BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Acquires 82,112 Shares of Datadog, Inc. (NASDAQ:DDOG)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its holdings in shares of Datadog, Inc. (NASDAQ:DDOG - Free Report) by 177.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 128,433 shares of the company's stock after buying an additional 82,112 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp's holdings in Datadog were worth $18,352,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Merit Financial Group LLC bought a new stake in Datadog during the 4th quarter worth approximately $343,000. HB Wealth Management LLC lifted its position in Datadog by 20.0% during the 4th quarter. HB Wealth Management LLC now owns 2,428 shares of the company's stock worth $347,000 after buying an additional 404 shares in the last quarter. Perpetual Ltd bought a new stake in Datadog during the 4th quarter worth about $355,000. Atomi Financial Group Inc. increased its position in Datadog by 70.7% in the 4th quarter. Atomi Financial Group Inc. now owns 6,541 shares of the company's stock valued at $935,000 after acquiring an additional 2,709 shares in the last quarter. Finally, Dakota Wealth Management acquired a new position in shares of Datadog during the fourth quarter worth approximately $435,000. 78.29% of the stock is owned by institutional investors.

Datadog Stock Performance

Shares of Datadog stock traded up $2.83 on Tuesday, hitting $117.29. The company had a trading volume of 1,100,675 shares, compared to its average volume of 4,381,563. Datadog, Inc. has a 1 year low of $81.63 and a 1 year high of $170.08. The stock has a 50 day moving average of $102.65 and a 200-day moving average of $125.04. The stock has a market capitalization of $40.51 billion, a price-to-earnings ratio of 230.06, a P/E/G ratio of 44.03 and a beta of 1.12.

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

Analyst Upgrades and Downgrades

Several brokerages have weighed in on DDOG. Stifel Nicolaus set a $120.00 price objective on Datadog in a report on Tuesday, May 6th. Barclays increased their price target on Datadog from $125.00 to $128.00 and gave the company an "overweight" rating in a research note on Tuesday, May 6th. Canaccord Genuity Group dropped their price objective on Datadog from $150.00 to $145.00 and set a "buy" rating for the company in a report on Wednesday, May 7th. 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 report on Wednesday, April 16th. Finally, Citigroup dropped their price target on Datadog from $170.00 to $165.00 and set a "buy" rating on the stock in a research report on Friday, February 14th. Seven research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $141.54.

Insider Buying and Selling at Datadog

In related news, CEO Olivier Pomel sold 107,365 shares of the stock in a transaction dated Friday, March 7th. The stock was sold at an average price of $109.56, for a total transaction of $11,762,909.40. Following the sale, the chief executive officer now owns 435,793 shares of the company's stock, valued at approximately $47,745,481.08. This represents a 19.77% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Amit Agarwal sold 25,000 shares of the company's stock in a transaction that occurred on Wednesday, May 14th. The stock was sold at an average price of $118.67, for a total transaction of $2,966,750.00. Following the sale, the director now directly owns 82,324 shares in the company, valued at $9,769,389.08. This trade represents a 23.29% decrease in their position. The disclosure for this sale can be found here. Insiders sold 584,867 shares of company stock worth $60,517,652 in the last quarter. 11.78% of the stock is currently owned by company insiders.

Datadog 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.