Investment Management Corp of Ontario Purchases 3,731 Shares of Datadog, Inc. (NASDAQ:DDOG)

Investment Management Corp of Ontario raised its position in Datadog, Inc. (NASDAQ:DDOG - Free Report) by 40.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 12,968 shares of the company's stock after buying an additional 3,731 shares during the quarter. Investment Management Corp of Ontario's holdings in Datadog were worth $1,853,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Retirement Wealth Solutions LLC acquired a new position in Datadog during the fourth quarter worth about $30,000. Avior Wealth Management LLC raised its stake in Datadog by 55.9% during the fourth quarter. Avior Wealth Management LLC now owns 226 shares of the company's stock worth $32,000 after acquiring an additional 81 shares in the last quarter. Coppell Advisory Solutions LLC raised its stake in Datadog by 178.8% during the fourth quarter. Coppell Advisory Solutions LLC now owns 276 shares of the company's stock worth $40,000 after acquiring an additional 177 shares in the last quarter. Kieckhefer Group LLC acquired a new position in Datadog during the fourth quarter worth about $43,000. Finally, Summit Securities Group LLC acquired a new position in Datadog during the fourth quarter worth about $43,000. Institutional investors and hedge funds own 78.29% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on DDOG shares. Guggenheim reaffirmed a "neutral" rating on shares of Datadog in a research note on Wednesday, January 22nd. Canaccord Genuity Group lowered their price objective on Datadog from $150.00 to $145.00 and set a "buy" rating for the company in a research note on Wednesday, May 7th. BTIG Research set a $136.00 price objective on Datadog and gave the company a "buy" rating in a research note on Tuesday, May 6th. Macquarie lowered their price objective on Datadog from $175.00 to $140.00 and set an "outperform" rating for the company in a research note on Wednesday, May 7th. Finally, Truist Financial lowered their price objective on Datadog from $140.00 to $120.00 and set a "hold" rating for the company in a research note on Monday, March 31st. Seven equities research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company's stock. According to MarketBeat, Datadog has a consensus rating of "Moderate Buy" and an average target price of $141.54.

Datadog Stock Performance

Shares of Datadog stock traded down $1.95 on Thursday, reaching $117.14. 4,196,007 shares of the company's stock were exchanged, compared to its average volume of 4,356,826. The company has a market capitalization of $40.15 billion, a P/E ratio of 229.69, 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 firm's 50-day moving average is $100.48 and its two-hundred day moving average is $125.66.

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

Insider Buying and Selling

In related news, CRO Sean Michael Walters sold 8,454 shares of the stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $102.04, for a total value of $862,646.16. Following the transaction, the executive now directly owns 185,871 shares in the company, valued at $18,966,276.84. This trade represents a 4.35% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Olivier Pomel sold 107,365 shares of the stock in a transaction on Monday, April 7th. The stock was sold at an average price of $87.33, for a total value of $9,376,185.45. Following the completion of the transaction, the chief executive officer now owns 563,598 shares in the company, valued at approximately $49,219,013.34. This represents a 16.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 559,867 shares of company stock worth $57,550,902 in the last ninety days. Corporate insiders own 11.78% of the company's stock.

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.