Datadog, Inc. (NASDAQ:DDOG) Shares Acquired by Tower Research Capital LLC TRC

Tower Research Capital LLC TRC grew its stake in Datadog, Inc. (NASDAQ:DDOG - Free Report) by 103.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 15,755 shares of the company's stock after buying an additional 8,005 shares during the period. Tower Research Capital LLC TRC's holdings in Datadog were worth $2,251,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the stock. Groupama Asset Managment increased its holdings in shares of Datadog by 407.6% in the 4th quarter. Groupama Asset Managment now owns 6,600,000 shares of the company's stock valued at $943,074,000 after acquiring an additional 5,299,688 shares during the period. Norges Bank purchased a new position in Datadog during the 4th quarter worth $462,910,000. Jennison Associates LLC increased its stake in Datadog by 47.9% in the fourth 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. raised its holdings in shares of 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 buying an additional 1,484,562 shares during the last quarter. Finally, William Blair Investment Management LLC acquired a new stake in shares of Datadog during the fourth quarter worth about $173,163,000. 78.29% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Datadog

In other news, CEO Olivier Pomel sold 11,195 shares of Datadog stock in a transaction on Monday, January 27th. The stock was sold at an average price of $139.86, for a total value of $1,565,732.70. Following the completion of the sale, the chief executive officer now owns 379,693 shares of the company's stock, valued at $53,103,862.98. The trade was a 2.86 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Alexis Le-Quoc sold 127,105 shares of the stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $142.78, for a total value of $18,148,051.90. Following the transaction, the chief technology officer now owns 324,778 shares in the company, valued at $46,371,802.84. This trade represents a 28.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 523,756 shares of company stock valued at $58,732,500. Company insiders own 11.78% of the company's stock.

Analyst Ratings Changes

DDOG has been the subject of several analyst reports. Truist Financial reduced their price objective on Datadog from $140.00 to $120.00 and set a "hold" rating for the company in a research note on Monday, March 31st. Guggenheim reaffirmed a "neutral" rating on shares of Datadog in a report on Wednesday, January 22nd. Wells Fargo & Company lowered shares of Datadog from an "overweight" rating to an "equal weight" rating and lowered their price objective for the company from $152.00 to $140.00 in a research report on Thursday, February 13th. Cantor Fitzgerald assumed coverage on shares of Datadog in a research report on Friday, January 17th. They set an "overweight" rating and a $180.00 price objective for the company. Finally, Royal Bank of Canada lifted their target price on shares of Datadog from $151.00 to $170.00 and gave the company an "outperform" rating in a report on Friday, January 3rd. Seven investment analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $150.33.

Datadog Price Performance

Datadog stock traded up $1.92 during mid-day trading on Friday, hitting $101.52. 3,025,472 shares of the company were exchanged, compared to its average volume of 4,357,500. Datadog, Inc. has a 12-month low of $81.63 and a 12-month high of $170.08. The company has a market capitalization of $34.80 billion, a P/E ratio of 199.06, a PEG ratio of 44.03 and a beta of 1.20. The business's 50 day simple moving average is $102.74 and its two-hundred day simple moving average is $127.32.

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 analysts' consensus estimates of $0.44 by ($0.31). Datadog had a return on equity of 8.28% and a net margin of 6.85%. Equities research analysts predict that Datadog, Inc. will post 0.34 earnings per share for the current year.

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.