Cavalry Management Group LLC Takes $222,000 Position in Datadog, Inc. (NASDAQ:DDOG)

Cavalry Management Group LLC purchased a new stake in shares of Datadog, Inc. (NASDAQ:DDOG) in the second quarter, according to its most recent 13F filing with the SEC. The fund purchased 1,711 shares of the company’s stock, valued at approximately $222,000. Datadog makes up 3.1% of Cavalry Management Group LLC’s investment portfolio, making the stock its 13th largest position.

Other hedge funds have also recently made changes to their positions in the company. Riverview Trust Co purchased a new position in shares of Datadog during the 1st quarter valued at $26,000. SouthState Corp purchased a new position in shares of Datadog during the 2nd quarter valued at $26,000. Raleigh Capital Management Inc. purchased a new position in shares of Datadog during the 4th quarter valued at $29,000. Jones Financial Companies Lllp purchased a new position in shares of Datadog during the 4th quarter valued at $33,000. Finally, Blue Trust Inc. purchased a new position in shares of Datadog during the 2nd quarter valued at $37,000. 78.29% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have recently issued reports on DDOG shares. Needham & Company LLC dropped their price objective on shares of Datadog from $165.00 to $140.00 and set a “buy” rating for the company in a report on Friday, August 9th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $151.00 price objective on shares of Datadog in a report on Friday, August 9th. BMO Capital Markets dropped their price objective on shares of Datadog from $140.00 to $132.00 and set an “outperform” rating for the company in a report on Friday, August 9th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $150.00 price objective on shares of Datadog in a report on Monday, July 22nd. Finally, Evercore ISI started coverage on shares of Datadog in a report on Monday, July 15th. They set an “outperform” rating and a $150.00 price objective for the company. Four investment analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $140.85.

Datadog Trading Up 2.0 %

DDOG stock opened at $116.22 on Thursday. The firm’s 50-day moving average price is $113.49 and its two-hundred day moving average price is $119.20. Datadog, Inc. has a 12-month low of $77.81 and a 12-month high of $138.61. The stock has a market capitalization of $38.88 billion, a price-to-earnings ratio of 363.19, a PEG ratio of 28.94 and a beta of 1.11.

Datadog (NASDAQ:DDOG) last released its quarterly earnings data on Thursday, August 8th. The company reported $0.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $624.92 million. During the same quarter in the previous year, the company earned $0.36 earnings per share. The company’s revenue for the quarter was up 26.7% compared to the same quarter last year. Equities analysts predict that Datadog, Inc. will post 0.42 EPS for the current year.

Insider Buying and Selling at Datadog

In related news, Director Matthew Jacobson sold 9,256 shares of the business’s stock in a transaction dated 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 transaction, the director now owns 48,411 shares in the company, valued at $5,230,808.55. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, Director Matthew Jacobson sold 9,256 shares of the business’s stock in a transaction dated 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 transaction, the director now owns 48,411 shares in the company, valued at $5,230,808.55. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Olivier Pomel sold 85,637 shares of the business’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $104.21, for a total transaction of $8,924,231.77. Following the transaction, the chief executive officer now owns 405,314 shares in the company, valued at approximately $42,237,771.94. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 422,991 shares of company stock worth $50,448,980. 11.78% of the stock is currently owned by company insiders.

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.