CloudAlpha Capital Management Limited Hong Kong Acquires 42,300 Shares of Datadog, Inc. (NASDAQ:DDOG)

CloudAlpha Capital Management Limited Hong Kong increased its holdings in Datadog, Inc. (NASDAQ:DDOG) by 427.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 52,200 shares of the company’s stock after purchasing an additional 42,300 shares during the quarter. Datadog makes up approximately 0.6% of CloudAlpha Capital Management Limited Hong Kong’s holdings, making the stock its 24th largest holding. CloudAlpha Capital Management Limited Hong Kong’s holdings in Datadog were worth $6,336,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the business. Vanguard Group Inc. grew its stake in shares of Datadog by 4.7% in the third quarter. Vanguard Group Inc. now owns 26,524,875 shares of the company’s stock worth $2,416,151,000 after purchasing an additional 1,191,742 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of Datadog by 10.3% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 9,985,810 shares of the company’s stock worth $733,957,000 after purchasing an additional 929,566 shares during the last quarter. Sands Capital Management LLC grew its stake in shares of Datadog by 12.5% in the second quarter. Sands Capital Management LLC now owns 4,554,589 shares of the company’s stock worth $448,080,000 after purchasing an additional 505,196 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Datadog by 3.2% in the first quarter. Geode Capital Management LLC now owns 3,610,972 shares of the company’s stock worth $262,001,000 after purchasing an additional 111,651 shares during the last quarter. Finally, Norges Bank bought a new stake in shares of Datadog in the fourth quarter worth about $202,877,000. 78.29% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages recently weighed in on DDOG. Wells Fargo & Company boosted their price objective on shares of Datadog from $100.00 to $130.00 and gave the stock an “equal weight” rating in a report on Friday, February 9th. Canaccord Genuity Group restated a “buy” rating and issued a $150.00 price objective on shares of Datadog in a report on Friday, February 23rd. Royal Bank of Canada raised their price objective on shares of Datadog from $145.00 to $151.00 and gave the company an “outperform” rating in a report on Wednesday, February 14th. Barclays raised their price objective on shares of Datadog from $138.00 to $152.00 and gave the company an “overweight” rating in a report on Wednesday, February 14th. Finally, Robert W. Baird increased their target price on shares of Datadog from $120.00 to $130.00 and gave the company a “neutral” rating in a research report on Wednesday, February 14th. Six analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $130.52.

Insiders Place Their Bets

In other Datadog news, CFO David M. Obstler sold 70,000 shares of Datadog stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $120.73, for a total transaction of $8,451,100.00. Following the completion of the transaction, the chief financial officer now owns 275,191 shares in the company, valued at $33,223,809.43. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Datadog news, CRO Sean Michael Walters sold 10,000 shares of Datadog stock in a transaction dated Thursday, April 11th. The shares were sold at an average price of $129.86, for a total transaction of $1,298,600.00. Following the completion of the transaction, the executive now owns 162,706 shares in the company, valued at $21,129,001.16. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO David M. Obstler sold 70,000 shares of Datadog stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $120.73, for a total transaction of $8,451,100.00. Following the transaction, the chief financial officer now owns 275,191 shares of the company’s stock, valued at approximately $33,223,809.43. The disclosure for this sale can be found here. Over the last quarter, insiders sold 745,984 shares of company stock worth $95,917,681. Insiders own 14.97% of the company’s stock.

Datadog Price Performance

Shares of NASDAQ DDOG traded down $3.40 during midday trading on Wednesday, hitting $123.55. The company had a trading volume of 3,474,501 shares, compared to its average volume of 4,083,473. The company has a quick ratio of 3.17, a current ratio of 3.17 and a debt-to-equity ratio of 0.37. Datadog, Inc. has a twelve month low of $62.60 and a twelve month high of $138.61. The business has a 50-day simple moving average of $126.45 and a two-hundred day simple moving average of $115.43. The firm has a market capitalization of $41.00 billion, a price-to-earnings ratio of 1,036.50 and a beta of 1.15.

Datadog (NASDAQ:DDOG) last announced its quarterly earnings data on Tuesday, February 13th. The company reported $0.44 EPS for the quarter, beating the consensus estimate of $0.43 by $0.01. Datadog had a net margin of 2.28% and a return on equity of 3.79%. The firm had revenue of $589.65 million during the quarter, compared to analysts’ expectations of $568.73 million. During the same quarter last year, the business earned ($0.08) earnings per share. The business’s revenue for the quarter was up 25.6% compared to the same quarter last year. Equities research analysts anticipate that Datadog, Inc. will post -0.14 earnings per share 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.