Datadog, Inc. (NASDAQ:DDOG) Stake Raised by Mitsubishi UFJ Trust & Banking Corp

Mitsubishi UFJ Trust & Banking Corp raised its holdings in Datadog, Inc. (NASDAQ:DDOG - Free Report) by 7.5% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 475,391 shares of the company's stock after buying an additional 33,264 shares during the period. Mitsubishi UFJ Trust & Banking Corp owned approximately 0.14% of Datadog worth $67,929,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. Vanguard Group Inc. grew its stake 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 worth $4,337,316,000 after purchasing an additional 220,527 shares in the last quarter. Baillie Gifford & Co. lifted its position in 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. Jennison Associates LLC increased 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 worth $1,325,826,000 after acquiring an additional 3,005,300 shares during the period. Geode Capital Management LLC boosted its position in shares of Datadog by 2.5% during the 3rd quarter. Geode Capital Management LLC now owns 5,185,557 shares of the company's stock worth $595,438,000 after purchasing an additional 125,457 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Datadog by 2.4% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,024,926 shares of the company's stock worth $232,988,000 after buying an additional 46,746 shares during the period. Institutional investors and hedge funds own 78.29% of the company's stock.

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Datadog Stock Down 3.6 %

Datadog stock traded down $3.75 during mid-day trading on Friday, hitting $101.10. 3,793,178 shares of the company's stock traded hands, compared to its average volume of 4,189,762. Datadog, Inc. has a one year low of $98.30 and a one year high of $170.08. The firm has a 50 day moving average price of $123.79 and a 200 day moving average price of $130.80. The company has a market cap of $34.65 billion, a PE ratio of 198.24, a price-to-earnings-growth ratio of 44.03 and a beta of 1.22.

Datadog (NASDAQ:DDOG - Get Free Report) last posted its quarterly earnings data on Thursday, February 13th. The company reported $0.13 earnings per share 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%. On average, analysts expect that Datadog, Inc. will post 0.34 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms have recently commented on DDOG. JMP Securities reiterated a "market perform" rating on shares of Datadog in a research report on Friday, February 14th. Stifel Nicolaus cut shares of Datadog from a "buy" rating to a "hold" rating and decreased their target price for the stock from $165.00 to $140.00 in a research report on Wednesday, January 29th. Rosenblatt Securities boosted their price target on Datadog from $148.00 to $160.00 and gave the company a "buy" rating in a research report on Wednesday, February 12th. Royal Bank of Canada raised their price target on shares of Datadog from $151.00 to $170.00 and gave the company an "outperform" rating in a report on Friday, January 3rd. Finally, Macquarie reiterated an "outperform" rating and set a $200.00 price objective on shares of Datadog in a research note on Tuesday, February 11th. One equities research 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 assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Datadog has a consensus rating of "Moderate Buy" and an average target price of $158.70.

Insider Buying and Selling at Datadog

In related news, CTO Alexis Le-Quoc sold 127,105 shares of the 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 completion of 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CRO Sean Michael Walters sold 8,454 shares of Datadog stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $102.04, for a total value of $862,646.16. Following the completion of the transaction, the executive now owns 185,871 shares in the company, valued at $18,966,276.84. The trade was a 4.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 601,412 shares of company stock valued at $75,444,584. 11.78% of the stock is owned by corporate insiders.

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.