CANADA LIFE ASSURANCE Co Acquires 7,242 Shares of Datadog, Inc. (NASDAQ:DDOG)

CANADA LIFE ASSURANCE Co boosted its holdings in Datadog, Inc. (NASDAQ:DDOG - Free Report) by 2.6% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 284,641 shares of the company's stock after acquiring an additional 7,242 shares during the period. CANADA LIFE ASSURANCE Co owned 0.08% of Datadog worth $40,628,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Groupama Asset Managment lifted its holdings in Datadog by 407.6% during the 4th quarter. Groupama Asset Managment now owns 6,600,000 shares of the company's stock worth $943,074,000 after buying an additional 5,299,688 shares in the last quarter. Norges Bank acquired a new position in Datadog during the 4th quarter worth approximately $462,910,000. Jennison Associates LLC increased its stake in 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 buying an additional 3,005,300 shares during the period. Baillie Gifford & Co. lifted its stake 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 worth $1,558,234,000 after acquiring an additional 1,484,562 shares in the last quarter. Finally, William Blair Investment Management LLC bought a new position in Datadog during the 4th quarter valued at $173,163,000. 78.29% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. Stifel Nicolaus cut shares of Datadog from a "buy" rating to a "hold" rating and cut their target price for the stock from $165.00 to $140.00 in a report on Wednesday, January 29th. Morgan Stanley decreased their target price on Datadog from $143.00 to $115.00 and set an "equal weight" rating for the company in a research note on Wednesday, April 16th. JMP Securities restated a "market perform" rating on shares of Datadog in a report on Friday, February 14th. Guggenheim reiterated a "neutral" rating on shares of Datadog in a research report on Wednesday, January 22nd. Finally, Royal Bank of Canada lifted their target price on shares of Datadog from $151.00 to $170.00 and gave the stock an "outperform" rating in a research report on Friday, January 3rd. 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 company's stock. Based on data from MarketBeat.com, Datadog currently has a consensus rating of "Moderate Buy" and a consensus price target of $150.33.

Datadog Stock Up 3.1 %

Shares of DDOG traded up $2.86 during trading hours on Wednesday, hitting $94.28. The company had a trading volume of 2,040,728 shares, compared to its average volume of 4,338,820. The business has a fifty day moving average of $104.68 and a 200-day moving average of $127.86. The firm has a market cap of $32.32 billion, a price-to-earnings ratio of 184.87, a PEG ratio of 44.03 and a beta of 1.20. Datadog, Inc. has a 12 month low of $81.63 and a 12 month high of $170.08.

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

Insiders Place Their Bets

In other news, CEO Olivier Pomel sold 11,195 shares of the firm's stock in a transaction that occurred on Monday, January 27th. The shares were sold at an average price of $139.86, for a total transaction of $1,565,732.70. Following the transaction, the chief executive officer now directly owns 379,693 shares of the company's stock, valued at approximately $53,103,862.98. This trade represents a 2.86 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Amit Agarwal sold 10,167 shares of the business's stock in a transaction that occurred on 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 of the company's stock, valued at approximately $9,538,058.64. This trade represents a 10.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 523,756 shares of company stock worth $58,732,500 in the last 90 days. Company insiders own 11.78% of the company's stock.

About Datadog

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.