Lecap Asset Management Ltd. Acquires Shares of 39,623 Datadog, Inc. (NASDAQ:DDOG)

Lecap Asset Management Ltd. bought a new position in shares of Datadog, Inc. (NASDAQ:DDOG) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 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 portfolio, making the stock its 6th biggest holding.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Baader Bank Aktiengesellschaft lifted its stake in shares of Datadog by 1.5% during the second quarter. Baader Bank Aktiengesellschaft now owns 5,077 shares of the company’s stock worth $657,000 after buying an additional 77 shares during the period. GAMMA Investing LLC lifted its position in Datadog by 19.5% during the third quarter. GAMMA Investing LLC now owns 563 shares of the company’s stock valued at $65,000 after purchasing an additional 92 shares during the period. HB Wealth Management LLC boosted its holdings in Datadog by 5.2% in the second quarter. HB Wealth Management LLC now owns 1,926 shares of the company’s stock valued at $250,000 after purchasing an additional 95 shares during the last quarter. Ameritas Investment Partners Inc. grew its position in Datadog by 1.2% during the 1st quarter. Ameritas Investment Partners Inc. now owns 8,867 shares of the company’s stock worth $1,096,000 after purchasing an additional 103 shares during the period. Finally, WR Wealth Planners LLC raised its stake in shares of Datadog by 31.6% during the 2nd quarter. WR Wealth Planners LLC now owns 433 shares of the company’s stock valued at $56,000 after buying an additional 104 shares during the last quarter. Institutional investors own 78.29% of the company’s stock.

Insiders Place Their Bets

In other news, CTO Alexis Le-Quoc sold 127,105 shares of Datadog stock in a transaction dated Monday, August 12th. The stock was 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 approximately $38,822,395.44. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Datadog news, CEO Olivier Pomel sold 85,637 shares of the stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $104.21, for a total value of $8,924,231.77. Following the sale, the chief executive officer now directly owns 405,314 shares of the company’s stock, valued at approximately $42,237,771.94. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed 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 stock was sold at an average price of $111.66, for a total transaction of $14,192,544.30. Following the sale, the chief technology officer now directly owns 347,684 shares of the company’s stock, valued at approximately $38,822,395.44. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 529,928 shares of company stock worth $63,079,091 in the last quarter. 11.78% of the stock is owned by company insiders.

Datadog Stock Performance

Datadog stock opened at $124.62 on Wednesday. The company has a market capitalization of $41.69 billion, a price-to-earnings ratio of 389.44, a price-to-earnings-growth ratio of 22.85 and a beta of 1.11. The company’s 50 day simple moving average is $117.06 and its 200-day simple moving average is $119.44. Datadog, Inc. has a 1 year low of $77.81 and a 1 year high of $138.61.

Datadog (NASDAQ:DDOG) last announced its earnings results 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 return on equity of 9.01% and a net margin of 6.81%. The company had revenue of $645.28 million for the quarter, compared to analyst estimates of $624.92 million. During the same quarter in the previous year, the company earned $0.36 earnings per share. The firm’s quarterly revenue was up 26.7% compared to the same quarter last year. Equities analysts expect that Datadog, Inc. will post 0.42 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Barclays decreased their price target on Datadog from $145.00 to $140.00 and set an “overweight” rating for the company in a report on Friday, August 9th. Wedbush upgraded Datadog from a “buy” rating to a “strong-buy” rating in a research note on Thursday, October 17th. Loop Capital reiterated a “buy” rating and set a $160.00 price target on shares of Datadog in a research report on Friday, July 5th. BTIG Research upgraded Datadog from a “neutral” rating to a “buy” rating and set a $143.00 price objective for the company in a research report on Thursday, August 1st. Finally, Monness Crespi & Hardt upgraded Datadog from a “sell” rating to a “neutral” rating in a research report on Wednesday, August 7th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-six have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $142.43.

About Datadog

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.