Lansforsakringar Fondforvaltning AB publ Invests $13.29 Million in Datadog, Inc. (NASDAQ:DDOG)

Lansforsakringar Fondforvaltning AB publ acquired a new position in Datadog, Inc. (NASDAQ:DDOG - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 92,976 shares of the company's stock, valued at approximately $13,285,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Avior Wealth Management LLC increased its position in Datadog by 55.9% during the 4th quarter. Avior Wealth Management LLC now owns 226 shares of the company's stock worth $32,000 after purchasing an additional 81 shares in the last quarter. Putney Financial Group LLC acquired a new position in Datadog during the 4th quarter worth approximately $32,000. Elequin Capital LP acquired a new position in Datadog during the 4th quarter worth approximately $34,000. Coppell Advisory Solutions LLC increased its position in Datadog by 178.8% during the 4th quarter. Coppell Advisory Solutions LLC now owns 276 shares of the company's stock worth $40,000 after purchasing an additional 177 shares in the last quarter. Finally, Summit Securities Group LLC bought a new stake in Datadog during the 4th quarter worth approximately $43,000. 78.29% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

DDOG has been the topic of a number of research reports. Needham & Company LLC reduced their target price on shares of Datadog from $160.00 to $130.00 and set a "buy" rating on the stock in a report on Wednesday, May 7th. Royal Bank of Canada reissued an "outperform" rating and set a $119.00 target price on shares of Datadog in a report on Wednesday, May 7th. Barclays boosted 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. Wolfe Research lowered shares of Datadog from an "outperform" rating to a "peer perform" rating in a report on Tuesday, February 18th. Finally, Macquarie reduced their target price on shares of Datadog from $175.00 to $140.00 and set an "outperform" rating on the stock in a report on Wednesday, May 7th. Seven investment analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $141.04.

Insider Buying and Selling at Datadog

In related news, Director Amit Agarwal sold 10,167 shares of the company's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $115.86, for a total value of $1,177,948.62. Following the transaction, the director now owns 82,324 shares in the company, valued at $9,538,058.64. The trade was a 10.99% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at 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 transaction of $11,762,909.40. Following the completion of the transaction, the chief executive officer now directly owns 435,793 shares of the company's stock, valued at $47,745,481.08. This trade represents a 19.77% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 609,867 shares of company stock worth $63,443,152 over the last ninety days. Insiders own 11.78% of the company's stock.

Datadog Price Performance

Shares of Datadog stock traded down $0.07 during trading on Friday, reaching $116.93. 7,309,763 shares of the company traded hands, compared to its average volume of 4,410,246. Datadog, Inc. has a 1-year low of $81.63 and a 1-year high of $170.08. The firm has a market capitalization of $40.38 billion, a PE ratio of 229.28, a P/E/G ratio of 44.03 and a beta of 1.12. The company has a 50 day moving average price of $103.42 and a 200-day moving average price of $124.85.

Datadog (NASDAQ:DDOG - Get Free Report) last issued its earnings results on Tuesday, May 6th. The company reported $0.46 earnings per share for the quarter, topping analysts' consensus estimates of $0.42 by $0.04. The firm had revenue of $761.55 million during the quarter, compared to analyst estimates of $741.73 million. Datadog had a net margin of 6.85% and a return on equity of 8.28%. The company's quarterly revenue was up 24.6% on a year-over-year basis. During the same quarter last year, the business earned $0.44 earnings per share. Equities research analysts expect that Datadog, Inc. will post 0.34 earnings per share for the current year.

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.