valued at $65,000 after buying an additional 80 shares in the last quarter. Avior Wealth Management LLC increased its position in Datadog by 55.9% during the 4th quarter. Avior Wealth Management LLC now owns 226 shares of the company’s stock valued at $32,000 after buying an additional 81 shares in the last quarter. Farther Finance Advisors LLC increased its position in Datadog by 5.2% during the 4th quarter. Farther Finance Advisors LLC now owns 1,853 shares of the company’s stock valued at $265,000 after buying an additional 92 shares in the last quarter. Finally, Parkside Financial Bank & Trust increased its position in Datadog by 16.5% during the 4th quarter. Parkside Financial Bank & Trust now owns 663 shares of the company’s stock valued at $95,000 after buying an additional 94 shares in the last quarter. Institutional investors own 78.29% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have commented on DDOG. Canaccord Genuity Group reduced their target price on Datadog from $150.00 to $145.00 and set a “buy” rating for the company in a report on Wednesday, May 7th. Morgan Stanley reduced their target price on Datadog from $143.00 to $115.00 and set an “equal weight” rating for the company in a report on Wednesday, April 16th. Jefferies Financial Group reissued a “buy” rating on shares of Datadog in a report on Tuesday, May 6th. Needham & Company LLC reduced their target price on Datadog from $160.00 to $130.00 and set a “buy” rating for the company in a report on Wednesday, May 7th. Finally, Citigroup reduced their target price on Datadog from $170.00 to $165.00 and set a “buy” rating for the company in a report on Friday, February 14th. Seven analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $141.54.

Insider Activity

In other news, Director Amit Agarwal sold 10,167 shares of Datadog stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $115.86, for a total value of $1,177,948.62. Following the sale, the director now directly owns 82,324 shares of the company’s stock, valued at approximately $9,538,058.64. The trade was a 10.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Olivier Pomel sold 107,365 shares of the business’s stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $109.56, for a total value of $11,762,909.40. Following the sale, the chief executive officer now directly owns 435,793 shares in the company, valued at $47,745,481.08. The trade was a 19.77% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 584,867 shares of company stock worth $60,517,652 over the last ninety days. Corporate insiders own 11.78% of the company’s stock.

Datadog Stock Performance

NASDAQ DDOG opened at $116.46 on Tuesday. The company has a market capitalization of $40.22 billion, a PE ratio of 228.36, a price-to-earnings-growth ratio of 44.03 and a beta of 1.12. The business’s fifty day moving average is $101.39 and its 200 day moving average is $125.45. Datadog, Inc. has a fifty-two week low of $81.63 and a fifty-two week high of $170.08.

Datadog (NASDAQ:DDOG) last released its earnings results on Tuesday, May 6th. The company reported $0.46 earnings per share for the quarter, beating the consensus estimate of $0.42 by $0.04. Datadog had a return on equity of 8.28% and a net margin of 6.85%. The company had revenue of $761.55 million for the quarter, compared to the consensus estimate of $741.73 million. During the same period in the previous year, the business earned $0.44 earnings per share. Datadog’s quarterly revenue was up 24.6% compared to the same quarter last year. On average, sell-side analysts forecast that Datadog, Inc. will post 0.34 EPS for the current year.

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.