Norges Bank bought a new position in shares of Datadog, Inc. (NASDAQ:DDOG - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 3,239,628 shares of the company's stock, valued at approximately $462,910,000. Norges Bank owned approximately 0.95% of Datadog at the end of the most recent quarter.
A number of other large investors have also modified their holdings of the business. True Wealth Design LLC increased its holdings in Datadog by 12,000.0% in the third quarter. True Wealth Design LLC now owns 242 shares of the company's stock valued at $28,000 after buying an additional 240 shares in the last quarter. Retirement Wealth Solutions LLC purchased a new position in Datadog during the 4th quarter valued at about $30,000. Avior Wealth Management LLC raised its position in Datadog by 55.9% during the fourth quarter. Avior Wealth Management LLC now owns 226 shares of the company's stock worth $32,000 after acquiring an additional 81 shares during the last quarter. Quarry LP purchased a new stake in shares of Datadog in the third quarter valued at about $33,000. Finally, Kieckhefer Group LLC purchased a new position in shares of Datadog during the 4th quarter worth approximately $43,000. 78.29% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
A number of equities research analysts have commented on the company. JMP Securities reiterated a "market perform" rating on shares of Datadog in a report on Friday, February 14th. Wolfe Research lowered Datadog from an "outperform" rating to a "peer perform" rating in a research note on Tuesday, February 18th. Morgan Stanley reissued an "equal weight" rating and issued a $143.00 target price on shares of Datadog in a research note on Thursday, January 16th. Barclays decreased their price target on shares of Datadog from $187.00 to $180.00 and set an "overweight" rating on the stock in a research note on Friday, February 14th. Finally, Needham & Company LLC reissued a "buy" rating and issued a $160.00 price objective on shares of Datadog in a research report on Tuesday, March 4th. One research 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. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $157.22.
View Our Latest Stock Analysis on DDOG
Datadog Stock Performance
Shares of NASDAQ:DDOG traded up $0.96 during mid-day trading on Wednesday, hitting $102.02. 1,873,267 shares of the company traded hands, compared to its average volume of 5,035,879. The firm's 50 day simple moving average is $122.26 and its 200 day simple moving average is $130.82. The firm has a market cap of $34.97 billion, a P/E ratio of 200.04, a PEG ratio of 44.03 and a beta of 1.22. Datadog, Inc. has a 52-week low of $96.63 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 earnings per share (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%. Equities research analysts expect that Datadog, Inc. will post 0.34 EPS for the current fiscal year.
Insider Buying and Selling at Datadog
In related news, 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 completion of the transaction, the director now owns 195,667 shares of the company's stock, valued at approximately $27,612,527.04. This represents a 11.33 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Shardul Shah sold 7,916 shares of Datadog stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $142.12, for a total value of $1,125,021.92. Following the sale, the director now owns 427,785 shares in the company, valued at $60,796,804.20. This represents a 1.82 % 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 valued at $75,444,584 in the last ninety days. Insiders own 11.78% of the company's stock.
About Datadog
(
Free Report)
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.
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