Baird Financial Group Inc. Grows Stock Holdings in Datadog, Inc. (NASDAQ:DDOG)

Baird Financial Group Inc. grew its stake in Datadog, Inc. (NASDAQ:DDOG - Free Report) by 6,594.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 390,913 shares of the company's stock after acquiring an additional 385,074 shares during the period. Baird Financial Group Inc. owned 0.12% of Datadog worth $55,858,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Proficio Capital Partners LLC purchased a new position in Datadog during the 4th quarter worth $14,884,000. ARK Investment Management LLC increased its stake in shares of Datadog by 62.7% during the fourth quarter. ARK Investment Management LLC now owns 127,290 shares of the company's stock valued at $18,188,000 after buying an additional 49,050 shares during the period. Y Intercept Hong Kong Ltd raised its holdings in shares of Datadog by 140.1% in the fourth quarter. Y Intercept Hong Kong Ltd now owns 53,116 shares of the company's stock valued at $7,590,000 after acquiring an additional 30,998 shares in the last quarter. Baillie Gifford & Co. lifted its stake in Datadog by 15.8% in the fourth quarter. Baillie Gifford & Co. now owns 10,905,133 shares of the company's stock worth $1,558,234,000 after acquiring an additional 1,484,562 shares during the period. Finally, Cullen Frost Bankers Inc. grew its holdings in Datadog by 3.5% during the 4th quarter. Cullen Frost Bankers Inc. now owns 72,489 shares of the company's stock worth $10,358,000 after acquiring an additional 2,451 shares in the last quarter. 78.29% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

DDOG has been the subject of several research reports. Barclays lowered their price target on shares of Datadog from $180.00 to $125.00 and set an "overweight" rating for the company in a research report on Monday, April 21st. Jefferies Financial Group reaffirmed a "buy" rating and set a $135.00 target price (down previously from $150.00) on shares of Datadog in a research report on Monday, April 7th. Scotiabank reduced their price target on Datadog from $155.00 to $125.00 and set a "sector outperform" rating for the company in a research report on Tuesday, April 15th. Cantor Fitzgerald initiated coverage on Datadog in a research report on Friday, January 17th. They set an "overweight" rating and a $180.00 price objective on the stock. Finally, Guggenheim reiterated a "neutral" rating on shares of Datadog in a report on Wednesday, January 22nd. Seven investment analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $150.33.

Insider Buying and Selling at Datadog

In other news, CTO Alexis Le-Quoc sold 127,105 shares of Datadog stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $102.15, for a total transaction of $12,983,775.75. Following the completion of the transaction, the chief technology officer now directly owns 371,865 shares of the company's stock, valued at $37,986,009.75. The trade was a 25.47 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Amit Agarwal sold 25,000 shares of the stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $114.21, for a total transaction of $2,855,250.00. Following the sale, the director now directly owns 82,324 shares in the company, valued at $9,402,224.04. This trade represents a 23.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 385,456 shares of company stock worth $39,018,715. Insiders own 11.78% of the company's stock.

Datadog Trading Down 1.2 %

Shares of NASDAQ:DDOG opened at $105.00 on Monday. Datadog, Inc. has a twelve month low of $81.63 and a twelve month high of $170.08. The company has a market cap of $35.99 billion, a PE ratio of 205.89, a price-to-earnings-growth ratio of 44.03 and a beta of 1.12. The company's 50 day moving average is $100.95 and its 200 day moving average is $126.47.

Datadog (NASDAQ:DDOG - Get Free Report) last released 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%. Equities research analysts predict that Datadog, Inc. will post 0.34 earnings per share for the current fiscal year.

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.

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