Canada Pension Plan Investment Board Has $22.29 Million Stock Position in Datadog, Inc. (NASDAQ:DDOG)

Canada Pension Plan Investment Board grew its stake in Datadog, Inc. (NASDAQ:DDOG - Free Report) by 3.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 155,961 shares of the company's stock after acquiring an additional 5,110 shares during the period. Canada Pension Plan Investment Board's holdings in Datadog were worth $22,285,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of DDOG. Retirement Wealth Solutions LLC bought a new stake in shares of Datadog during the fourth quarter worth approximately $30,000. Avior Wealth Management LLC increased its stake in Datadog by 55.9% in the fourth quarter. Avior Wealth Management LLC now owns 226 shares of the company's stock valued at $32,000 after purchasing an additional 81 shares in the last quarter. Kieckhefer Group LLC bought a new stake in Datadog in the fourth quarter valued at approximately $43,000. Summit Securities Group LLC bought a new stake in Datadog in the fourth quarter valued at approximately $43,000. Finally, Friedenthal Financial bought a new stake in Datadog in the fourth quarter valued at approximately $54,000. 78.29% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have commented on DDOG. Scotiabank lowered their target price on shares of Datadog from $155.00 to $125.00 and set a "sector outperform" rating for the company in a research note on Tuesday, April 15th. Macquarie reaffirmed an "outperform" rating and issued a $200.00 target price on shares of Datadog in a research note on Tuesday, February 11th. JMP Securities reaffirmed a "market perform" rating on shares of Datadog in a research note on Friday, February 14th. Wells Fargo & Company cut shares of Datadog from an "overweight" rating to an "equal weight" rating and reduced their price target for the company from $152.00 to $140.00 in a report on Thursday, February 13th. Finally, Royal Bank of Canada upped their price target on shares of Datadog from $151.00 to $170.00 and gave the company an "outperform" rating in a report on Friday, January 3rd. Seven analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, Datadog has a consensus rating of "Moderate Buy" and an average price target of $150.33.

Datadog Trading Up 3.4 %

Shares of NASDAQ:DDOG traded up $3.15 during trading on Wednesday, reaching $94.57. 1,799,097 shares of the stock were exchanged, compared to its average volume of 4,338,229. Datadog, Inc. has a 12 month low of $81.63 and a 12 month high of $170.08. The firm has a market cap of $32.42 billion, a PE ratio of 185.44, a PEG ratio of 44.03 and a beta of 1.20. The stock has a 50-day moving average price of $104.68 and a 200-day moving average price of $127.86.

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, sell-side analysts expect that Datadog, Inc. will post 0.34 earnings per share for the current fiscal year.

Insider Activity at Datadog

In other Datadog news, Director Amit Agarwal sold 10,167 shares of the company's stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $115.86, for a total transaction of $1,177,948.62. Following the completion of the sale, the director now directly owns 82,324 shares in the company, valued at $9,538,058.64. This represents a 10.99 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Alexis Le-Quoc sold 127,105 shares of the company's stock in a transaction on Monday, February 3rd. The stock was 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 of the company's stock, valued at $46,371,802.84. The trade was 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 523,756 shares of company stock worth $58,732,500. 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.