ARK Investment Management LLC Buys 49,050 Shares of Datadog, Inc. (NASDAQ:DDOG)

ARK Investment Management LLC raised its stake in Datadog, Inc. (NASDAQ:DDOG - Free Report) by 62.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 127,290 shares of the company's stock after purchasing an additional 49,050 shares during the quarter. ARK Investment Management LLC's holdings in Datadog were worth $18,188,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the stock. Jennison Associates LLC boosted its stake 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 worth $1,325,826,000 after acquiring an additional 3,005,300 shares during the period. Baillie Gifford & Co. boosted its stake in shares of Datadog by 15.8% during the 4th quarter. Baillie Gifford & Co. now owns 10,905,133 shares of the company's stock worth $1,558,234,000 after acquiring an additional 1,484,562 shares during the period. Holocene Advisors LP boosted its stake 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. Champlain Investment Partners LLC bought a new position in shares of Datadog during the 3rd quarter worth approximately $52,561,000. Finally, Eagle Asset Management Inc. boosted its stake in shares of Datadog by 72.4% during the 3rd quarter. Eagle Asset Management Inc. now owns 914,776 shares of the company's stock worth $113,844,000 after acquiring an additional 384,121 shares during the period. 78.29% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. BMO Capital Markets lifted their target price on Datadog from $135.00 to $145.00 and gave the stock an "outperform" rating in a research note on Friday, November 8th. TD Cowen reiterated a "buy" rating and set a $165.00 target price on shares of Datadog in a research note on Tuesday, November 19th. Stifel Nicolaus cut Datadog from a "buy" rating to a "hold" rating and dropped their price target for the stock from $165.00 to $140.00 in a report on Wednesday, January 29th. Guggenheim reissued a "neutral" rating on shares of Datadog in a report on Wednesday, January 22nd. Finally, Macquarie reissued an "outperform" rating and set a $200.00 price target on shares of Datadog in a report on Tuesday, February 11th. One investment 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 given a strong buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $158.70.

Insider Activity

In related news, General Counsel Kerry Acocella sold 2,488 shares of the business's stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $158.04, for a total transaction of $393,203.52. Following the sale, the general counsel now owns 68,758 shares in the company, valued at $10,866,514.32. The trade was a 3.49 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CTO Alexis Le-Quoc sold 127,105 shares of the business's 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 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 position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 556,674 shares of company stock worth $82,904,025. Insiders own 11.78% of the company's stock.

Datadog Stock Up 2.7 %

Shares of DDOG traded up $3.04 during midday trading on Friday, hitting $116.57. The company's stock had a trading volume of 5,045,615 shares, compared to its average volume of 3,995,717. Datadog, Inc. has a one year low of $98.80 and a one year high of $170.08. The company's fifty day simple moving average is $138.51 and its two-hundred day simple moving average is $131.74. The stock has a market capitalization of $39.60 billion, a price-to-earnings ratio of 228.57, a price-to-earnings-growth ratio of 44.03 and a beta of 1.15.

Datadog (NASDAQ:DDOG - Get Free Report) last issued its quarterly earnings results 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 net margin of 6.85% and a return on equity of 8.28%. On average, research analysts predict that Datadog, Inc. will post 0.34 earnings per share for the current 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.