Dark Forest Capital Management LP Invests $367,000 in Datadog, Inc. (NASDAQ:DDOG)

Dark Forest Capital Management LP acquired a new stake in Datadog, Inc. (NASDAQ:DDOG) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 2,829 shares of the company’s stock, valued at approximately $367,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Riverview Trust Co purchased a new position in Datadog in the first quarter valued at approximately $26,000. SouthState Corp acquired a new position in shares of Datadog in the 2nd quarter valued at $26,000. Raleigh Capital Management Inc. purchased a new position in shares of Datadog in the 4th quarter valued at $29,000. Jones Financial Companies Lllp acquired a new stake in Datadog during the 4th quarter worth $33,000. Finally, Blue Trust Inc. purchased a new stake in Datadog in the second quarter valued at $37,000. Institutional investors and hedge funds own 78.29% of the company’s stock.

Insider Buying and Selling at Datadog

In other news, CEO Olivier Pomel sold 200,993 shares of the 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 sale, the chief executive officer now directly owns 324,539 shares in the company, valued at $42,517,854.39. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CTO Alexis Le-Quoc sold 127,105 shares of the business’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $111.66, for a total value of $14,192,544.30. Following the completion of the transaction, the chief technology officer now owns 347,684 shares of the company’s stock, valued at approximately $38,822,395.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Olivier Pomel sold 200,993 shares of the firm’s stock in a transaction dated Monday, July 8th. The stock was sold at an average price of $131.01, for a total transaction of $26,332,092.93. Following the sale, the chief executive officer now directly owns 324,539 shares in the company, valued at $42,517,854.39. The disclosure for this sale can be found here. In the last three months, insiders sold 550,096 shares of company stock worth $67,067,959. 11.78% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

DDOG has been the topic of several research reports. UBS Group raised their price objective on Datadog from $120.00 to $125.00 and gave the stock a “neutral” rating in a report on Friday, August 9th. Needham & Company LLC cut their price target on Datadog from $165.00 to $140.00 and set a “buy” rating on the stock in a research report on Friday, August 9th. BTIG Research raised Datadog from a “neutral” rating to a “buy” rating and set a $143.00 price objective for the company in a report on Thursday, August 1st. Monness Crespi & Hardt upgraded shares of Datadog from a “sell” rating to a “neutral” rating in a research report on Wednesday, August 7th. Finally, Scotiabank decreased their price target on shares of Datadog from $145.00 to $135.00 and set a “sector outperform” rating for the company in a research note on Friday, August 9th. Four equities research analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Datadog has a consensus rating of “Moderate Buy” and an average price target of $139.88.

Datadog Price Performance

Shares of NASDAQ:DDOG opened at $114.20 on Friday. The firm has a market capitalization of $38.20 billion, a price-to-earnings ratio of 356.88, a price-to-earnings-growth ratio of 28.94 and a beta of 1.11. The business’s 50 day simple moving average is $113.81 and its 200-day simple moving average is $119.35. Datadog, Inc. has a 12 month low of $77.81 and a 12 month high of $138.61.

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. The company had revenue of $645.28 million for the quarter, compared to analyst estimates of $624.92 million. Datadog had a return on equity of 9.01% and a net margin of 6.81%. Datadog’s revenue was up 26.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.36 earnings per share. On average, equities analysts anticipate that Datadog, Inc. will post 0.42 earnings per share for the current year.

Datadog 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.