Anomaly Capital Management LP Sells 124,291 Shares of Datadog, Inc. (NASDAQ:DDOG)

Anomaly Capital Management LP lessened its position in Datadog, Inc. (NASDAQ:DDOG) by 17.4% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 590,193 shares of the company’s stock after selling 124,291 shares during the period. Datadog makes up about 2.9% of Anomaly Capital Management LP’s investment portfolio, making the stock its 16th biggest holding. Anomaly Capital Management LP owned about 0.18% of Datadog worth $76,542,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in Datadog by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 27,431,107 shares of the company’s stock worth $3,390,485,000 after acquiring an additional 171,693 shares during the last quarter. Sands Capital Management LLC lifted its position in shares of Datadog by 3.7% in the fourth 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 in the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in Datadog by 9.2% during the second quarter. Massachusetts Financial Services Co. MA now owns 3,944,943 shares of the company’s stock worth $511,620,000 after purchasing an additional 331,808 shares during the last quarter. 1832 Asset Management L.P. grew its position in Datadog by 47.9% in the fourth 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 increased its stake in Datadog by 19.3% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 1,068,070 shares of the company’s stock valued at $138,518,000 after buying an additional 172,887 shares during the last quarter. 78.29% of the stock is currently owned by institutional investors and hedge funds.

Datadog Stock Performance

NASDAQ:DDOG opened at $114.76 on Monday. The company has a market cap of $38.39 billion, a price-to-earnings ratio of 358.63, a PEG ratio of 27.84 and a beta of 1.11. Datadog, Inc. has a fifty-two week low of $77.81 and a fifty-two week high of $138.61. The stock has a fifty day moving average price of $114.64 and a 200-day moving average price of $119.56.

Datadog (NASDAQ:DDOG) last announced its quarterly earnings data on Thursday, August 8th. The company reported $0.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.37 by $0.06. The firm had revenue of $645.28 million for the quarter, compared to the consensus estimate of $624.92 million. Datadog had a net margin of 6.81% and a return on equity of 9.01%. The business’s revenue for the quarter was up 26.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.36 earnings per share. Research analysts predict 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 the company’s stock in a transaction on 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 completion of 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 filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Olivier Pomel sold 200,993 shares of the business’s stock in a transaction on 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 completion of the transaction, the chief executive officer now owns 324,539 shares of the company’s stock, valued at approximately $42,517,854.39. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Matthew Jacobson sold 9,256 shares of the firm’s stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $108.05, for a total transaction of $1,000,110.80. Following the completion of the transaction, the director now owns 48,411 shares of the company’s stock, valued at approximately $5,230,808.55. The disclosure for this sale can be found here. Insiders have sold 556,042 shares of company stock valued at $67,802,495 over the last three months. 11.78% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on DDOG. Mizuho upgraded shares of Datadog from a “neutral” rating to an “outperform” rating and increased their price objective for the stock from $135.00 to $155.00 in a research note on Tuesday, July 16th. Wedbush restated an “outperform” rating and issued a $155.00 price target on shares of Datadog in a research note on Friday, August 9th. Monness Crespi & Hardt upgraded Datadog from a “sell” rating to a “neutral” rating in a research note on Wednesday, August 7th. Royal Bank of Canada reissued an “outperform” rating and issued a $151.00 price objective on shares of Datadog in a report on Friday, August 9th. Finally, Evercore ISI started coverage on shares of Datadog in a research note on Monday, July 15th. They issued an “outperform” rating and a $150.00 target price for the company. Four equities research analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Datadog presently has an average rating of “Moderate Buy” and an average 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.