Great Lakes Advisors LLC Acquires 2,701 Shares of Datadog, Inc. (NASDAQ:DDOG)

Great Lakes Advisors LLC increased its holdings in Datadog, Inc. (NASDAQ:DDOG - Free Report) by 96.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,503 shares of the company's stock after acquiring an additional 2,701 shares during the period. Great Lakes Advisors LLC's holdings in Datadog were worth $786,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in DDOG. Jennison Associates LLC raised its holdings in shares of Datadog by 47.9% in 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 last quarter. Baillie Gifford & Co. grew its position 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 purchasing an additional 1,484,562 shares in the last quarter. Holocene Advisors LP grew its position in Datadog by 205.2% in the 3rd quarter. Holocene Advisors LP now owns 1,632,870 shares of the company's stock worth $187,878,000 after purchasing an additional 1,097,815 shares in the last quarter. Champlain Investment Partners LLC bought a new stake in Datadog in the 3rd quarter worth about $52,561,000. Finally, Eagle Asset Management Inc. grew its position in Datadog by 72.4% in the 3rd quarter. Eagle Asset Management Inc. now owns 914,776 shares of the company's stock worth $113,844,000 after purchasing an additional 384,121 shares in the last quarter. Institutional investors and hedge funds own 78.29% of the company's stock.

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Datadog Stock Performance

NASDAQ DDOG traded up $1.50 on Wednesday, hitting $104.43. The stock had a trading volume of 3,146,024 shares, compared to its average volume of 4,062,738. Datadog, Inc. has a 52-week low of $98.30 and a 52-week high of $170.08. The company has a market capitalization of $35.79 billion, a price-to-earnings ratio of 204.77, a price-to-earnings-growth ratio of 44.03 and a beta of 1.22. The firm has a 50-day moving average of $129.20 and a 200-day moving average of $131.18.

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

Analyst Ratings Changes

DDOG has been the subject of a number of recent analyst reports. Rosenblatt Securities upped their price objective on shares of Datadog from $148.00 to $160.00 and gave the stock a "buy" rating in a research report on Wednesday, February 12th. DA Davidson upped their price objective on shares of Datadog from $150.00 to $165.00 and gave the stock a "buy" rating in a research report on Monday, February 10th. Wolfe Research downgraded shares of Datadog from an "outperform" rating to a "peer perform" rating in a research report on Tuesday, February 18th. Jefferies Financial Group upped their price objective on shares of Datadog from $155.00 to $170.00 and gave the stock a "buy" rating in a research report on Monday, January 6th. Finally, Citigroup reduced their price objective on shares of Datadog from $170.00 to $165.00 and set a "buy" rating for the company in a research report on Friday, February 14th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, twenty-one have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $158.70.

Insiders Place Their Bets

In other news, President Amit Agarwal sold 25,000 shares of the firm's stock in a transaction on Thursday, December 26th. The shares were sold at an average price of $147.99, for a total transaction of $3,699,750.00. Following the sale, the president now owns 195,667 shares in the company, valued at approximately $28,956,759.33. This trade represents a 11.33 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CTO Alexis Le-Quoc sold 127,105 shares of the firm's stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $102.15, for a total transaction of $12,983,775.75. Following the sale, the chief technology officer now owns 371,865 shares in the company, valued at approximately $37,986,009.75. This trade represents a 25.47 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 626,412 shares of company stock worth $79,144,334 in the last three months. 11.78% of the stock is currently owned by corporate insiders.

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.