Canada Pension Plan Investment Board Acquires 5,110 Shares of Datadog, Inc. (NASDAQ:DDOG)

Canada Pension Plan Investment Board raised its holdings in Datadog, Inc. (NASDAQ:DDOG - Free Report) by 3.4% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 155,961 shares of the company's stock after purchasing an additional 5,110 shares during the quarter. Canada Pension Plan Investment Board's holdings in Datadog were worth $22,285,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Groupama Asset Managment raised its holdings in shares of Datadog by 407.6% in the fourth quarter. Groupama Asset Managment now owns 6,600,000 shares of the company's stock valued at $943,074,000 after buying an additional 5,299,688 shares during the last quarter. Norges Bank bought a new position in shares of Datadog in the fourth quarter worth about $462,910,000. Jennison Associates LLC lifted its position 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 worth $1,325,826,000 after purchasing an additional 3,005,300 shares in the last quarter. Baillie Gifford & Co. grew its stake 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 valued at $1,558,234,000 after purchasing an additional 1,484,562 shares during the last quarter. Finally, William Blair Investment Management LLC acquired a new stake in shares of Datadog in the fourth quarter valued at approximately $173,163,000. Institutional investors and hedge funds own 78.29% of the company's stock.

Insider Transactions at Datadog

In other news, CEO Olivier Pomel sold 107,365 shares of Datadog stock in a transaction dated Monday, April 7th. The shares were sold at an average price of $87.33, for a total value of $9,376,185.45. Following the completion of the transaction, the chief executive officer now owns 563,598 shares of the company's stock, valued at $49,219,013.34. This trade represents a 16.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Amit Agarwal sold 25,000 shares of the firm'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 completion of the sale, the director now owns 195,667 shares of the company's stock, valued at $27,289,676.49. This trade represents a 11.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 548,756 shares of company stock worth $62,219,250 in the last three months. Insiders own 11.78% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on DDOG shares. Rosenblatt Securities lifted their target price on Datadog from $148.00 to $160.00 and gave the company a "buy" rating in a research note on Wednesday, February 12th. Truist Financial dropped their price objective on Datadog from $140.00 to $120.00 and set a "hold" rating for the company in a report on Monday, March 31st. Cantor Fitzgerald initiated coverage on shares of Datadog in a research note on Friday, January 17th. They issued an "overweight" rating and a $180.00 target price on the stock. Macquarie reissued an "outperform" rating and set a $200.00 price target on shares of Datadog in a research note on Tuesday, February 11th. Finally, Morgan Stanley reduced their price objective on shares of Datadog from $143.00 to $115.00 and set an "equal weight" rating on the stock in a research note on Wednesday. Seven equities research analysts have rated the stock with a hold rating, twenty-two have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $152.37.

Datadog Stock Performance

Shares of Datadog stock opened at $91.06 on Friday. Datadog, Inc. has a 52-week low of $81.63 and a 52-week high of $170.08. The business's 50 day simple moving average is $106.75 and its 200 day simple moving average is $128.28. The firm has a market cap of $31.21 billion, a PE ratio of 178.54, a P/E/G ratio of 44.03 and a beta of 1.20.

Datadog (NASDAQ:DDOG - Get Free Report) last posted 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 net margin of 6.85% and a return on equity of 8.28%. As a group, equities research analysts predict that Datadog, Inc. will post 0.34 EPS for the current year.

Datadog 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.

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