LPL Financial LLC Increases Stake in Datadog, Inc. (NASDAQ:DDOG)

LPL Financial LLC boosted its position in shares of Datadog, Inc. (NASDAQ:DDOG - Free Report) by 34.4% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 152,243 shares of the company's stock after buying an additional 38,937 shares during the quarter. LPL Financial LLC's holdings in Datadog were worth $21,754,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in DDOG. Jennison Associates LLC grew its position in shares of Datadog by 47.9% during the 4th quarter. Jennison Associates LLC now owns 9,278,648 shares of the company's stock valued at $1,325,826,000 after acquiring an additional 3,005,300 shares during the period. Baillie Gifford & Co. grew 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 valued at $1,558,234,000 after purchasing an additional 1,484,562 shares during the period. William Blair Investment Management LLC purchased a new stake in shares of Datadog in the fourth quarter valued at approximately $173,163,000. Holocene Advisors LP raised its stake in shares of Datadog by 205.2% during the 3rd quarter. Holocene Advisors LP now owns 1,632,870 shares of the company's stock worth $187,878,000 after buying an additional 1,097,815 shares during the period. Finally, Principal Financial Group Inc. lifted its position in shares of Datadog by 151.9% during the 4th quarter. Principal Financial Group Inc. now owns 331,338 shares of the company's stock valued at $47,345,000 after buying an additional 199,793 shares in the last quarter. Hedge funds and other institutional investors own 78.29% of the company's stock.

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Datadog Price Performance

Shares of NASDAQ DDOG traded down $6.11 during mid-day trading on Thursday, hitting $95.60. The company had a trading volume of 2,908,094 shares, compared to its average volume of 4,196,762. The business's 50-day simple moving average is $121.49 and its 200 day simple moving average is $130.62. The company has a market capitalization of $32.77 billion, a PE ratio of 187.45, a price-to-earnings-growth ratio of 44.03 and a beta of 1.22. Datadog, Inc. has a 1-year low of $93.23 and a 1-year high of $170.08.

Datadog (NASDAQ:DDOG - Get Free Report) last announced its quarterly earnings data 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%. On average, analysts expect that Datadog, Inc. will post 0.34 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Guggenheim restated a "neutral" rating on shares of Datadog in a research report on Wednesday, January 22nd. Morgan Stanley reaffirmed an "equal weight" rating and issued a $143.00 price target on shares of Datadog in a research note on Thursday, January 16th. Cantor Fitzgerald initiated coverage on Datadog in a research note on Friday, January 17th. They set an "overweight" rating and a $180.00 price objective for the company. Rosenblatt Securities raised their target price on Datadog from $148.00 to $160.00 and gave the company a "buy" rating in a research report on Wednesday, February 12th. Finally, Royal Bank of Canada boosted their price target on Datadog from $151.00 to $170.00 and gave the stock an "outperform" rating in a research report on Friday, January 3rd. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, twenty-one have assigned a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $157.22.

Insider Buying and Selling

In related news, CEO Olivier Pomel sold 11,195 shares of the firm's stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $139.86, for a total transaction of $1,565,732.70. Following the transaction, the chief executive officer now owns 379,693 shares in the company, valued at $53,103,862.98. This trade represents a 2.86 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CTO Alexis Le-Quoc sold 127,105 shares of the firm's stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $102.15, for a total transaction of $12,983,775.75. Following the transaction, the chief technology officer now owns 371,865 shares in the company, valued at approximately $37,986,009.75. This trade represents a 25.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 601,412 shares of company stock worth $75,444,584 over the last 90 days. 11.78% of the stock is owned by insiders.

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.