Mackenzie Financial Corp Increases Stock Holdings in Datadog, Inc. (NASDAQ:DDOG)

Mackenzie Financial Corp boosted its position in shares of Datadog, Inc. (NASDAQ:DDOG - Free Report) by 179.6% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 57,542 shares of the company's stock after buying an additional 36,960 shares during the quarter. Mackenzie Financial Corp's holdings in Datadog were worth $8,222,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently bought and sold shares of DDOG. Groupama Asset Managment boosted its stake in Datadog by 407.6% during the fourth quarter. Groupama Asset Managment now owns 6,600,000 shares of the company's stock worth $943,074,000 after buying an additional 5,299,688 shares during the period. Janus Henderson Group PLC lifted its position in shares of Datadog by 17,477.2% during the fourth quarter. Janus Henderson Group PLC now owns 4,016,558 shares of the company's stock worth $573,923,000 after purchasing an additional 3,993,707 shares during the last quarter. Norges Bank bought a new stake in shares of Datadog during the fourth quarter worth $462,910,000. Jennison Associates LLC lifted its position in shares of Datadog by 47.9% during the fourth quarter. Jennison Associates LLC now owns 9,278,648 shares of the company's stock worth $1,325,826,000 after purchasing an additional 3,005,300 shares during the last quarter. Finally, Brown Advisory Inc. lifted its position in shares of Datadog by 2,804.2% during the fourth quarter. Brown Advisory Inc. now owns 2,749,174 shares of the company's stock worth $392,830,000 after purchasing an additional 2,654,512 shares during the last quarter. 78.29% of the stock is owned by hedge funds and other institutional investors.

Datadog Price Performance

NASDAQ:DDOG traded down $0.07 during trading hours on Friday, reaching $116.93. The company had a trading volume of 7,309,763 shares, compared to its average volume of 4,385,911. Datadog, Inc. has a 1-year low of $81.63 and a 1-year high of $170.08. The firm has a market cap of $40.38 billion, a PE ratio of 229.28, a price-to-earnings-growth ratio of 44.03 and a beta of 1.12. The business's 50 day moving average price is $103.42 and its 200-day moving average price is $124.78.

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

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. Canaccord Genuity Group decreased their target price on Datadog from $150.00 to $145.00 and set a "buy" rating for the company in a research report on Wednesday, May 7th. Stifel Nicolaus set a $120.00 price objective on Datadog in a report on Tuesday, May 6th. Jefferies Financial Group restated a "buy" rating on shares of Datadog in a report on Tuesday, May 6th. Cantor Fitzgerald restated an "overweight" rating and issued a $134.00 price objective on shares of Datadog in a report on Wednesday, May 7th. Finally, Macquarie decreased their price objective on Datadog from $175.00 to $140.00 and set an "outperform" rating for the company 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 company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $141.04.

Insider Buying and Selling at Datadog

In related news, Director Matthew Jacobson sold 47,306 shares of the stock in a transaction on Wednesday, May 7th. The stock was sold at an average price of $107.40, for a total value of $5,080,664.40. Following the completion of the transaction, the director now directly owns 25,468 shares of the company's stock, valued at approximately $2,735,263.20. This represents a 65.00% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Amit Agarwal sold 10,167 shares of the stock in a transaction on 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 completion of the transaction, the director now directly owns 82,324 shares of the company's stock, valued at approximately $9,538,058.64. This represents a 10.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 609,867 shares of company stock valued at $63,443,152. 11.78% of the stock is 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.