Brevan Howard Capital Management LP Buys 16,295 Shares of Datadog, Inc. (NASDAQ:DDOG)

Brevan Howard Capital Management LP raised its holdings in shares of Datadog, Inc. (NASDAQ:DDOG - Free Report) by 66.9% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 40,652 shares of the company's stock after buying an additional 16,295 shares during the period. Brevan Howard Capital Management LP's holdings in Datadog were worth $5,809,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in DDOG. Vanguard Group Inc. raised its position in Datadog by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 30,354,229 shares of the company's stock valued at $4,337,316,000 after buying an additional 220,527 shares during the period. Baillie Gifford & Co. increased its holdings in shares of Datadog by 15.8% in the 4th quarter. Baillie Gifford & Co. now owns 10,905,133 shares of the company's stock valued at $1,558,234,000 after purchasing an additional 1,484,562 shares during the period. Jennison Associates LLC lifted its position in shares of Datadog by 47.9% in the fourth 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 in the last quarter. Groupama Asset Managment boosted its holdings in shares of Datadog by 407.6% during the fourth quarter. Groupama Asset Managment now owns 6,600,000 shares of the company's stock worth $943,074,000 after purchasing an additional 5,299,688 shares during the period. Finally, Geode Capital Management LLC grew its position in Datadog by 9.6% during the fourth quarter. Geode Capital Management LLC now owns 5,684,612 shares of the company's stock valued at $811,076,000 after purchasing an additional 499,055 shares in the last quarter. Institutional investors and hedge funds own 78.29% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. Barclays lifted their target price on shares of Datadog from $125.00 to $128.00 and gave the company an "overweight" rating in a research note on Tuesday. Jefferies Financial Group reaffirmed a "buy" rating on shares of Datadog in a research report on Tuesday. Stifel Nicolaus set a $120.00 price target on Datadog in a report on Tuesday. Cantor Fitzgerald reissued an "overweight" rating and issued a $134.00 target price on shares of Datadog in a research report on Wednesday. Finally, BTIG Research set a $136.00 price objective on Datadog and gave the company a "buy" rating in a report on Tuesday. Seven investment analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $141.54.

Datadog Stock Performance

Shares of NASDAQ:DDOG traded down $1.34 on Friday, hitting $107.88. The stock had a trading volume of 3,603,369 shares, compared to its average volume of 4,337,421. The company has a market capitalization of $36.98 billion, a price-to-earnings ratio of 211.53, a price-to-earnings-growth ratio of 44.03 and a beta of 1.12. The firm's 50 day moving average price is $100.20 and its 200-day moving average price is $125.81. Datadog, Inc. has a twelve month low of $81.63 and a twelve month high of $170.08.

Datadog (NASDAQ:DDOG - Get Free Report) last issued its quarterly earnings data on Tuesday, May 6th. The company reported $0.46 earnings per share for the quarter, topping the consensus estimate of $0.42 by $0.04. Datadog had a net margin of 6.85% and a return on equity of 8.28%. The firm had revenue of $761.55 million for the quarter, compared to analysts' expectations of $741.73 million. During the same period in the prior year, the firm earned $0.44 earnings per share. The company's quarterly revenue was up 24.6% compared to the same quarter last year. As a group, sell-side analysts predict that Datadog, Inc. will post 0.34 EPS for the current year.

Insider Buying and Selling at Datadog

In other Datadog news, Director Amit Agarwal sold 10,167 shares of the firm's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $115.86, for a total value of $1,177,948.62. Following the completion of the sale, the director now owns 82,324 shares in the company, valued at approximately $9,538,058.64. This trade represents a 10.99 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Olivier Pomel sold 107,365 shares of the company's stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $109.56, for a total transaction of $11,762,909.40. Following the transaction, the chief executive officer now owns 435,793 shares in the company, valued at $47,745,481.08. The trade was a 19.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 559,867 shares of company stock worth $57,550,902. 11.78% of the stock is currently owned by insiders.

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.