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

Ethic Inc. lifted its holdings in shares of Datadog, Inc. (NASDAQ:DDOG - Free Report) by 17.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 16,289 shares of the company's stock after acquiring an additional 2,457 shares during the quarter. Ethic Inc.'s holdings in Datadog were worth $2,328,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Vanguard Group Inc. increased its position in shares of 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 acquiring an additional 220,527 shares during the last quarter. Baillie Gifford & Co. grew its holdings in Datadog by 15.8% during the fourth 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 grew its holdings in Datadog by 47.9% during the fourth quarter. Jennison Associates LLC now owns 9,278,648 shares of the company's stock valued at $1,325,826,000 after purchasing an additional 3,005,300 shares during the period. Groupama Asset Managment grew its holdings in Datadog by 407.6% during the fourth quarter. Groupama Asset Managment now owns 6,600,000 shares of the company's stock valued at $943,074,000 after purchasing an additional 5,299,688 shares during the period. Finally, Geode Capital Management LLC grew its holdings 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 during the period. 78.29% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Datadog

In other news, Director Amit Agarwal sold 25,000 shares of Datadog stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $114.21, for a total value of $2,855,250.00. Following the transaction, the director now owns 82,324 shares in the company, valued at approximately $9,402,224.04. The trade was a 23.29% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Olivier Pomel sold 107,365 shares of Datadog stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $109.56, for a total value 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. This represents a 19.77% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 584,867 shares of company stock worth $60,517,652. Company insiders own 11.78% of the company's stock.

Analysts Set New Price Targets

Several brokerages have weighed in on DDOG. Needham & Company LLC reduced their price objective on Datadog from $160.00 to $130.00 and set a "buy" rating for the company in a report on Wednesday, May 7th. Guggenheim reaffirmed a "neutral" rating on shares of Datadog in a report on Wednesday, January 22nd. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $119.00 price target on shares of Datadog in a report on Wednesday, May 7th. Barclays raised their price target on Datadog from $125.00 to $128.00 and gave the stock an "overweight" rating in a report on Tuesday, May 6th. Finally, DA Davidson raised their price target on Datadog from $115.00 to $125.00 and gave the stock a "buy" rating in a report on Monday, May 5th. Seven investment analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $141.54.

Datadog Price Performance

NASDAQ DDOG traded up $0.53 during trading hours on Friday, reaching $117.67. 3,138,469 shares of the stock traded hands, compared to its average volume of 4,359,271. The company has a market cap of $40.33 billion, a price-to-earnings ratio of 230.73, a price-to-earnings-growth ratio of 44.03 and a beta of 1.12. The stock has a 50 day simple moving average of $101.10 and a two-hundred day simple moving average of $125.52. Datadog, Inc. has a 1 year low of $81.63 and a 1 year high of $170.08.

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

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.