Worldquant Millennium Advisors LLC Acquires Shares of 150,984 Datadog, Inc. (NASDAQ:DDOG)

Worldquant Millennium Advisors LLC bought a new position in shares of Datadog, Inc. (NASDAQ:DDOG - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 150,984 shares of the company's stock, valued at approximately $21,574,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Proficio Capital Partners LLC purchased a new position in Datadog in the fourth quarter valued at $14,884,000. ARK Investment Management LLC grew its position in shares of Datadog by 62.7% during the 4th quarter. ARK Investment Management LLC now owns 127,290 shares of the company's stock valued at $18,188,000 after acquiring an additional 49,050 shares during the period. Y Intercept Hong Kong Ltd increased its stake in shares of Datadog by 140.1% in the 4th quarter. Y Intercept Hong Kong Ltd now owns 53,116 shares of the company's stock valued at $7,590,000 after purchasing an additional 30,998 shares in the last quarter. Baillie Gifford & Co. increased its stake in shares of Datadog by 15.8% in the 4th 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 in the last quarter. Finally, Cullen Frost Bankers Inc. raised its holdings in Datadog by 3.5% in the 4th quarter. Cullen Frost Bankers Inc. now owns 72,489 shares of the company's stock worth $10,358,000 after purchasing an additional 2,451 shares during the period. 78.29% of the stock is owned by institutional investors and hedge funds.

Datadog Price Performance

Shares of DDOG traded down $1.21 during mid-day trading on Monday, reaching $114.46. The stock had a trading volume of 2,887,685 shares, compared to its average volume of 4,394,496. Datadog, Inc. has a 52-week low of $81.63 and a 52-week high of $170.08. The firm has a market cap of $39.53 billion, a price-to-earnings ratio of 224.44, a P/E/G ratio of 44.03 and a beta of 1.12. The business's fifty day moving average is $102.44 and its 200 day moving average is $125.11.

Datadog (NASDAQ:DDOG - Get Free Report) last posted its earnings results on Tuesday, May 6th. The company reported $0.46 earnings per share for the quarter, beating the consensus estimate of $0.42 by $0.04. The company had revenue of $761.55 million for 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%. Datadog's revenue was up 24.6% on a year-over-year basis. During the same period in the previous year, the business posted $0.44 EPS. As a group, sell-side analysts anticipate that Datadog, Inc. will post 0.34 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have commented on DDOG. Canaccord Genuity Group dropped their price objective on Datadog from $150.00 to $145.00 and set a "buy" rating on the stock in a report on Wednesday, May 7th. Royal Bank of Canada reissued an "outperform" rating and issued a $119.00 price target on shares of Datadog in a research note on Wednesday, May 7th. Needham & Company LLC reduced their price objective on shares of Datadog from $160.00 to $130.00 and set a "buy" rating for the company in a research report on Wednesday, May 7th. Macquarie dropped their target price on shares of Datadog from $175.00 to $140.00 and set an "outperform" rating on the stock in a research report on Wednesday, May 7th. Finally, Cantor Fitzgerald reissued an "overweight" rating and set a $134.00 target price on shares of Datadog in a research note on Wednesday, May 7th. Seven investment analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $141.54.

Insider Activity at Datadog

In other Datadog news, CEO Olivier Pomel sold 107,365 shares of Datadog stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $109.56, for a total transaction of $11,762,909.40. Following the completion of the sale, the chief executive officer now directly owns 435,793 shares in the company, valued at $47,745,481.08. This trade represents a 19.77% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Amit Agarwal sold 25,000 shares of the business's stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $114.21, for a total transaction of $2,855,250.00. Following the completion of the sale, the director now directly owns 82,324 shares in the company, valued at $9,402,224.04. This trade represents a 23.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 584,867 shares of company stock worth $60,517,652. 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.