Geode Capital Management LLC Boosts Stock Position in Datadog, Inc. (NASDAQ:DDOG)

Geode Capital Management LLC boosted its holdings in shares of Datadog, Inc. (NASDAQ:DDOG - Free Report) by 9.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,684,612 shares of the company's stock after acquiring an additional 499,055 shares during the period. Geode Capital Management LLC owned 1.67% of Datadog worth $811,076,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of DDOG. Proficio Capital Partners LLC purchased a new stake in shares of Datadog in the fourth quarter worth $14,884,000. ARK Investment Management LLC grew its position in Datadog by 62.7% during the 4th quarter. ARK Investment Management LLC now owns 127,290 shares of the company's stock valued at $18,188,000 after purchasing an additional 49,050 shares during the last quarter. Y Intercept Hong Kong Ltd increased its stake in Datadog by 140.1% during the 4th quarter. Y Intercept Hong Kong Ltd now owns 53,116 shares of the company's stock valued at $7,590,000 after purchasing an additional 30,998 shares in the last quarter. Baillie Gifford & Co. raised its holdings in Datadog by 15.8% in the fourth quarter. Baillie Gifford & Co. now owns 10,905,133 shares of the company's stock worth $1,558,234,000 after buying an additional 1,484,562 shares during the last quarter. Finally, Atom Investors LP bought a new position in shares of Datadog in the third quarter worth approximately $1,112,000. Institutional investors own 78.29% of the company's stock.

Insider Activity

In related news, CTO Alexis Le-Quoc sold 127,105 shares of the firm's stock in a transaction 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 transaction, the chief technology officer now directly owns 324,778 shares of the company's stock, valued at approximately $45,861,901.38. This trade represents a 28.13 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Amit Agarwal sold 25,000 shares of Datadog stock in a transaction on Wednesday, January 8th. The shares were sold at an average price of $141.12, for a total transaction of $3,528,000.00. Following the completion of 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 disclosure for this sale can be found here. Insiders have sold a total of 601,412 shares of company stock worth $75,444,584 over the last quarter. Insiders own 11.78% of the company's stock.

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Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Mizuho raised their price target on shares of Datadog from $155.00 to $170.00 and gave the company an "outperform" rating in a research report on Friday, December 13th. Citigroup reduced their target price on Datadog from $170.00 to $165.00 and set a "buy" rating for the company in a report on Friday, February 14th. Rosenblatt Securities boosted their price target on Datadog from $148.00 to $160.00 and gave the stock a "buy" rating in a research note on Wednesday, February 12th. Loop Capital increased their price objective on Datadog from $160.00 to $200.00 and gave the company a "buy" rating in a research report on Monday, December 23rd. Finally, Royal Bank of Canada lifted their price objective on 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 issued a hold rating, twenty-one have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $157.22.

Datadog Stock Performance

Shares of NASDAQ DDOG traded down $7.24 during midday trading on Thursday, reaching $94.47. The stock had a trading volume of 5,748,186 shares, compared to its average volume of 4,213,524. Datadog, Inc. has a 12-month low of $93.23 and a 12-month high of $170.08. The stock has a 50-day moving average of $120.58 and a 200-day moving average of $130.37. The company has a market capitalization of $32.38 billion, a price-to-earnings ratio of 185.24, a price-to-earnings-growth ratio of 44.03 and a beta of 1.22.

Datadog (NASDAQ:DDOG - Get Free Report) last released 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, analysts forecast that Datadog, Inc. will post 0.34 EPS for the current fiscal year.

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.