MIG Capital LLC Makes New $327,000 Investment in Datadog, Inc. (NASDAQ:DDOG)

MIG Capital LLC bought a new stake in Datadog, Inc. (NASDAQ:DDOG) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm bought 2,286 shares of the company’s stock, valued at approximately $327,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in DDOG. Ilmarinen Mutual Pension Insurance Co increased its stake in Datadog by 50.0% in the fourth quarter. Ilmarinen Mutual Pension Insurance Co now owns 45,000 shares of the company’s stock valued at $6,430,000 after acquiring an additional 15,000 shares during the last quarter. Envestnet Asset Management Inc. increased its stake in shares of Datadog by 81.2% in the 4th quarter. Envestnet Asset Management Inc. now owns 631,192 shares of the company’s stock valued at $90,191,000 after purchasing an additional 282,869 shares during the last quarter. Sit Investment Associates Inc. raised its holdings in shares of Datadog by 4.8% during the 4th quarter. Sit Investment Associates Inc. now owns 26,825 shares of the company’s stock worth $3,833,000 after buying an additional 1,225 shares in the last quarter. Hel Ved Capital Management Ltd lifted its position in shares of Datadog by 244.4% during the 4th quarter. Hel Ved Capital Management Ltd now owns 25,575 shares of the company’s stock worth $3,654,000 after buying an additional 18,150 shares during the last quarter. Finally, KCM Investment Advisors LLC bought a new stake in shares of Datadog during the 4th quarter worth $286,000. 78.29% of the stock is currently owned by institutional investors and hedge funds.

Datadog Stock Performance

Datadog stock opened at $87.93 on Friday. The stock’s 50 day moving average price is $119.52 and its two-hundred day moving average price is $130.33. The stock has a market capitalization of $30.14 billion, a price-to-earnings ratio of 172.42, a PEG ratio of 44.03 and a beta of 1.20. Datadog, Inc. has a 52-week low of $86.57 and a 52-week high of $170.08.

Datadog (NASDAQ:DDOG) last posted its quarterly earnings results on Thursday, February 13th. The company reported $0.13 EPS 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, equities research analysts forecast that Datadog, Inc. will post 0.34 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages have commented on DDOG. DA Davidson boosted their target price on Datadog from $150.00 to $165.00 and gave the stock a “buy” rating in a research note on Monday, February 10th. Guggenheim restated a “neutral” rating on shares of Datadog in a research report on Wednesday, January 22nd. Wolfe Research downgraded shares of Datadog from an “outperform” rating to a “peer perform” rating in a report on Tuesday, February 18th. Citigroup cut their price objective on Datadog from $170.00 to $165.00 and set a “buy” rating on the stock in a report on Friday, February 14th. Finally, Rosenblatt Securities upped their target price on Datadog from $148.00 to $160.00 and gave the stock a “buy” rating in a report on Wednesday, February 12th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, twenty-one have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $157.22.

Insider Activity at Datadog

In related news, CTO Alexis Le-Quoc sold 127,105 shares of Datadog stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $142.78, for a total value of $18,148,051.90. Following the completion of the sale, the chief technology officer now owns 324,778 shares of the company’s stock, valued at approximately $46,371,802.84. This trade represents a 28.13 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Amit Agarwal sold 25,000 shares of the company’s stock in a transaction on Wednesday, January 8th. The stock was sold at an average price of $141.12, for a total transaction of $3,528,000.00. Following the transaction, the director now owns 195,667 shares in the company, valued at approximately $27,612,527.04. The trade was a 11.33 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 601,412 shares of company stock valued at $75,444,584 in the last three months. Corporate insiders own 11.78% of the company’s stock.

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.