Arnhold LLC Buys New Position in Datadog, Inc. (NASDAQ:DDOG)

Arnhold LLC bought a new stake in shares of Datadog, Inc. (NASDAQ:DDOG - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 2,669 shares of the company's stock, valued at approximately $381,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Vanguard Group Inc. lifted its holdings in Datadog by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 30,354,229 shares of the company's stock valued at $4,337,316,000 after acquiring an additional 220,527 shares during the last quarter. Baillie Gifford & Co. grew its holdings in shares of Datadog by 15.8% during the 4th quarter. Baillie Gifford & Co. now owns 10,905,133 shares of the company's stock worth $1,558,234,000 after purchasing an additional 1,484,562 shares during the period. Jennison Associates LLC increased its position in shares of Datadog by 47.9% during the 4th quarter. Jennison Associates LLC now owns 9,278,648 shares of the company's stock worth $1,325,826,000 after purchasing an additional 3,005,300 shares during the last quarter. Groupama Asset Managment raised its holdings in 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 buying an additional 5,299,688 shares during the period. Finally, Geode Capital Management LLC boosted its stake in Datadog by 9.6% during the fourth quarter. Geode Capital Management LLC now owns 5,684,612 shares of the company's stock worth $811,076,000 after buying an additional 499,055 shares during the period. Hedge funds and other institutional investors own 78.29% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. Royal Bank of Canada upped their target price on shares of Datadog from $151.00 to $170.00 and gave the stock an "outperform" rating in a research note on Friday, January 3rd. DA Davidson lowered their target price on Datadog from $165.00 to $115.00 and set a "buy" rating for the company in a research note on Monday, April 14th. Barclays decreased their price objective on Datadog from $180.00 to $125.00 and set an "overweight" rating for the company in a research note on Monday, April 21st. Wolfe Research cut shares of Datadog from an "outperform" rating to a "peer perform" rating in a report on Tuesday, February 18th. Finally, Jefferies Financial Group restated a "buy" rating and issued a $135.00 price objective (down from $150.00) on shares of Datadog in a report on Monday, April 7th. Seven equities research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $150.33.

Datadog Price Performance

Shares of DDOG stock traded up $0.84 during mid-day trading on Tuesday, hitting $102.58. The company had a trading volume of 931,727 shares, compared to its average volume of 4,334,916. The stock's 50 day moving average price is $102.20 and its 200-day moving average price is $127.12. Datadog, Inc. has a 52-week low of $81.63 and a 52-week high of $170.08. The company has a market capitalization of $35.16 billion, a P/E ratio of 201.22, a P/E/G ratio of 44.03 and a beta of 1.20.

Datadog (NASDAQ:DDOG - Get Free Report) last posted its quarterly earnings data on Thursday, February 13th. The company reported $0.13 earnings per share 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%. On average, equities research analysts expect that Datadog, Inc. will post 0.34 earnings per share for the current year.

Insiders Place Their Bets

In other news, CTO Alexis Le-Quoc sold 127,105 shares of Datadog stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $142.78, for a total value of $18,148,051.90. Following the sale, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Olivier Pomel sold 107,365 shares of the stock in a transaction that occurred on Monday, April 7th. The shares were sold at an average price of $87.33, for a total value of $9,376,185.45. Following the completion of the sale, the chief executive officer now directly owns 563,598 shares of the company's stock, valued at approximately $49,219,013.34. This represents a 16.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 512,561 shares of company stock worth $57,166,767. Corporate insiders own 11.78% of the company's stock.

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.