Syon Capital LLC Acquires New Shares in Datadog, Inc. (NASDAQ:DDOG)

Syon Capital 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 5,490 shares of the company’s stock, valued at approximately $666,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Massachusetts Financial Services Co. MA bought a new stake in Datadog in the 3rd quarter worth approximately $189,668,000. Alkeon Capital Management LLC purchased a new position in shares of Datadog in the 3rd quarter worth approximately $127,526,000. Vanguard Group Inc. boosted its holdings in shares of Datadog by 4.7% in the 3rd 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 period. Westfield Capital Management Co. LP purchased a new position in shares of Datadog in the 3rd quarter worth approximately $44,939,000. Finally, Eagle Asset Management Inc. boosted its holdings in shares of Datadog by 83.5% in the 3rd quarter. Eagle Asset Management Inc. now owns 1,069,224 shares of the company’s stock worth $97,396,000 after purchasing an additional 486,582 shares during the period. 78.29% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. Wells Fargo & Company upgraded Datadog from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $130.00 to $150.00 in a report on Tuesday. Barclays lifted their target price on Datadog from $138.00 to $152.00 and gave the company an “overweight” rating in a research report on Wednesday, February 14th. Robert W. Baird lifted their target price on Datadog from $120.00 to $130.00 and gave the company a “neutral” rating in a research report on Wednesday, February 14th. Truist Financial lifted their target price on Datadog from $140.00 to $155.00 and gave the company a “buy” rating in a research report on Wednesday, February 14th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and set a $152.00 target price on shares of Datadog in a research report on Monday. Five equities research analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $131.70.

Insider Activity at Datadog

In related news, CEO Olivier Pomel sold 23,924 shares of the company’s stock in a transaction that occurred on Tuesday, April 23rd. The stock was sold at an average price of $130.05, for a total value of $3,111,316.20. Following the sale, the chief executive officer now owns 337,247 shares of the company’s stock, valued at approximately $43,858,972.35. The transaction was disclosed in a filing with the SEC, which is available through this link. In other Datadog news, CEO Olivier Pomel sold 23,924 shares of the stock in a transaction on Tuesday, April 23rd. The stock was sold at an average price of $130.05, for a total transaction of $3,111,316.20. Following the transaction, the chief executive officer now owns 337,247 shares of the company’s stock, valued at approximately $43,858,972.35. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CRO Sean Michael Walters sold 10,000 shares of the stock in a transaction on Thursday, April 11th. The stock was sold at an average price of $129.86, for a total value of $1,298,600.00. Following the transaction, the executive now directly owns 162,706 shares in the company, valued at approximately $21,129,001.16. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 759,908 shares of company stock valued at $97,728,997. 14.97% of the stock is owned by corporate insiders.

Datadog Price Performance

Shares of DDOG traded up $6.20 on Friday, reaching $131.45. The stock had a trading volume of 5,011,444 shares, compared to its average volume of 4,045,948. The firm has a market capitalization of $43.62 billion, a PE ratio of 1,089.00 and a beta of 1.15. The company has a quick ratio of 3.17, a current ratio of 3.17 and a debt-to-equity ratio of 0.37. The firm has a 50-day moving average of $125.21 and a 200 day moving average of $116.73. Datadog, Inc. has a twelve month low of $63.00 and a twelve month high of $138.61.

Datadog (NASDAQ:DDOG) last posted its earnings results on Tuesday, February 13th. The company reported $0.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.43 by $0.01. Datadog had a return on equity of 3.79% and a net margin of 2.28%. The firm had revenue of $589.65 million for the quarter, compared to analyst estimates of $568.73 million. During the same quarter in the prior year, the company earned ($0.08) EPS. Datadog’s revenue was up 25.6% on a year-over-year basis. Sell-side analysts expect that Datadog, Inc. will post -0.14 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.