Massachusetts Financial Services Co. MA Grows Position in Datadog, Inc. (NASDAQ:DDOG)

Massachusetts Financial Services Co. MA grew its position in Datadog, Inc. (NASDAQ:DDOG) by 16.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,476,279 shares of the company’s stock after acquiring an additional 625,429 shares during the quarter. Massachusetts Financial Services Co. MA owned 1.32% of Datadog worth $639,616,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of DDOG. Vanguard Group Inc. boosted its position in shares of 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 during the period. Baillie Gifford & Co. increased its stake in Datadog by 15.8% in the 4th quarter. Baillie Gifford & Co. now owns 10,905,133 shares of the company’s stock worth $1,558,234,000 after buying an additional 1,484,562 shares during the period. Jennison Associates LLC raised its stake in shares of Datadog by 47.9% during the fourth 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. Groupama Asset Managment raised its position in Datadog by 407.6% during the 4th quarter. Groupama Asset Managment now owns 6,600,000 shares of the company’s stock valued at $943,074,000 after purchasing an additional 5,299,688 shares in the last quarter. Finally, Geode Capital Management LLC grew its position in shares of Datadog by 9.6% during the 4th quarter. Geode Capital Management LLC now owns 5,684,612 shares of the company’s stock worth $811,076,000 after buying an additional 499,055 shares in the last quarter. Hedge funds and other institutional investors own 78.29% of the company’s stock.

Datadog Stock Performance

Datadog stock opened at $101.71 on Thursday. The company has a market capitalization of $34.86 billion, a PE ratio of 199.44, a price-to-earnings-growth ratio of 44.03 and a beta of 1.22. Datadog, Inc. has a fifty-two week low of $96.63 and a fifty-two week high of $170.08. The firm has a 50 day moving average price of $121.49 and a 200 day moving average price of $130.62.

Datadog (NASDAQ:DDOG) last issued its quarterly earnings data on Thursday, February 13th. The company reported $0.13 earnings per share 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%. As a group, equities research analysts forecast that Datadog, Inc. will post 0.34 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts recently commented on DDOG shares. Rosenblatt Securities boosted their price objective on shares of Datadog from $148.00 to $160.00 and gave the stock a “buy” rating in a research note on Wednesday, February 12th. Morgan Stanley reaffirmed an “equal weight” rating and issued a $143.00 price target on shares of Datadog in a report on Thursday, January 16th. Jefferies Financial Group decreased their price objective on shares of Datadog from $170.00 to $150.00 and set a “buy” rating for the company in a research report on Monday. Loop Capital increased their price target on Datadog from $160.00 to $200.00 and gave the stock a “buy” rating in a research report on Monday, December 23rd. Finally, Wolfe Research cut shares of Datadog from an “outperform” rating to a “peer perform” rating in a research note on Tuesday, February 18th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, twenty-one have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Datadog has an average rating of “Moderate Buy” and an average target price of $157.22.

Insiders Place Their Bets

In related 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 transaction of $17,948,497.05. Following the sale, the chief technology officer now directly owns 324,778 shares of the company’s stock, valued at $45,861,901.38. This represents a 28.13 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CRO Sean Michael Walters sold 8,454 shares of the 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 sale, the executive now owns 185,871 shares in the company, valued at approximately $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 601,412 shares of company stock worth $75,444,584 over the last three months. Company insiders own 11.78% of the company’s stock.

About Datadog

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.