Pallas Capital Advisors LLC Acquires New Position in Datadog, Inc. (NASDAQ:DDOG)

Pallas Capital Advisors LLC bought a new position in Datadog, Inc. (NASDAQ:DDOG) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 2,240 shares of the company’s stock, valued at approximately $278,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. SouthState Corp bought a new stake in Datadog in the 2nd quarter valued at about $26,000. Blue Trust Inc. acquired a new position in shares of Datadog during the second quarter worth approximately $37,000. Versant Capital Management Inc grew its holdings in Datadog by 216.5% in the 2nd quarter. Versant Capital Management Inc now owns 307 shares of the company’s stock worth $40,000 after buying an additional 210 shares in the last quarter. EverSource Wealth Advisors LLC raised its stake in Datadog by 70.2% during the 1st quarter. EverSource Wealth Advisors LLC now owns 308 shares of the company’s stock valued at $39,000 after acquiring an additional 127 shares in the last quarter. Finally, ORG Partners LLC acquired a new position in Datadog during the 2nd quarter worth $43,000. 78.29% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Evercore ISI initiated coverage on shares of Datadog in a research note on Monday, July 15th. They set an “outperform” rating and a $150.00 target price on the stock. Loop Capital restated a “buy” rating and issued a $160.00 target price on shares of Datadog in a research report on Friday, July 5th. Cantor Fitzgerald reiterated an “overweight” rating and set a $150.00 price target on shares of Datadog in a research report on Monday, July 22nd. Barclays cut their price objective on Datadog from $145.00 to $140.00 and set an “overweight” rating for the company in a report on Friday, August 9th. Finally, DA Davidson upgraded shares of Datadog from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $115.00 to $140.00 in a research report on Tuesday, October 1st. One analyst has rated the stock with a sell rating, two have given a hold rating, twenty-six have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $142.54.

Insider Activity at Datadog

In other Datadog news, CTO Alexis Le-Quoc sold 127,105 shares of the stock in a transaction on Monday, August 12th. The shares were sold at an average price of $111.66, for a total transaction of $14,192,544.30. Following the transaction, the chief technology officer now directly owns 347,684 shares of the company’s stock, valued at $38,822,395.44. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, CTO Alexis Le-Quoc sold 127,105 shares of the company’s stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $111.66, for a total transaction of $14,192,544.30. Following the completion of the sale, the chief technology officer now owns 347,684 shares in the company, valued at approximately $38,822,395.44. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO David M. Obstler sold 33,333 shares of the firm’s stock in a transaction that occurred on Tuesday, October 8th. The shares were sold at an average price of $125.70, for a total value of $4,189,958.10. Following the completion of the transaction, the chief financial officer now directly owns 314,158 shares in the company, valued at $39,489,660.60. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 529,928 shares of company stock valued at $63,079,091. Insiders own 11.78% of the company’s stock.

Datadog Price Performance

Shares of DDOG stock opened at $123.26 on Friday. Datadog, Inc. has a fifty-two week low of $77.81 and a fifty-two week high of $138.61. The stock’s 50-day moving average is $118.55 and its two-hundred day moving average is $119.47. The firm has a market cap of $41.56 billion, a P/E ratio of 273.92, a PEG ratio of 23.40 and a beta of 1.11.

Datadog (NASDAQ:DDOG) last released its quarterly earnings data on Thursday, August 8th. The company reported $0.43 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 return on equity of 9.01% and a net margin of 6.81%. The firm’s revenue was up 26.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.36 earnings per share. As a group, research analysts expect that Datadog, Inc. will post 0.42 EPS 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.