Polar Capital Holdings Plc Acquires 801,135 Shares of Datadog, Inc. (NASDAQ:DDOG)

Polar Capital Holdings Plc lifted its holdings in Datadog, Inc. (NASDAQ:DDOG) by 387.3% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 1,008,005 shares of the company’s stock after purchasing an additional 801,135 shares during the quarter. Polar Capital Holdings Plc owned about 0.30% of Datadog worth $144,034,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the business. ProShare Advisors LLC boosted its position in shares of Datadog by 21.6% during the fourth quarter. ProShare Advisors LLC now owns 357,329 shares of the company’s stock worth $51,059,000 after buying an additional 63,390 shares during the period. Quantinno Capital Management LP raised its position in Datadog by 11.7% in the 4th quarter. Quantinno Capital Management LP now owns 25,069 shares of the company’s stock valued at $3,582,000 after buying an additional 2,634 shares during the last quarter. Panoramic Capital LLC bought a new stake in Datadog in the 4th quarter valued at approximately $5,899,000. Nissay Asset Management Corp Japan ADV boosted its position in Datadog by 4.9% during the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 65,892 shares of the company’s stock worth $9,620,000 after acquiring an additional 3,048 shares during the last quarter. Finally, Newlands Management Operations LLC acquired a new position in Datadog during the 4th quarter worth approximately $454,000. 78.29% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, Director Matthew Jacobson sold 47,306 shares of the stock in a transaction that occurred on Wednesday, May 7th. The stock was sold at an average price of $107.40, for a total value of $5,080,664.40. Following the transaction, the director now owns 25,468 shares of the company’s stock, valued at $2,735,263.20. This represents a 65.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO Alexis Le-Quoc sold 127,105 shares of the company’s stock in a transaction dated Wednesday, May 7th. The stock was sold at an average price of $105.83, for a total transaction of $13,451,522.15. Following the completion of the sale, the chief technology officer now directly owns 466,535 shares of the company’s stock, valued at approximately $49,373,399.05. This trade represents a 21.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 559,867 shares of company stock valued at $57,550,902. Company insiders own 11.78% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Truist Financial decreased their price objective on Datadog from $140.00 to $120.00 and set a “hold” rating for the company in a report on Monday, March 31st. Scotiabank set a $130.00 price target on Datadog and gave the company an “outperform” rating in a research report on Wednesday, May 7th. Jefferies Financial Group restated a “buy” rating on shares of Datadog in a research note on Tuesday, May 6th. Stifel Nicolaus set a $120.00 price target on Datadog in a research report on Tuesday, May 6th. Finally, Macquarie cut their price objective on Datadog from $175.00 to $140.00 and set an “outperform” rating for the company in a report on Wednesday, May 7th. Seven equities research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $141.54.

Datadog Trading Up 1.5%

Shares of NASDAQ DDOG opened at $119.09 on Thursday. Datadog, Inc. has a 12-month low of $81.63 and a 12-month high of $170.08. The firm has a market capitalization of $40.82 billion, a price-to-earnings ratio of 233.51, a price-to-earnings-growth ratio of 44.03 and a beta of 1.12. The firm has a 50 day moving average of $100.48 and a 200 day moving average of $125.66.

Datadog (NASDAQ:DDOG) last issued its quarterly earnings results on Tuesday, May 6th. The company reported $0.46 earnings per share for the quarter, beating the consensus estimate of $0.42 by $0.04. Datadog had a net margin of 6.85% and a return on equity of 8.28%. The business had revenue of $761.55 million for the quarter, compared to the consensus estimate of $741.73 million. During the same quarter in the previous year, the firm earned $0.44 earnings per share. The company’s revenue for the quarter was up 24.6% on a year-over-year basis. Sell-side analysts predict that Datadog, Inc. will post 0.34 EPS for the current year.

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.