Datadog, Inc. (NASDAQ:DDOG) Shares Bought by Parnassus Investments LLC

Parnassus Investments LLC lifted its position in shares of Datadog, Inc. (NASDAQ:DDOG - Free Report) by 1.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 188,127 shares of the company's stock after purchasing an additional 2,798 shares during the period. Parnassus Investments LLC owned about 0.06% of Datadog worth $26,881,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Baillie Gifford & Co. increased its position in Datadog by 15.8% during 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 period. Jennison Associates LLC increased its holdings 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 acquiring an additional 3,005,300 shares during the period. Geode Capital Management LLC raised its position in Datadog by 2.5% in the 3rd quarter. Geode Capital Management LLC now owns 5,185,557 shares of the company's stock valued at $595,438,000 after purchasing an additional 125,457 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Datadog by 2.4% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,024,926 shares of the company's stock worth $232,988,000 after purchasing an additional 46,746 shares during the period. Finally, Holocene Advisors LP grew its position in 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 purchasing an additional 1,097,815 shares during the last quarter. 78.29% of the stock is owned by hedge funds and other institutional investors.

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Datadog Stock Performance

Datadog stock traded down $1.04 during midday trading on Tuesday, reaching $102.93. 2,994,661 shares of the company were exchanged, compared to its average volume of 4,058,635. The firm's 50-day simple moving average is $129.97 and its 200-day simple moving average is $131.27. Datadog, Inc. has a 1 year low of $98.30 and a 1 year high of $170.08. The company has a market capitalization of $35.28 billion, a price-to-earnings ratio of 201.83, a P/E/G ratio of 44.03 and a beta of 1.22.

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 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%. On average, analysts forecast that Datadog, Inc. will post 0.34 EPS for the current fiscal year.

Insider Buying and Selling

In other Datadog news, CRO Sean Michael Walters sold 8,454 shares of the company's stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $102.04, for a total transaction of $862,646.16. Following the completion of the sale, the executive now directly owns 185,871 shares in the company, valued at $18,966,276.84. This represents a 4.35 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Olivier Pomel sold 19,226 shares of Datadog stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $153.73, for a total value of $2,955,612.98. Following the completion of the transaction, the chief executive officer now directly owns 379,693 shares in the company, valued at $58,370,204.89. This represents a 4.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 645,638 shares of company stock valued at $82,099,946. Insiders own 11.78% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on DDOG. Jefferies Financial Group increased their target price on shares of Datadog from $155.00 to $170.00 and gave the stock a "buy" rating in a research note on Monday, January 6th. Citigroup decreased their price objective on Datadog from $170.00 to $165.00 and set a "buy" rating for the company in a research report on Friday, February 14th. Mizuho boosted their target price on Datadog from $155.00 to $170.00 and gave the company an "outperform" rating in a report on Friday, December 13th. Royal Bank of Canada upped their price target on Datadog from $151.00 to $170.00 and gave the stock an "outperform" rating in a research note on Friday, January 3rd. Finally, Stifel Nicolaus downgraded 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 research report on Wednesday, January 29th. 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 issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $158.70.

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.