Datadog, Inc. (NASDAQ:DDOG) Shares Purchased by QRG Capital Management Inc.

QRG Capital Management Inc. increased its stake in Datadog, Inc. (NASDAQ:DDOG - Free Report) by 13.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 21,483 shares of the company's stock after buying an additional 2,495 shares during the period. QRG Capital Management Inc.'s holdings in Datadog were worth $3,070,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the stock. Los Angeles Capital Management LLC lifted its position in shares of Datadog by 172.2% in the 3rd quarter. Los Angeles Capital Management LLC now owns 38,841 shares of the company's stock worth $4,469,000 after purchasing an additional 24,574 shares during the period. Heritage Investors Management Corp acquired a new position in Datadog during the 3rd quarter valued at approximately $1,157,000. ARK Investment Management LLC raised its stake in Datadog by 62.7% in the 4th quarter. ARK Investment Management LLC now owns 127,290 shares of the company's stock worth $18,188,000 after acquiring an additional 49,050 shares during the last quarter. Baillie Gifford & Co. lifted its position in 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 period. Finally, Y Intercept Hong Kong Ltd grew its position in Datadog by 140.1% during the 4th quarter. Y Intercept Hong Kong Ltd now owns 53,116 shares of the company's stock worth $7,590,000 after purchasing an additional 30,998 shares during the period. Hedge funds and other institutional investors own 78.29% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. Rosenblatt Securities lifted 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. Jefferies Financial Group upped their price target on Datadog from $155.00 to $170.00 and gave the stock a "buy" rating in a report on Monday, January 6th. BMO Capital Markets increased their price objective on shares of Datadog from $135.00 to $145.00 and gave the company an "outperform" rating in a report on Friday, November 8th. Morgan Stanley restated an "equal weight" rating and issued a $143.00 target price on shares of Datadog in a research report on Thursday, January 16th. Finally, Guggenheim reaffirmed a "neutral" rating on shares of Datadog in a report on Wednesday, January 22nd. One investment 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 assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $158.70.

Insider Activity at Datadog

In related news, Director Shardul Shah sold 7,916 shares of the stock in a transaction on Monday, December 16th. The shares were sold at an average price of $155.25, for a total transaction of $1,228,959.00. Following the completion of the sale, the director now owns 435,701 shares in the company, valued at $67,642,580.25. This represents a 1.78 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, General Counsel Kerry Acocella sold 2,488 shares of Datadog stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $158.04, for a total transaction of $393,203.52. Following the completion of the transaction, the general counsel now owns 68,758 shares in the company, valued at approximately $10,866,514.32. This represents a 3.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 556,674 shares of company stock valued at $82,904,025 in the last three months. 11.78% of the stock is currently owned by company insiders.

Datadog Price Performance

Shares of DDOG traded down $1.73 during mid-day trading on Monday, reaching $114.82. The company's stock had a trading volume of 2,255,835 shares, compared to its average volume of 3,991,393. Datadog, Inc. has a 12-month low of $98.80 and a 12-month high of $170.08. The company's 50 day moving average is $138.51 and its 200 day moving average is $131.99. The stock has a market cap of $39.01 billion, a PE ratio of 225.53, a price-to-earnings-growth ratio of 44.03 and a beta of 1.15.

Datadog (NASDAQ:DDOG - Get Free Report) last posted its earnings results on Thursday, February 13th. The company reported $0.13 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, sell-side analysts anticipate that Datadog, Inc. will post 0.34 EPS for the current fiscal 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.