Nomura Asset Management Co. Ltd. Raises Stock Holdings in Datadog, Inc. (NASDAQ:DDOG)

Nomura Asset Management Co. Ltd. lifted its stake in Datadog, Inc. (NASDAQ:DDOG - Free Report) by 50.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 185,280 shares of the company's stock after purchasing an additional 61,972 shares during the period. Nomura Asset Management Co. Ltd. owned 0.05% of Datadog worth $26,475,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of DDOG. Norges Bank purchased a new stake in Datadog in the fourth quarter worth about $462,910,000. Jennison Associates LLC lifted its stake in shares of Datadog by 47.9% in the 4th quarter. Jennison Associates LLC now owns 9,278,648 shares of the company's stock valued at $1,325,826,000 after purchasing an additional 3,005,300 shares during the period. Baillie Gifford & Co. boosted its position in shares of 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 in the last quarter. William Blair Investment Management LLC purchased a new stake in Datadog in the fourth quarter worth $173,163,000. Finally, Holocene Advisors LP raised its holdings in Datadog by 205.2% in the third quarter. Holocene Advisors LP now owns 1,632,870 shares of the company's stock worth $187,878,000 after purchasing an additional 1,097,815 shares in the last quarter. Institutional investors own 78.29% of the company's stock.

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, January 8th. The stock was sold at an average price of $141.21, for a total transaction of $17,948,497.05. Following the sale, the chief technology officer now directly owns 324,778 shares of the company's stock, valued at $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 Securities & Exchange Commission, which is available through the SEC website. Also, Director Amit Agarwal sold 25,000 shares of the stock in a transaction dated 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 sale, the director now owns 195,667 shares of the company's stock, valued at $27,612,527.04. This represents a 11.33 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 601,412 shares of company stock valued at $75,444,584 over the last quarter. 11.78% of the stock is currently owned by company insiders.

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Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on DDOG shares. Needham & Company LLC reaffirmed a "buy" rating and issued a $160.00 target price on shares of Datadog in a research report on Tuesday, March 4th. Stifel Nicolaus cut shares of Datadog from a "buy" rating to a "hold" rating and cut their price objective for the stock from $165.00 to $140.00 in a report on Wednesday, January 29th. Loop Capital raised 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. Cantor Fitzgerald began coverage on Datadog in a research note on Friday, January 17th. They issued an "overweight" rating and a $180.00 price target on the stock. Finally, Jefferies Financial Group reduced their price objective on Datadog from $170.00 to $150.00 and set a "buy" rating for the company in a research report on Monday. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, twenty-one have given a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $157.22.

Datadog Trading Down 7.4 %

DDOG stock traded down $7.53 during midday trading on Thursday, reaching $94.18. 1,852,099 shares of the company's stock traded hands, compared to its average volume of 5,012,110. The stock's 50-day moving average is $121.49 and its 200 day moving average is $130.62. The stock has a market cap of $32.28 billion, a P/E ratio of 184.67, a PEG ratio of 44.03 and a beta of 1.22. Datadog, Inc. has a 52-week low of $93.15 and a 52-week high of $170.08.

Datadog (NASDAQ:DDOG - Get Free Report) last posted its quarterly earnings data 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 return on equity of 8.28% and a net margin of 6.85%. As a group, research analysts expect that Datadog, Inc. will post 0.34 EPS for the current fiscal year.

About Datadog

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.