Massachusetts Financial Services Co. MA Raises Position in Datadog, Inc. (NASDAQ:DDOG)

Massachusetts Financial Services Co. MA grew its holdings in Datadog, Inc. (NASDAQ:DDOG - Free Report) by 16.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,476,279 shares of the company's stock after purchasing an additional 625,429 shares during the period. Massachusetts Financial Services Co. MA owned approximately 1.32% of Datadog worth $639,616,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Retirement Wealth Solutions LLC purchased a new position in Datadog during the 4th quarter valued at about $30,000. Avior Wealth Management LLC boosted its position in shares of Datadog by 55.9% in the fourth quarter. Avior Wealth Management LLC now owns 226 shares of the company's stock valued at $32,000 after acquiring an additional 81 shares during the period. Quarry LP purchased a new position in shares of Datadog during the 3rd quarter valued at $33,000. Kieckhefer Group LLC bought a new position in shares of Datadog in the fourth quarter worth $43,000. Finally, Summit Securities Group LLC bought a new position in shares of Datadog in the fourth quarter worth $43,000. 78.29% of the stock is currently owned by hedge funds and other institutional investors.

Datadog Price Performance

NASDAQ:DDOG traded down $6.54 during mid-day trading on Friday, reaching $87.93. 7,711,365 shares of the company's stock traded hands, compared to its average volume of 4,240,067. The company has a 50 day moving average price of $119.52 and a 200-day moving average price of $130.33. The firm has a market capitalization of $30.14 billion, a price-to-earnings ratio of 172.42, a PEG ratio of 44.03 and a beta of 1.20. Datadog, Inc. has a 12-month low of $86.57 and a 12-month high of $170.08.

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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 (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, analysts forecast that Datadog, Inc. will post 0.34 EPS for the current year.

Analyst Ratings Changes

Several research firms recently issued reports on DDOG. Guggenheim reissued a "neutral" rating on shares of Datadog in a research note on Wednesday, January 22nd. Loop Capital lifted their price target on Datadog from $160.00 to $200.00 and gave the company a "buy" rating in a research report on Monday, December 23rd. Barclays decreased their price objective on shares of Datadog from $187.00 to $180.00 and set an "overweight" rating on the stock in a research report on Friday, February 14th. Wolfe Research lowered shares of Datadog from an "outperform" rating to a "peer perform" rating in a research report on Tuesday, February 18th. Finally, Wells Fargo & Company cut shares of Datadog from an "overweight" rating to an "equal weight" rating and cut their price target for the stock from $152.00 to $140.00 in a research note on Thursday, February 13th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, twenty-one have given a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $157.22.

Insider Transactions at Datadog

In other Datadog news, CTO Alexis Le-Quoc sold 127,105 shares of the firm's stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $102.15, for a total value of $12,983,775.75. Following the completion of the sale, the chief technology officer now directly owns 371,865 shares in the company, valued at $37,986,009.75. This trade represents a 25.47 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Amit Agarwal sold 25,000 shares of the company's stock in a transaction that occurred on Wednesday, January 8th. The stock was sold at an average price of $141.12, for a total value of $3,528,000.00. Following the transaction, the director now owns 195,667 shares in the company, valued at $27,612,527.04. This trade represents a 11.33 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 601,412 shares of company stock valued at $75,444,584. Company insiders own 11.78% of the company's stock.

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.