Private Wealth Partners LLC Acquires New Stake in Datadog, Inc. (NASDAQ:DDOG)

Private Wealth Partners LLC bought a new stake in Datadog, Inc. (NASDAQ:DDOG) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 8,560 shares of the company’s stock, valued at approximately $1,223,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Baillie Gifford & Co. boosted its holdings in shares of Datadog by 15.8% during the fourth quarter. Baillie Gifford & Co. now owns 10,905,133 shares of the company’s stock worth $1,558,234,000 after purchasing an additional 1,484,562 shares during the last quarter. Jennison Associates LLC lifted its position in Datadog by 47.9% during the fourth quarter. Jennison Associates LLC now owns 9,278,648 shares of the company’s stock worth $1,325,826,000 after buying an additional 3,005,300 shares during the period. Geode Capital Management LLC grew its holdings in Datadog by 2.5% in the 3rd quarter. Geode Capital Management LLC now owns 5,185,557 shares of the company’s stock valued at $595,438,000 after buying an additional 125,457 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Datadog by 2.4% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,024,926 shares of the company’s stock valued at $232,988,000 after acquiring an additional 46,746 shares during the last quarter. Finally, Holocene Advisors LP lifted its holdings in shares of Datadog by 205.2% during the 3rd quarter. Holocene Advisors LP now owns 1,632,870 shares of the company’s stock worth $187,878,000 after acquiring an additional 1,097,815 shares during the period. 78.29% of the stock is currently owned by hedge funds and other institutional investors.

Datadog Trading Down 1.4 %

DDOG stock opened at $128.85 on Thursday. The company has a market capitalization of $43.77 billion, a P/E ratio of 252.65, a PEG ratio of 15.23 and a beta of 1.15. The firm has a 50 day simple moving average of $143.45 and a 200-day simple moving average of $131.51. Datadog, Inc. has a twelve month low of $98.80 and a twelve month high of $170.08.

Datadog (NASDAQ:DDOG) last issued its earnings results on Thursday, February 13th. The company reported $0.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.31). Datadog had a net margin of 6.85% and a return on equity of 8.28%. On average, research analysts predict that Datadog, Inc. will post 0.58 EPS for the current year.

Insider Transactions at Datadog

In other news, General Counsel Kerry Acocella sold 2,488 shares of the firm’s stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $158.04, for a total value of $393,203.52. Following the transaction, the general counsel now directly owns 68,758 shares in the company, valued at approximately $10,866,514.32. This trade represents a 3.49 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Amit Agarwal sold 25,000 shares of the business’s stock in a transaction dated Wednesday, January 22nd. The shares were sold at an average price of $139.47, for a total transaction of $3,486,750.00. Following the sale, the director now directly owns 195,667 shares of the company’s stock, valued at approximately $27,289,676.49. This represents a 11.33 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 556,674 shares of company stock worth $82,904,025. 11.78% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms recently issued reports on DDOG. Citigroup lowered their target price on shares of Datadog from $170.00 to $165.00 and set a “buy” rating for the company in a report on Friday, February 14th. Robert W. Baird upped their price objective on Datadog from $140.00 to $150.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. DA Davidson increased their target price on Datadog from $150.00 to $165.00 and gave the stock a “buy” rating in a research report on Monday, February 10th. Jefferies Financial Group boosted their price target on Datadog from $155.00 to $170.00 and gave the company a “buy” rating in a research report on Monday, January 6th. Finally, Monness Crespi & Hardt raised Datadog from a “neutral” rating to a “buy” rating and set a $155.00 price objective on the stock in a research note on Thursday, November 7th. One equities research 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 issued a strong buy rating to the stock. According to MarketBeat.com, Datadog currently has an average rating of “Moderate Buy” and an average 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.