Manchester Global Management UK Ltd Takes $25.89 Million Position in Datadog, Inc. (NASDAQ:DDOG)

Manchester Global Management UK Ltd acquired a new position in shares of Datadog, Inc. (NASDAQ:DDOG - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 181,179 shares of the company's stock, valued at approximately $25,889,000. Datadog makes up about 3.4% of Manchester Global Management UK Ltd's investment portfolio, making the stock its 14th biggest position. Manchester Global Management UK Ltd owned 0.05% of Datadog at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Wilmington Savings Fund Society FSB purchased a new stake in shares of Datadog during the third quarter worth about $625,000. Blankinship & Foster LLC bought a new position in shares of Datadog during the third quarter valued at $351,000. Tidal Investments LLC boosted its holdings in shares of Datadog by 27.6% during the 3rd quarter. Tidal Investments LLC now owns 28,295 shares of the company's stock valued at $3,256,000 after acquiring an additional 6,119 shares during the last quarter. Peapack Gladstone Financial Corp grew its stake in shares of Datadog by 39.9% in the third quarter. Peapack Gladstone Financial Corp now owns 5,140 shares of the company's stock worth $591,000 after acquiring an additional 1,465 shares during the period. Finally, GAMMA Investing LLC raised its holdings in shares of Datadog by 40.3% during the fourth quarter. GAMMA Investing LLC now owns 790 shares of the company's stock valued at $113,000 after purchasing an additional 227 shares during the last quarter. Hedge funds and other institutional investors own 78.29% of the company's stock.

Datadog Stock Performance

Datadog stock traded up $5.02 during trading hours on Thursday, hitting $99.60. The company had a trading volume of 4,936,207 shares, compared to its average volume of 4,357,194. The firm has a market cap of $34.14 billion, a P/E ratio of 195.30, a P/E/G ratio of 44.03 and a beta of 1.20. The company has a 50-day moving average price of $103.95 and a two-hundred day moving average price of $127.63. Datadog, Inc. has a 1 year low of $81.63 and a 1 year high of $170.08.

Datadog (NASDAQ:DDOG - Get Free Report) last issued its earnings results on Thursday, February 13th. The company reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.44 by ($0.31). Datadog had a return on equity of 8.28% and a net margin of 6.85%. As a group, equities research analysts anticipate that Datadog, Inc. will post 0.34 EPS for the current year.

Insider Buying and Selling

In other news, CEO Olivier Pomel sold 107,365 shares of the business's stock in a transaction dated Monday, April 7th. The stock was sold at an average price of $87.33, for a total transaction of $9,376,185.45. Following the sale, the chief executive officer now owns 563,598 shares in the company, valued at approximately $49,219,013.34. The trade was a 16.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CRO Sean Michael Walters sold 8,454 shares of Datadog stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $102.04, for a total transaction of $862,646.16. Following the completion of the sale, the executive now owns 185,871 shares of the company's stock, valued at $18,966,276.84. This trade represents a 4.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 523,756 shares of company stock worth $58,732,500 in the last ninety days. 11.78% of the stock is owned by insiders.

Analysts Set New Price Targets

DDOG has been the topic of several recent analyst reports. Stifel Nicolaus downgraded shares of Datadog from a "buy" rating to a "hold" rating and decreased their price objective for the company from $165.00 to $140.00 in a research report on Wednesday, January 29th. JMP Securities reaffirmed a "market perform" rating on shares of Datadog in a research note on Friday, February 14th. Scotiabank decreased their target price on Datadog from $155.00 to $125.00 and set a "sector outperform" rating on the stock in a research note on Tuesday, April 15th. Macquarie restated an "outperform" rating and issued a $200.00 price target on shares of Datadog in a research note on Tuesday, February 11th. Finally, Morgan Stanley reduced their price objective on shares of Datadog from $143.00 to $115.00 and set an "equal weight" rating on the stock in a research report on Wednesday, April 16th. Seven analysts have rated the stock with a hold rating, twenty-two have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $150.33.

Datadog 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.