Interval Partners LP Invests $1.51 Million in Datadog, Inc. (NASDAQ:DDOG)

Interval Partners LP bought a new stake in shares of Datadog, Inc. (NASDAQ:DDOG) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 11,602 shares of the company’s stock, valued at approximately $1,505,000.

Several other hedge funds also recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its stake in shares of Datadog by 0.6% in the first quarter. Vanguard Group Inc. now owns 27,431,107 shares of the company’s stock worth $3,390,485,000 after buying an additional 171,693 shares during the last quarter. Sands Capital Management LLC grew its stake in shares of Datadog by 3.7% during the 4th quarter. Sands Capital Management LLC now owns 4,564,776 shares of the company’s stock worth $554,073,000 after purchasing an additional 162,108 shares during the period. Massachusetts Financial Services Co. MA increased its holdings in shares of Datadog by 9.2% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 3,944,943 shares of the company’s stock valued at $511,620,000 after purchasing an additional 331,808 shares in the last quarter. 1832 Asset Management L.P. increased its holdings in shares of Datadog by 47.9% during the 4th quarter. 1832 Asset Management L.P. now owns 2,619,500 shares of the company’s stock valued at $317,955,000 after purchasing an additional 848,000 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its holdings in Datadog by 19.3% during the second quarter. Allspring Global Investments Holdings LLC now owns 1,068,070 shares of the company’s stock worth $138,518,000 after buying an additional 172,887 shares in the last quarter. 78.29% of the stock is owned by hedge funds and other institutional investors.

Datadog Price Performance

Shares of DDOG stock opened at $116.22 on Tuesday. Datadog, Inc. has a 1-year low of $77.81 and a 1-year high of $138.61. The firm has a market cap of $38.88 billion, a PE ratio of 363.19, a price-to-earnings-growth ratio of 27.84 and a beta of 1.11. The company has a 50-day moving average of $114.38 and a two-hundred day moving average of $119.52.

Datadog (NASDAQ:DDOG) last posted its earnings results on Thursday, August 8th. The company reported $0.43 earnings per share for the quarter, beating the consensus estimate of $0.37 by $0.06. Datadog had a net margin of 6.81% and a return on equity of 9.01%. The firm had revenue of $645.28 million during the quarter, compared to the consensus estimate of $624.92 million. During the same quarter last year, the firm earned $0.36 EPS. The firm’s revenue for the quarter was up 26.7% on a year-over-year basis. Sell-side analysts anticipate that Datadog, Inc. will post 0.41 EPS for the current fiscal year.

Insider Activity at Datadog

In other Datadog news, CEO Olivier Pomel sold 200,993 shares of Datadog stock in a transaction dated Monday, July 8th. The stock was sold at an average price of $131.01, for a total value of $26,332,092.93. Following the completion of the transaction, the chief executive officer now directly owns 324,539 shares of the company’s stock, valued at approximately $42,517,854.39. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, CEO Olivier Pomel sold 200,993 shares of the firm’s stock in a transaction that occurred on Monday, July 8th. The shares were sold at an average price of $131.01, for a total value of $26,332,092.93. Following the completion of the transaction, the chief executive officer now owns 324,539 shares of the company’s stock, valued at $42,517,854.39. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CTO Alexis Le-Quoc sold 127,105 shares of the company’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $130.75, for a total transaction of $16,618,978.75. Following the sale, the chief technology officer now directly owns 279,025 shares in the company, valued at $36,482,518.75. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 556,042 shares of company stock worth $67,802,495. 11.78% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research analysts have weighed in on DDOG shares. Wedbush reaffirmed an “outperform” rating and issued a $155.00 price objective on shares of Datadog in a report on Friday, August 9th. Evercore ISI initiated coverage on Datadog in a report on Monday, July 15th. They issued an “outperform” rating and a $150.00 price target for the company. BTIG Research raised Datadog from a “neutral” rating to a “buy” rating and set a $143.00 price objective on the stock in a report on Thursday, August 1st. Bank of America raised Datadog from a “neutral” rating to a “buy” rating and upped their target price for the stock from $143.00 to $155.00 in a research note on Thursday, May 30th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $151.00 price target on shares of Datadog in a research note on Friday, August 9th. Four 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. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $139.88.

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.