DnB Asset Management AS Has $225.57 Million Stock Holdings in Datadog, Inc. (NASDAQ:DDOG)

DnB Asset Management AS lessened its stake in shares of Datadog, Inc. (NASDAQ:DDOG - Free Report) by 3.5% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,578,648 shares of the company's stock after selling 57,226 shares during the quarter. Datadog comprises about 1.0% of DnB Asset Management AS's investment portfolio, making the stock its 17th biggest position. DnB Asset Management AS owned about 0.46% of Datadog worth $225,573,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Quest Partners LLC increased its position in Datadog by 2,323.9% during the 3rd quarter. Quest Partners LLC now owns 1,115 shares of the company's stock worth $128,000 after purchasing an additional 1,069 shares in the last quarter. Cerity Partners LLC lifted its position in Datadog by 33.9% during the 3rd quarter. Cerity Partners LLC now owns 40,752 shares of the company's stock worth $4,689,000 after acquiring an additional 10,318 shares in the last quarter. Larson Financial Group LLC boosted its holdings in Datadog by 3,718.2% in the 3rd quarter. Larson Financial Group LLC now owns 840 shares of the company's stock worth $97,000 after acquiring an additional 818 shares during the period. Dynamic Technology Lab Private Ltd purchased a new stake in Datadog during the 3rd quarter worth $780,000. Finally, Loomis Sayles & Co. L P acquired a new position in Datadog in the 3rd quarter worth $334,000. 78.29% of the stock is currently owned by hedge funds and other institutional investors.

Datadog Stock Up 0.8 %

Datadog stock traded up $0.83 during mid-day trading on Tuesday, reaching $100.04. The company had a trading volume of 2,040,275 shares, compared to its average volume of 4,180,757. Datadog, Inc. has a 52 week low of $96.63 and a 52 week high of $170.08. The firm has a market cap of $34.29 billion, a price-to-earnings ratio of 196.10, a PEG ratio of 44.03 and a beta of 1.22. The company has a 50 day moving average of $123.01 and a 200-day moving average of $130.88.

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

Analyst Ratings Changes

A number of brokerages have recently issued reports on DDOG. Truist Financial dropped their target price on Datadog from $140.00 to $120.00 and set a "hold" rating on the stock in a research report on Monday. Needham & Company LLC reiterated a "buy" rating and set a $160.00 price objective on shares of Datadog in a research note on Tuesday, March 4th. Jefferies Financial Group lowered their price objective on Datadog from $170.00 to $150.00 and set a "buy" rating for the company in a research note on Monday. Barclays cut their target price on Datadog from $187.00 to $180.00 and set an "overweight" rating on the stock in a research note on Friday, February 14th. Finally, Royal Bank of Canada increased their price objective on shares of Datadog from $151.00 to $170.00 and gave the stock an "outperform" rating in a report on Friday, January 3rd. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, twenty-one have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $157.22.

Insider Buying and Selling

In other news, Director Amit Agarwal sold 25,000 shares of the stock in a transaction on Wednesday, January 8th. The stock was sold at an average price of $141.12, for a total transaction of $3,528,000.00. Following the sale, the director now owns 195,667 shares in the company, valued at approximately $27,612,527.04. This represents a 11.33 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Shardul Shah sold 7,916 shares of Datadog stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $142.12, for a total value of $1,125,021.92. Following the completion of the transaction, the director now directly owns 427,785 shares of the company's stock, valued at $60,796,804.20. This represents a 1.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 601,412 shares of company stock worth $75,444,584 in the last quarter. 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.