Stonekeep Investments LLC Takes $511,000 Position in Datadog, Inc. (NASDAQ:DDOG)

Stonekeep Investments LLC acquired a new position in Datadog, Inc. (NASDAQ:DDOG) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 3,941 shares of the company’s stock, valued at approximately $511,000.

Other hedge funds also recently bought and sold shares of the company. International Assets Investment Management LLC purchased a new stake in Datadog in the fourth quarter valued at about $1,915,000. Benjamin F. Edwards & Company Inc. grew its position in Datadog by 17.9% during the 4th quarter. Benjamin F. Edwards & Company Inc. now owns 639 shares of the company’s stock worth $78,000 after purchasing an additional 97 shares during the last quarter. Principal Securities Inc. acquired a new position in Datadog during the 4th quarter valued at approximately $326,000. QRG Capital Management Inc. increased its stake in Datadog by 68.4% during the 4th quarter. QRG Capital Management Inc. now owns 7,665 shares of the company’s stock valued at $930,000 after purchasing an additional 3,113 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its position in Datadog by 12.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 254,076 shares of the company’s stock valued at $30,842,000 after acquiring an additional 28,394 shares in the last quarter. Hedge funds and other institutional investors own 78.29% of the company’s stock.

Datadog Price Performance

DDOG stock opened at $107.20 on Monday. Datadog, Inc. has a 1 year low of $77.81 and a 1 year high of $138.61. The firm has a market capitalization of $36.14 billion, a PE ratio of 335.00, a price-to-earnings-growth ratio of 27.25 and a beta of 1.11. The business has a 50 day simple moving average of $118.42 and a 200-day simple moving average of $120.84.

Datadog (NASDAQ:DDOG) last released its quarterly earnings data on Thursday, August 8th. The company reported $0.43 earnings per share for the quarter, topping analysts’ consensus estimates of $0.37 by $0.06. Datadog had a return on equity of 9.01% and a net margin of 6.81%. The company had revenue of $645.28 million for the quarter, compared to analyst estimates of $624.92 million. During the same quarter in the previous year, the company posted $0.36 earnings per share. The firm’s revenue for the quarter was up 26.7% compared to the same quarter last year. On average, equities research analysts expect that Datadog, Inc. will post 0.41 EPS for the current year.

Analyst Ratings Changes

Several equities analysts have recently weighed in on DDOG shares. Evercore ISI assumed coverage on shares of Datadog in a report on Monday, July 15th. They set an “outperform” rating and a $150.00 target price for the company. Barclays cut their price objective on shares of Datadog from $145.00 to $140.00 and set an “overweight” rating for the company in a report on Friday, August 9th. BTIG Research raised shares of Datadog from a “neutral” rating to a “buy” rating and set a $143.00 target price on the stock in a research note on Thursday, August 1st. Scotiabank cut their price target on Datadog from $145.00 to $135.00 and set a “sector outperform” rating for the company in a research note on Friday, August 9th. Finally, Monness Crespi & Hardt raised Datadog from a “sell” rating to a “neutral” rating in a report on Wednesday, August 7th. Four equities research analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $139.88.

Insider Activity at Datadog

In other Datadog news, insider Madre Armelle De sold 1,749 shares of Datadog stock in a transaction dated Thursday, June 27th. The shares were sold at an average price of $125.00, for a total transaction of $218,625.00. Following the transaction, the insider now directly owns 92,025 shares of the company’s stock, valued at $11,503,125. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CRO Sean Michael Walters sold 3,134 shares of the stock in a transaction on Tuesday, June 11th. The stock was sold at an average price of $113.58, for a total transaction of $355,959.72. Following the completion of the transaction, the executive now directly owns 199,772 shares in the company, valued at approximately $22,690,103.76. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Madre Armelle De sold 1,749 shares of the firm’s stock in a transaction dated Thursday, June 27th. The stock was sold at an average price of $125.00, for a total value of $218,625.00. Following the sale, the insider now directly owns 92,025 shares of the company’s stock, valued at $11,503,125. The disclosure for this sale can be found here. Over the last quarter, insiders sold 574,290 shares of company stock valued at $70,074,441. 11.78% of the stock is owned by company insiders.

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.