Lecap Asset Management Ltd. Invests $4.56 Million in Datadog, Inc. (NASDAQ:DDOG)

Lecap Asset Management Ltd. purchased a new stake in Datadog, Inc. (NASDAQ:DDOG) in the third quarter, Holdings Channel.com reports. The institutional investor purchased 39,623 shares of the company’s stock, valued at approximately $4,559,000. Datadog accounts for approximately 1.0% of Lecap Asset Management Ltd.’s holdings, making the stock its 6th biggest holding.

Several other hedge funds also recently added to or reduced their stakes in DDOG. SouthState Corp purchased a new position in shares of Datadog during the second quarter worth about $26,000. Riverview Trust Co acquired a new position in Datadog during the first quarter worth approximately $26,000. Blue Trust Inc. purchased a new stake in Datadog in the second quarter valued at approximately $37,000. Versant Capital Management Inc boosted its holdings in shares of Datadog by 216.5% in the second quarter. Versant Capital Management Inc now owns 307 shares of the company’s stock valued at $40,000 after acquiring an additional 210 shares during the period. Finally, EverSource Wealth Advisors LLC grew its position in shares of Datadog by 70.2% during the first quarter. EverSource Wealth Advisors LLC now owns 308 shares of the company’s stock worth $39,000 after acquiring an additional 127 shares during the last quarter. 78.29% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts recently commented on DDOG shares. Needham & Company LLC reduced their price target on shares of Datadog from $165.00 to $140.00 and set a “buy” rating for the company in a research report on Friday, August 9th. BTIG Research upgraded shares of Datadog from a “neutral” rating to a “buy” rating and set a $143.00 target price for the company in a research note on Thursday, August 1st. Wedbush upgraded Datadog from a “buy” rating to a “strong-buy” rating in a research report on Thursday, October 17th. Scotiabank decreased their price objective on Datadog from $145.00 to $135.00 and set a “sector outperform” rating for the company in a research report on Friday, August 9th. Finally, DA Davidson raised Datadog from a “neutral” rating to a “buy” rating and boosted their target price for the company from $115.00 to $140.00 in a report on Tuesday, October 1st. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-six have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, Datadog has a consensus rating of “Moderate Buy” and a consensus target price of $142.43.

Insider Activity

In other news, CRO Sean Michael Walters sold 2,322 shares of the business’s stock in a transaction that occurred on Tuesday, October 8th. The shares were sold at an average price of $125.00, for a total value of $290,250.00. Following the completion of the transaction, the executive now owns 183,512 shares of the company’s stock, valued at $22,939,000. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CRO Sean Michael Walters sold 2,322 shares of the company’s stock in a transaction on Tuesday, October 8th. The stock was sold at an average price of $125.00, for a total transaction of $290,250.00. Following the completion of the sale, the executive now directly owns 183,512 shares in the company, valued at $22,939,000. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CTO Alexis Le-Quoc sold 127,105 shares of Datadog stock in a transaction on Monday, August 12th. The shares were sold at an average price of $111.66, for a total value of $14,192,544.30. Following the completion of the transaction, the chief technology officer now owns 347,684 shares in the company, valued at $38,822,395.44. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 529,928 shares of company stock worth $63,079,091 over the last three months. 11.78% of the stock is currently owned by corporate insiders.

Datadog Trading Down 0.9 %

Shares of DDOG opened at $124.62 on Wednesday. The company has a 50-day moving average of $117.06 and a two-hundred day moving average of $119.44. The stock has a market cap of $41.69 billion, a P/E ratio of 389.44, a PEG ratio of 22.85 and a beta of 1.11. Datadog, Inc. has a 12-month low of $77.81 and a 12-month high of $138.61.

Datadog (NASDAQ:DDOG) last issued its quarterly earnings data on Thursday, August 8th. The company reported $0.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.37 by $0.06. The firm had revenue of $645.28 million during 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 company’s quarterly revenue was up 26.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.36 EPS. As a group, analysts forecast that Datadog, Inc. will post 0.42 EPS 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.