William Blair Investment Management LLC Invests $173.16 Million in Datadog, Inc. (NASDAQ:DDOG)

William Blair Investment Management LLC purchased a new stake in Datadog, Inc. (NASDAQ:DDOG - Free Report) in the 4th quarter, according to its most recent filing with the SEC. The fund purchased 1,211,862 shares of the company's stock, valued at approximately $173,163,000. William Blair Investment Management LLC owned about 0.36% of Datadog as of its most recent filing with the SEC.

A number of other large investors also recently made changes to their positions in the business. True Wealth Design LLC increased its stake 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 purchasing an additional 240 shares during the last quarter. Retirement Wealth Solutions LLC purchased a new stake in Datadog in the 4th quarter valued at about $30,000. Avior Wealth Management LLC increased its stake in shares of Datadog by 55.9% during the 4th 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 last quarter. Meeder Asset Management Inc. lifted its holdings in shares of Datadog by 66.5% during the 3rd quarter. Meeder Asset Management Inc. now owns 288 shares of the company's stock worth $33,000 after acquiring an additional 115 shares during the period. Finally, Quarry LP acquired a new stake in shares of Datadog in the third quarter worth approximately $33,000. Hedge funds and other institutional investors own 78.29% of the company's stock.

Insider Activity

In related news, President Amit Agarwal sold 25,000 shares of the stock in a transaction dated Thursday, December 26th. The shares were sold at an average price of $147.99, for a total value of $3,699,750.00. Following the sale, the president now owns 195,667 shares of the company's stock, valued at $28,956,759.33. This trade represents a 11.33 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Alexis Le-Quoc sold 127,105 shares of Datadog stock in a transaction dated Wednesday, January 8th. The shares were sold at an average price of $141.21, for a total transaction of $17,948,497.05. Following the completion of the sale, the chief technology officer now owns 324,778 shares in the company, valued at approximately $45,861,901.38. This represents a 28.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 626,412 shares of company stock valued at $79,144,334. 11.78% of the stock is currently owned by insiders.

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Datadog Trading Up 1.1 %

Datadog stock traded up $1.12 during mid-day trading on Wednesday, reaching $104.05. The company's stock had a trading volume of 1,489,524 shares, compared to its average volume of 4,056,574. Datadog, Inc. has a twelve month low of $98.30 and a twelve month high of $170.08. The business has a 50 day moving average price of $129.20 and a 200-day moving average price of $131.18. The firm has a market cap of $35.66 billion, a price-to-earnings ratio of 204.81, a PEG ratio of 44.03 and a beta of 1.22.

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

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on DDOG shares. Citigroup dropped their price target on shares of Datadog from $170.00 to $165.00 and set a "buy" rating for the company in a research report on Friday, February 14th. Guggenheim reaffirmed a "neutral" rating on shares of Datadog in a research report on Wednesday, January 22nd. Needham & Company LLC reissued a "buy" rating and set a $160.00 price target on shares of Datadog in a research report on Tuesday, March 4th. DA Davidson upped their price target on Datadog from $150.00 to $165.00 and gave the stock a "buy" rating in a research note on Monday, February 10th. Finally, Wells Fargo & Company lowered Datadog from an "overweight" rating to an "equal weight" rating and reduced their price objective for the company from $152.00 to $140.00 in a research note on Thursday, February 13th. 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's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price 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.