Resona Asset Management Co. Ltd. Purchases New Position in Datadog, Inc. (NASDAQ:DDOG)

Resona Asset Management Co. Ltd. acquired a new position in shares of Datadog, Inc. (NASDAQ:DDOG) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 83,803 shares of the company’s stock, valued at approximately $12,010,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Retirement Wealth Solutions LLC purchased a new stake in shares of Datadog during the 4th quarter valued at about $30,000. Avior Wealth Management LLC grew its position in Datadog by 55.9% in the fourth quarter. Avior Wealth Management LLC now owns 226 shares of the company’s stock valued at $32,000 after acquiring an additional 81 shares in the last quarter. Quarry LP purchased a new stake in shares of Datadog during the third quarter valued at approximately $33,000. Kieckhefer Group LLC purchased a new position in shares of Datadog in the fourth quarter valued at $43,000. Finally, Summit Securities Group LLC acquired a new stake in Datadog during the 4th quarter valued at $43,000. Institutional investors and hedge funds own 78.29% of the company’s stock.

Datadog Trading Down 6.9 %

NASDAQ DDOG opened at $87.93 on Monday. The company has a 50-day moving average price of $119.52 and a two-hundred day moving average price of $130.45. Datadog, Inc. has a 52 week low of $82.71 and a 52 week high of $170.08. The stock has a market cap of $30.14 billion, a price-to-earnings ratio of 172.42, a price-to-earnings-growth ratio of 44.03 and a beta of 1.20.

Datadog (NASDAQ:DDOG) last issued its quarterly earnings data 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 return on equity of 8.28% and a net margin of 6.85%. As a group, equities research analysts expect that Datadog, Inc. will post 0.34 earnings per share for the current fiscal year.

Insider Activity at Datadog

In related news, Director Shardul Shah sold 7,916 shares of the firm’s stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $142.12, for a total transaction of $1,125,021.92. Following the transaction, the director now owns 427,785 shares in the company, valued at $60,796,804.20. This trade represents a 1.82 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO Alexis Le-Quoc sold 127,105 shares of the company’s stock in a transaction that occurred 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 of the company’s stock, valued at $45,861,901.38. This trade represents a 28.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 601,412 shares of company stock worth $75,444,584 over the last ninety days. 11.78% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts have commented on DDOG shares. Loop Capital boosted their price objective on shares of Datadog from $160.00 to $200.00 and gave the stock a “buy” rating in a report on Monday, December 23rd. Jefferies Financial Group reduced their price target on Datadog from $170.00 to $150.00 and set a “buy” rating for the company in a report on Monday, March 31st. Royal Bank of Canada lifted their price objective on Datadog from $151.00 to $170.00 and gave the stock an “outperform” rating in a report on Friday, January 3rd. Needham & Company LLC reiterated a “buy” rating and set a $160.00 target price on shares of Datadog in a research note on Tuesday, March 4th. Finally, Wolfe Research lowered shares of Datadog from an “outperform” rating to a “peer perform” rating in a research note on Tuesday, February 18th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, twenty-one have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Datadog currently has a consensus rating of “Moderate Buy” and an average price target of $157.22.

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.