Fullerton Fund Management Co Ltd. Makes New Investment in Datadog, Inc. (NASDAQ:DDOG)

Fullerton Fund Management Co Ltd. acquired a new stake in Datadog, Inc. (NASDAQ:DDOG - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 1,160,033 shares of the company's stock, valued at approximately $165,757,000. Datadog makes up 5.8% of Fullerton Fund Management Co Ltd.'s investment portfolio, making the stock its 7th largest position. Fullerton Fund Management Co Ltd. owned about 0.34% of Datadog as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in DDOG. GAMMA Investing LLC grew its holdings in Datadog by 40.3% in the fourth quarter. GAMMA Investing LLC now owns 790 shares of the company's stock valued at $113,000 after purchasing an additional 227 shares during the period. Nordea Investment Management AB raised its position in Datadog by 21.2% in the fourth quarter. Nordea Investment Management AB now owns 58,256 shares of the company's stock valued at $8,376,000 after purchasing an additional 10,199 shares during the period. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Datadog by 1.2% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 11,883 shares of the company's stock worth $1,698,000 after purchasing an additional 137 shares in the last quarter. Green Alpha Advisors LLC boosted its position in shares of Datadog by 18.3% in the fourth quarter. Green Alpha Advisors LLC now owns 3,301 shares of the company's stock worth $472,000 after buying an additional 511 shares during the period. Finally, Kieckhefer Group LLC purchased a new stake in shares of Datadog during the fourth quarter valued at approximately $43,000. 78.29% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. Needham & Company LLC cut their price target on Datadog from $160.00 to $130.00 and set a "buy" rating on the stock in a research note on Wednesday, May 7th. Rosenblatt Securities cut their target price on Datadog from $160.00 to $150.00 and set a "buy" rating on the stock in a research report on Monday, May 5th. UBS Group increased their target price on Datadog from $120.00 to $125.00 and gave the company a "buy" rating in a research note on Wednesday, May 7th. Jefferies Financial Group restated a "buy" rating on shares of Datadog in a research note on Tuesday, May 6th. Finally, Wolfe Research cut shares of Datadog from an "outperform" rating to a "peer perform" rating in a report on Tuesday, February 18th. Seven analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Datadog currently has a consensus rating of "Moderate Buy" and an average price target of $141.54.

Datadog Stock Performance

Shares of Datadog stock traded up $3.89 during midday trading on Tuesday, reaching $117.31. 6,363,446 shares of the company's stock traded hands, compared to its average volume of 4,345,929. The company has a market cap of $40.21 billion, a price-to-earnings ratio of 230.02, a price-to-earnings-growth ratio of 44.03 and a beta of 1.12. Datadog, Inc. has a 52 week low of $81.63 and a 52 week high of $170.08. The company's 50 day simple moving average is $100.17 and its 200 day simple moving average is $125.76.

Datadog (NASDAQ:DDOG - Get Free Report) last released its quarterly earnings results on Tuesday, May 6th. The company reported $0.46 EPS for the quarter, beating analysts' consensus estimates 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%. The company's quarterly revenue was up 24.6% compared to the same quarter last year. During the same quarter last year, the firm posted $0.44 earnings per share. As a group, equities research analysts predict that Datadog, Inc. will post 0.34 earnings per share for the current year.

Insider Transactions at Datadog

In other news, CEO Olivier Pomel sold 107,365 shares of the business's 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 sale, the chief executive officer now directly owns 435,793 shares in the company, valued at $47,745,481.08. The trade was a 19.77% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CTO Alexis Le-Quoc sold 127,105 shares of the business's stock in a transaction that occurred on Wednesday, May 7th. The shares were sold at an average price of $105.83, for a total value of $13,451,522.15. Following the completion of the sale, the chief technology officer now owns 466,535 shares in the company, valued at $49,373,399.05. The trade was a 21.41% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 559,867 shares of company stock worth $57,550,902 over the last 90 days. 11.78% of the stock is owned by insiders.

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.