57,000 Shares in Datadog, Inc. (NASDAQ:DDOG) Bought by Erste Asset Management GmbH

Erste Asset Management GmbH purchased a new stake in Datadog, Inc. (NASDAQ:DDOG - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 57,000 shares of the company's stock, valued at approximately $8,321,000.

Several other hedge funds also recently added to or reduced their stakes in the stock. Allworth Financial LP grew its position in shares of Datadog by 7.7% during the fourth quarter. Allworth Financial LP now owns 1,043 shares of the company's stock worth $146,000 after acquiring an additional 75 shares during the last quarter. Spire Wealth Management lifted its holdings in Datadog by 21.4% in the fourth quarter. Spire Wealth Management now owns 453 shares of the company's stock valued at $65,000 after acquiring an additional 80 shares during the period. Avior Wealth Management LLC raised its stake in shares of Datadog by 55.9% during the 4th quarter. Avior Wealth Management LLC now owns 226 shares of the company's stock worth $32,000 after buying an additional 81 shares during the last quarter. Pathstone Holdings LLC boosted its position in shares of Datadog by 0.4% in the 3rd quarter. Pathstone Holdings LLC now owns 23,152 shares of the company's stock worth $2,664,000 after buying an additional 91 shares in the last quarter. Finally, Farther Finance Advisors LLC boosted its position in shares of Datadog by 5.2% in the 4th quarter. Farther Finance Advisors LLC now owns 1,853 shares of the company's stock worth $265,000 after buying an additional 92 shares in the last quarter. 78.29% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO Olivier Pomel sold 19,226 shares of the stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $153.73, for a total transaction of $2,955,612.98. Following the completion of the transaction, the chief executive officer now directly owns 379,693 shares in the company, valued at approximately $58,370,204.89. This represents a 4.82 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, President Amit Agarwal sold 25,000 shares of the stock in a transaction that occurred on Thursday, December 26th. The shares were sold at an average price of $147.99, for a total value of $3,699,750.00. Following the transaction, the president now owns 195,667 shares of the company's stock, valued at approximately $28,956,759.33. This trade represents a 11.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 645,638 shares of company stock worth $82,099,946. 11.78% of the stock is currently owned by insiders.

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Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. Wells Fargo & Company lowered shares of Datadog from an "overweight" rating to an "equal weight" rating and decreased their price objective for the stock from $152.00 to $140.00 in a research report on Thursday, February 13th. Wolfe Research downgraded shares of Datadog from an "outperform" rating to a "peer perform" rating in a research note on Tuesday, February 18th. Loop Capital boosted their target price on shares of Datadog from $160.00 to $200.00 and gave the company a "buy" rating in a research note on Monday, December 23rd. Macquarie reissued an "outperform" rating and issued a $200.00 target price on shares of Datadog in a research note on Tuesday, February 11th. Finally, Citigroup cut their target price on shares of Datadog from $170.00 to $165.00 and set a "buy" rating for the company in a research note on Friday, February 14th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, twenty-one have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $158.70.

Datadog Price Performance

NASDAQ DDOG traded down $1.04 on Tuesday, reaching $102.93. The company had a trading volume of 2,994,651 shares, compared to its average volume of 5,339,613. The firm has a market capitalization of $35.28 billion, a PE ratio of 201.83, a P/E/G ratio of 44.03 and a beta of 1.22. Datadog, Inc. has a 1 year low of $98.30 and a 1 year high of $170.08. The firm has a 50-day moving average of $129.97 and a 200-day moving average of $131.27.

Datadog (NASDAQ:DDOG - Get Free Report) last released its earnings results on Thursday, February 13th. The company reported $0.13 EPS for the quarter, missing the consensus estimate 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 expect 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.