Legato Capital Management LLC Takes Position in Datadog, Inc. (NASDAQ:DDOG)

Legato Capital Management LLC bought a new stake in Datadog, Inc. (NASDAQ:DDOG) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 13,000 shares of the company’s stock, valued at approximately $1,858,000.

A number of other hedge funds have also made changes to their positions in the business. Gladstone Institutional Advisory LLC purchased a new position in shares of Datadog in the 4th quarter valued at $853,000. Weatherly Asset Management L. P. purchased a new stake in Datadog during the 4th quarter worth $239,000. Summit Trail Advisors LLC increased its stake in Datadog by 0.4% during the 4th quarter. Summit Trail Advisors LLC now owns 137,502 shares of the company’s stock worth $19,648,000 after buying an additional 502 shares during the period. Kingsview Wealth Management LLC increased its stake in Datadog by 1.0% during the 4th quarter. Kingsview Wealth Management LLC now owns 11,530 shares of the company’s stock worth $1,648,000 after buying an additional 117 shares during the period. Finally, Apollon Wealth Management LLC purchased a new stake in Datadog during the 4th quarter worth $765,000. Hedge funds and other institutional investors own 78.29% of the company’s stock.

Datadog Trading Down 1.1 %

Shares of NASDAQ:DDOG opened at $145.42 on Wednesday. The company has a 50 day moving average of $146.75 and a 200-day moving average of $130.77. The firm has a market cap of $49.40 billion, a P/E ratio of 274.38, a P/E/G ratio of 16.83 and a beta of 1.15. Datadog, Inc. has a twelve month low of $98.80 and a twelve month high of $170.08.

Insider Transactions at Datadog

In other news, CTO Alexis Le-Quoc sold 127,105 shares of the company’s stock in a transaction that occurred on Wednesday, January 8th. The shares were sold at an average price of $141.21, for a total value of $17,948,497.05. Following the completion of the sale, the chief technology officer now directly owns 324,778 shares of the company’s stock, valued at approximately $45,861,901.38. This represents a 28.13 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Olivier Pomel sold 178,723 shares of the company’s stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $161.28, for a total transaction of $28,824,445.44. Following the completion of the sale, the chief executive officer now directly owns 379,693 shares of the company’s stock, valued at approximately $61,236,887.04. This represents a 32.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 777,586 shares of company stock valued at $111,444,979. Company insiders own 11.78% of the company’s stock.

Analyst Ratings Changes

Several research firms recently issued reports on DDOG. UBS Group reaffirmed an “underperform” rating on shares of Datadog in a research note on Friday, October 18th. DA Davidson boosted their target price on shares of Datadog from $150.00 to $165.00 and gave the stock a “buy” rating in a research report on Monday. Cantor Fitzgerald assumed coverage on shares of Datadog in a research report on Friday, January 17th. They issued an “overweight” rating and a $180.00 target price for the company. Robert W. Baird boosted their target price on shares of Datadog from $140.00 to $150.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. Finally, Wedbush raised shares of Datadog from a “buy” rating to a “strong-buy” rating in a research report on Thursday, October 17th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, twenty-five have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $158.10.

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.