Datadog, Inc. (NASDAQ:DDOG) is Groupama Asset Managment’s 3rd Largest Position

Groupama Asset Managment boosted its holdings in shares of Datadog, Inc. (NASDAQ:DDOG) by 407.6% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 6,600,000 shares of the company’s stock after purchasing an additional 5,299,688 shares during the quarter. Datadog makes up approximately 6.9% of Groupama Asset Managment’s holdings, making the stock its 3rd largest holding. Groupama Asset Managment owned about 1.94% of Datadog worth $943,074,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in the business. Vanguard Group Inc. raised its stake in Datadog by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 30,354,229 shares of the company’s stock valued at $4,337,316,000 after buying an additional 220,527 shares in the last quarter. Baillie Gifford & Co. increased its holdings in shares of Datadog by 15.8% in the 4th quarter. Baillie Gifford & Co. now owns 10,905,133 shares of the company’s stock valued at $1,558,234,000 after acquiring an additional 1,484,562 shares during the last quarter. Jennison Associates LLC raised its position in shares of Datadog by 47.9% during the 4th quarter. Jennison Associates LLC now owns 9,278,648 shares of the company’s stock valued at $1,325,826,000 after acquiring an additional 3,005,300 shares in the last quarter. Geode Capital Management LLC lifted its stake in Datadog by 9.6% during the fourth quarter. Geode Capital Management LLC now owns 5,684,612 shares of the company’s stock worth $811,076,000 after purchasing an additional 499,055 shares during the last quarter. Finally, Norges Bank acquired a new position in Datadog in the fourth quarter worth $462,910,000. 78.29% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

DDOG has been the subject of a number of recent research reports. Macquarie reaffirmed an “outperform” rating and set a $200.00 price objective on shares of Datadog in a research report on Tuesday, February 11th. Rosenblatt Securities increased their price target on Datadog from $148.00 to $160.00 and gave the stock a “buy” rating in a research report on Wednesday, February 12th. Mizuho boosted their price objective on Datadog from $155.00 to $170.00 and gave the company an “outperform” rating in a research report on Friday, December 13th. Wolfe Research lowered Datadog from an “outperform” rating to a “peer perform” rating in a research report on Tuesday, February 18th. Finally, Guggenheim reissued a “neutral” rating on shares of Datadog in a report on Wednesday, January 22nd. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, twenty-one have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $157.22.

Insider Activity at Datadog

In other news, CTO Alexis Le-Quoc sold 127,105 shares of the stock in a transaction on Wednesday, January 8th. The stock was 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 owns 324,778 shares in the company, valued at $45,861,901.38. This represents a 28.13 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Amit Agarwal sold 25,000 shares of Datadog stock in a transaction on Wednesday, January 8th. The shares were sold at an average price of $141.12, for a total value of $3,528,000.00. Following the transaction, the director now owns 195,667 shares in the company, valued at $27,612,527.04. This represents a 11.33 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 601,412 shares of company stock worth $75,444,584. 11.78% of the stock is owned by corporate insiders.

Datadog Stock Down 1.9 %

Shares of NASDAQ DDOG opened at $99.21 on Tuesday. Datadog, Inc. has a 12 month low of $96.63 and a 12 month high of $170.08. The company has a market cap of $34.01 billion, a price-to-earnings ratio of 194.53, a P/E/G ratio of 44.03 and a beta of 1.22. The business has a fifty day simple moving average of $123.01 and a 200-day simple moving average of $130.88.

Datadog (NASDAQ:DDOG) last posted its quarterly earnings data 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, sell-side analysts expect that Datadog, Inc. will post 0.34 EPS for the current fiscal year.

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.