Armistice Capital LLC Grows Position in Datadog, Inc. (NASDAQ:DDOG)

Armistice Capital LLC grew its position in shares of Datadog, Inc. (NASDAQ:DDOG) by 80.9% in the second quarter, according to its most recent filing with the SEC. The fund owned 199,183 shares of the company’s stock after acquiring an additional 89,062 shares during the quarter. Armistice Capital LLC’s holdings in Datadog were worth $25,832,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Dimensional Fund Advisors LP grew its stake in shares of Datadog by 12.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 254,076 shares of the company’s stock worth $30,842,000 after buying an additional 28,394 shares in the last quarter. Janney Montgomery Scott LLC grew its position in Datadog by 373.4% in the fourth quarter. Janney Montgomery Scott LLC now owns 11,172 shares of the company’s stock worth $1,356,000 after acquiring an additional 8,812 shares in the last quarter. Corient Private Wealth LLC increased its stake in Datadog by 4.9% during the fourth quarter. Corient Private Wealth LLC now owns 10,266 shares of the company’s stock worth $1,246,000 after acquiring an additional 484 shares during the last quarter. Quest Partners LLC purchased a new stake in Datadog during the fourth quarter valued at approximately $36,000. Finally, Cambridge Investment Research Advisors Inc. lifted its stake in shares of Datadog by 9.4% in the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 36,590 shares of the company’s stock valued at $4,441,000 after purchasing an additional 3,157 shares during the last quarter. 78.29% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms recently weighed in on DDOG. Loop Capital restated a “buy” rating and set a $160.00 price target on shares of Datadog in a report on Friday, July 5th. Bank of America upgraded shares of Datadog from a “neutral” rating to a “buy” rating and raised their target price for the stock from $143.00 to $155.00 in a report on Thursday, May 30th. BMO Capital Markets reduced their price objective on shares of Datadog from $140.00 to $132.00 and set an “outperform” rating on the stock in a research report on Friday, August 9th. Scotiabank decreased their price objective 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. Finally, UBS Group upped their target price on Datadog from $120.00 to $125.00 and gave the company a “neutral” rating in a research note on Friday, August 9th. Four equities research 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, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $139.88.

Insider Activity at Datadog

In other Datadog 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 value of $1,000,110.80. Following the completion of the transaction, the director now directly 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 accessible through the SEC website. In other news, Director Matthew Jacobson sold 9,256 shares of the company’s stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $108.05, for a total transaction of $1,000,110.80. Following the transaction, the director now directly owns 48,411 shares of the company’s stock, valued at $5,230,808.55. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CTO Alexis Le-Quoc sold 127,105 shares of the firm’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $130.75, for a total value of $16,618,978.75. Following the completion of the sale, the chief technology officer now directly owns 279,025 shares of the company’s stock, valued at approximately $36,482,518.75. The disclosure for this sale can be found here. Insiders have sold a total of 550,096 shares of company stock valued at $67,067,959 over the last quarter. 11.78% of the stock is owned by corporate insiders.

Datadog Stock Performance

NASDAQ DDOG opened at $116.01 on Thursday. The company has a market cap of $39.11 billion, a PE ratio of 362.53, a P/E/G ratio of 28.94 and a beta of 1.11. The firm’s 50 day moving average price is $114.11 and its 200-day moving average price is $119.49. Datadog, Inc. has a 52-week low of $77.81 and a 52-week 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, topping analysts’ consensus estimates of $0.37 by $0.06. Datadog had a return on equity of 9.01% and a net margin of 6.81%. The company had revenue of $645.28 million during the quarter, compared to analyst estimates of $624.92 million. During the same quarter in the prior year, the business earned $0.36 earnings per share. Datadog’s revenue was up 26.7% on a year-over-year basis. On average, analysts forecast that Datadog, Inc. will post 0.42 earnings per share for the current fiscal 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.