HBK Investments L P Purchases New Holdings in Datadog, Inc. (NASDAQ:DDOG)

HBK Investments L P acquired a new stake in Datadog, Inc. (NASDAQ:DDOG - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 15,500 shares of the company's stock, valued at approximately $2,215,000.

Several other hedge funds also recently added to or reduced their stakes in DDOG. Groupama Asset Managment grew its stake in shares of Datadog by 407.6% in the 4th quarter. Groupama Asset Managment now owns 6,600,000 shares of the company's stock valued at $943,074,000 after purchasing an additional 5,299,688 shares during the last quarter. Norges Bank acquired a new stake in Datadog in the fourth quarter valued at $462,910,000. Jennison Associates LLC grew its stake in Datadog by 47.9% in the 4th quarter. Jennison Associates LLC now owns 9,278,648 shares of the company's stock valued at $1,325,826,000 after acquiring an additional 3,005,300 shares during the last quarter. Baillie Gifford & Co. increased its stake in shares of Datadog by 15.8% during the 4th quarter. Baillie Gifford & Co. now owns 10,905,133 shares of the company's stock worth $1,558,234,000 after purchasing an additional 1,484,562 shares in the last quarter. Finally, William Blair Investment Management LLC acquired a new position in shares of Datadog in the fourth quarter worth $173,163,000. 78.29% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CTO Alexis Le-Quoc sold 127,105 shares of the stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $142.78, for a total transaction of $18,148,051.90. Following the transaction, the chief technology officer now owns 324,778 shares in the company, valued at $46,371,802.84. This represents a 28.13 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CRO Sean Michael Walters sold 8,454 shares of the company's stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $102.04, for a total transaction of $862,646.16. Following the completion of the sale, the executive now owns 185,871 shares of the company's stock, valued at $18,966,276.84. This represents a 4.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 512,561 shares of company stock valued at $57,166,767. Corporate insiders own 11.78% of the company's stock.

Datadog Price Performance

NASDAQ DDOG traded up $0.77 on Tuesday, hitting $102.51. 931,727 shares of the company were exchanged, compared to its average volume of 4,334,916. Datadog, Inc. has a twelve month low of $81.63 and a twelve month high of $170.08. The company's 50 day moving average price is $102.20 and its 200-day moving average price is $127.12. The firm has a market capitalization of $35.14 billion, a P/E ratio of 201.22, a price-to-earnings-growth ratio of 44.03 and a beta of 1.20.

Datadog (NASDAQ:DDOG - Get Free Report) last posted its quarterly earnings data on Thursday, February 13th. The company reported $0.13 EPS for the quarter, missing analysts' consensus estimates of $0.44 by ($0.31). Datadog had a return on equity of 8.28% and a net margin of 6.85%. As a group, equities analysts expect that Datadog, Inc. will post 0.34 EPS for the current year.

Analyst Ratings Changes

A number of analysts recently issued reports on DDOG shares. Guggenheim restated a "neutral" rating on shares of Datadog in a research report on Wednesday, January 22nd. JMP Securities reissued a "market perform" rating on shares of Datadog in a research report on Friday, February 14th. Macquarie reaffirmed an "outperform" rating and issued a $200.00 price objective on shares of Datadog in a research report on Tuesday, February 11th. Stifel Nicolaus cut Datadog from a "buy" rating to a "hold" rating and cut their price target for the stock from $165.00 to $140.00 in a research note on Wednesday, January 29th. Finally, Royal Bank of Canada lifted their target price on Datadog from $151.00 to $170.00 and gave the stock an "outperform" rating in a research report on Friday, January 3rd. Seven equities research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $150.33.

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.