Fortis Capital Management LLC Makes New $208,000 Investment in Datadog, Inc. (NASDAQ:DDOG)

Fortis Capital Management LLC bought a new position in Datadog, Inc. (NASDAQ:DDOG) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 1,458 shares of the company’s stock, valued at approximately $208,000.

Other hedge funds have also added to or reduced their stakes in the company. True Wealth Design LLC raised its stake in shares of Datadog by 12,000.0% in the third quarter. True Wealth Design LLC now owns 242 shares of the company’s stock worth $28,000 after purchasing an additional 240 shares during the last quarter. Retirement Wealth Solutions LLC purchased a new position in shares of Datadog in the fourth quarter worth $30,000. Avior Wealth Management LLC raised its stake in shares of Datadog by 55.9% in the fourth quarter. Avior Wealth Management LLC now owns 226 shares of the company’s stock worth $32,000 after purchasing an additional 81 shares during the last quarter. Quarry LP purchased a new position in shares of Datadog in the third quarter worth $33,000. Finally, Kieckhefer Group LLC purchased a new position in shares of Datadog in the fourth quarter worth $43,000. 78.29% of the stock is owned by institutional investors.

Datadog Trading Up 1.8 %

NASDAQ DDOG opened at $105.03 on Friday. Datadog, Inc. has a 12 month low of $98.30 and a 12 month high of $170.08. The stock has a market cap of $36.00 billion, a PE ratio of 205.95, a P/E/G ratio of 44.03 and a beta of 1.22. The stock’s 50 day moving average is $126.97 and its 200 day moving average is $130.85.

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

Wall Street Analyst Weigh In

Several research firms have recently weighed in on DDOG. JMP Securities restated a “market perform” rating on shares of Datadog in a research note on Friday, February 14th. Stifel Nicolaus cut Datadog from a “buy” rating to a “hold” rating and decreased their price target for the stock from $165.00 to $140.00 in a research note on Wednesday, January 29th. DA Davidson boosted their price target on Datadog from $150.00 to $165.00 and gave the stock a “buy” rating in a research note on Monday, February 10th. Needham & Company LLC reiterated a “buy” rating and set a $160.00 price objective on shares of Datadog in a research report on Tuesday, March 4th. Finally, Morgan Stanley reiterated an “equal weight” rating and set a $143.00 price objective on shares of Datadog in a research report on Thursday, January 16th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, twenty-one have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $158.70.

Insiders Place Their Bets

In other news, CEO Olivier Pomel sold 11,195 shares of the stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $139.86, for a total transaction of $1,565,732.70. Following the completion of the transaction, the chief executive officer now directly owns 379,693 shares in the company, valued at approximately $53,103,862.98. This represents a 2.86 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO Alexis Le-Quoc sold 127,105 shares of the stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $102.15, for a total value of $12,983,775.75. Following the transaction, the chief technology officer now owns 371,865 shares of the company’s stock, valued at $37,986,009.75. This represents a 25.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 626,412 shares of company stock worth $79,144,334 in the last three months. 11.78% of the stock is owned by company insiders.

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.