BNP Paribas Boosts Stake in Datadog, Inc. (NASDAQ:DDOG)

BNP Paribas grew its holdings in Datadog, Inc. (NASDAQ:DDOG - Free Report) by 378.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,084 shares of the company's stock after acquiring an additional 4,812 shares during the period. BNP Paribas' holdings in Datadog were worth $869,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in DDOG. Allworth Financial LP increased its holdings in shares of Datadog by 7.7% in the 4th quarter. Allworth Financial LP now owns 1,043 shares of the company's stock valued at $146,000 after acquiring an additional 75 shares during the period. Spire Wealth Management grew its position in shares of Datadog by 21.4% in the 4th quarter. Spire Wealth Management now owns 453 shares of the company's stock worth $65,000 after buying an additional 80 shares during the last quarter. Avior Wealth Management LLC lifted its position in Datadog by 55.9% during the fourth quarter. Avior Wealth Management LLC now owns 226 shares of the company's stock valued at $32,000 after acquiring an additional 81 shares during the last quarter. Farther Finance Advisors LLC lifted its holdings in shares of Datadog by 5.2% during the 4th quarter. Farther Finance Advisors LLC now owns 1,853 shares of the company's stock valued at $265,000 after purchasing an additional 92 shares during the last quarter. Finally, Parkside Financial Bank & Trust increased its position in Datadog by 16.5% during the 4th quarter. Parkside Financial Bank & Trust now owns 663 shares of the company's stock valued at $95,000 after buying an additional 94 shares in the last quarter. Institutional investors own 78.29% of the company's stock.

Datadog Stock Performance

Datadog stock traded down $1.34 during mid-day trading on Friday, reaching $107.88. 3,518,534 shares of the company were exchanged, compared to its average volume of 4,333,522. The firm's 50-day simple moving average is $100.36 and its two-hundred day simple moving average is $125.92. Datadog, Inc. has a twelve month low of $81.63 and a twelve month high of $170.08. The firm has a market cap of $36.98 billion, a PE ratio of 211.53, a price-to-earnings-growth ratio of 44.03 and a beta of 1.12.

Datadog (NASDAQ:DDOG - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The company reported $0.46 earnings per share (EPS) 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 for the quarter, compared to analysts' expectations of $741.73 million. During the same period in the previous year, the company posted $0.44 EPS. Datadog's revenue was up 24.6% compared to the same quarter last year. As a group, equities research analysts anticipate that Datadog, Inc. will post 0.34 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts have issued reports on DDOG shares. Macquarie cut their price target on shares of Datadog from $175.00 to $140.00 and set an "outperform" rating on the stock in a research note on Wednesday. Royal Bank of Canada restated an "outperform" rating and issued a $119.00 target price on shares of Datadog in a research note on Wednesday. BTIG Research set a $136.00 price objective on Datadog and gave the company a "buy" rating in a report on Tuesday. Rosenblatt Securities decreased their target price on Datadog from $160.00 to $150.00 and set a "buy" rating for the company in a report on Monday. Finally, Citigroup cut their price target on shares of Datadog from $170.00 to $165.00 and set a "buy" rating on the stock in a report on Friday, February 14th. Seven investment analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Datadog has an average rating of "Moderate Buy" and an average price target of $141.54.

Insider Activity at Datadog

In other Datadog news, CRO Sean Michael Walters sold 8,454 shares of the firm's stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $102.04, for a total value of $862,646.16. Following the completion of the sale, the executive now owns 185,871 shares of the company's stock, valued at approximately $18,966,276.84. This trade represents a 4.35 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 transaction, the director now directly owns 82,324 shares in the company, 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 sold a total of 385,456 shares of company stock worth $39,018,715 over the last 90 days. Company 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.