Valliance Asset Management Ltd Makes New $3.57 Million Investment in Datadog, Inc. (NASDAQ:DDOG)

Valliance Asset Management Ltd purchased a new position in Datadog, Inc. (NASDAQ:DDOG) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 25,000 shares of the company’s stock, valued at approximately $3,572,000. Datadog comprises 6.4% of Valliance Asset Management Ltd’s holdings, making the stock its 4th biggest holding.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Compass Capital Corp MA ADV acquired a new position in Datadog during the 4th quarter worth $257,000. Ieq Capital LLC raised its position in shares of Datadog by 2.8% during the fourth quarter. Ieq Capital LLC now owns 407,835 shares of the company’s stock valued at $58,276,000 after buying an additional 11,164 shares during the last quarter. Private Wealth Partners LLC bought a new stake in Datadog in the fourth quarter valued at about $1,223,000. Good Life Advisors LLC bought a new stake in Datadog in the fourth quarter valued at about $262,000. Finally, Global Retirement Partners LLC increased its stake in Datadog by 73.6% in the fourth quarter. Global Retirement Partners LLC now owns 637 shares of the company’s stock valued at $91,000 after acquiring an additional 270 shares during the period. 78.29% of the stock is currently owned by hedge funds and other institutional investors.

Datadog Stock Performance

Datadog stock opened at $119.67 on Friday. The stock’s 50 day simple moving average is $142.18 and its two-hundred day simple moving average is $131.76. The stock has a market cap of $40.66 billion, a price-to-earnings ratio of 234.66, a PEG ratio of 44.03 and a beta of 1.15. Datadog, Inc. has a fifty-two week low of $98.80 and a fifty-two week high of $170.08.

Datadog (NASDAQ:DDOG) last announced its quarterly earnings data on Thursday, February 13th. The company reported $0.13 earnings per share for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.31). Datadog had a return on equity of 8.28% and a net margin of 6.85%. On average, analysts predict that Datadog, Inc. will post 0.34 earnings per share for the current year.

Insider Activity

In other Datadog news, Director Shardul Shah sold 7,916 shares of the business’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $155.25, for a total value of $1,228,959.00. Following the sale, the director now owns 435,701 shares in the company, valued at $67,642,580.25. The trade was a 1.78 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Kerry Acocella sold 2,488 shares of the company’s stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $158.04, for a total transaction of $393,203.52. Following the sale, the general counsel now owns 68,758 shares in the company, valued at $10,866,514.32. This represents a 3.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 556,674 shares of company stock valued at $82,904,025 in the last 90 days. Company insiders own 11.78% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Wolfe Research cut shares of Datadog from an “outperform” rating to a “peer perform” rating in a research note on Tuesday, February 18th. Stifel Nicolaus cut shares of Datadog from a “buy” rating to a “hold” rating and lowered their target price for the company from $165.00 to $140.00 in a research note on Wednesday, January 29th. Wells Fargo & Company cut shares of Datadog from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $152.00 to $140.00 in a research note on Thursday, February 13th. Royal Bank of Canada upped their price objective on shares of Datadog from $151.00 to $170.00 and gave the stock an “outperform” rating in a research note on Friday, January 3rd. Finally, Cantor Fitzgerald started coverage on shares of Datadog in a research note on Friday, January 17th. They set an “overweight” rating and a $180.00 price objective on the stock. One analyst has rated the stock with a sell rating, seven have given a hold rating, twenty-two have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $158.39.

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.