Cetera Investment Advisers Boosts Position in Datadog, Inc. (NASDAQ:DDOG)

Cetera Investment Advisers increased its position in Datadog, Inc. (NASDAQ:DDOG - Free Report) by 24.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 61,603 shares of the company's stock after purchasing an additional 12,086 shares during the quarter. Cetera Investment Advisers' holdings in Datadog were worth $8,802,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. Groupama Asset Managment increased its position in Datadog by 407.6% in 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. Norges Bank acquired a new position in Datadog in the fourth quarter valued at approximately $462,910,000. Jennison Associates LLC lifted its holdings in Datadog by 47.9% in the fourth quarter. Jennison Associates LLC now owns 9,278,648 shares of the company's stock valued at $1,325,826,000 after buying an additional 3,005,300 shares during the period. Brown Advisory Inc. boosted its stake in Datadog by 2,804.2% in the fourth quarter. Brown Advisory Inc. now owns 2,749,174 shares of the company's stock valued at $392,830,000 after acquiring an additional 2,654,512 shares during the last quarter. Finally, Baillie Gifford & Co. grew its holdings in 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 acquiring an additional 1,484,562 shares during the period. Institutional investors and hedge funds own 78.29% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on DDOG shares. Wolfe Research cut Datadog from an "outperform" rating to a "peer perform" rating in a research note on Tuesday, February 18th. Wedbush lowered their price target on Datadog from $155.00 to $140.00 and set an "outperform" rating for the company in a research note on Wednesday, May 7th. Royal Bank of Canada reiterated an "outperform" rating and issued a $119.00 price target on shares of Datadog in a research report on Wednesday, May 7th. Cantor Fitzgerald restated an "overweight" rating and set a $134.00 price objective on shares of Datadog in a report on Wednesday, May 7th. Finally, Barclays increased their target price on shares of Datadog from $125.00 to $128.00 and gave the stock an "overweight" rating in a report on Tuesday, May 6th. Seven research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company. According to data from MarketBeat.com, Datadog presently has a consensus rating of "Moderate Buy" and a consensus target price of $141.54.

Datadog Stock Down 1.6%

Datadog stock traded down $1.95 during trading hours on Thursday, reaching $117.14. 4,196,007 shares of the company's stock were exchanged, compared to its average volume of 4,356,824. The firm's 50 day simple moving average is $100.48 and its 200 day simple moving average is $125.66. Datadog, Inc. has a twelve month low of $81.63 and a twelve month high of $170.08. The firm has a market capitalization of $40.15 billion, a PE ratio of 229.69, a PEG ratio of 44.03 and a beta of 1.12.

Datadog (NASDAQ:DDOG - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The company reported $0.46 earnings per share for the quarter, beating 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 company had revenue of $761.55 million during the quarter, compared to analyst estimates of $741.73 million. During the same quarter in the previous year, the business posted $0.44 EPS. Datadog's revenue for the quarter was up 24.6% compared to the same quarter last year. Analysts anticipate that Datadog, Inc. will post 0.34 EPS for the current year.

Insiders Place Their Bets

In related news, Director Amit Agarwal sold 10,167 shares of the stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $115.86, for a total transaction of $1,177,948.62. Following the completion of the transaction, the director now owns 82,324 shares in the company, valued at approximately $9,538,058.64. This represents a 10.99% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Olivier Pomel sold 107,365 shares of the business's stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $109.56, for a total transaction of $11,762,909.40. Following the completion of the transaction, the chief executive officer now owns 435,793 shares in the company, valued at approximately $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. Over the last quarter, insiders have sold 559,867 shares of company stock worth $57,550,902. Corporate insiders own 11.78% of the company's stock.

Datadog Company 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.