Janus Henderson Group PLC Purchases 3,993,707 Shares of Datadog, Inc. (NASDAQ:DDOG)

Janus Henderson Group PLC grew its position in shares of Datadog, Inc. (NASDAQ:DDOG - Free Report) by 17,477.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,016,558 shares of the company's stock after purchasing an additional 3,993,707 shares during the period. Janus Henderson Group PLC owned about 1.18% of Datadog worth $573,923,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of the company. Retirement Wealth Solutions LLC purchased a new stake in Datadog in the fourth quarter worth approximately $30,000. Avior Wealth Management LLC boosted its stake in shares of Datadog by 55.9% in the 4th quarter. Avior Wealth Management LLC now owns 226 shares of the company's stock valued at $32,000 after purchasing an additional 81 shares in the last quarter. Coppell Advisory Solutions LLC boosted its stake in shares of Datadog by 178.8% in the 4th quarter. Coppell Advisory Solutions LLC now owns 276 shares of the company's stock valued at $40,000 after purchasing an additional 177 shares in the last quarter. Kieckhefer Group LLC purchased a new position in Datadog in the 4th quarter worth $43,000. Finally, Summit Securities Group LLC purchased a new position in shares of Datadog in the fourth quarter worth about $43,000. 78.29% of the stock is currently owned by institutional investors.

Insider Transactions at Datadog

In related news, CRO Sean Michael Walters sold 8,454 shares of the firm's stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $102.04, for a total value of $862,646.16. Following the transaction, the executive now owns 185,871 shares of the company's stock, valued at approximately $18,966,276.84. This trade represents a 4.35 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Matthew Jacobson sold 47,306 shares of the company's stock in a transaction that occurred on Wednesday, May 7th. The shares were sold at an average price of $107.40, for a total transaction of $5,080,664.40. Following the sale, 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 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. Insiders own 11.78% of the company's stock.

Datadog Stock Performance

Shares of NASDAQ:DDOG opened at $107.88 on Friday. The firm has a market cap of $36.98 billion, a price-to-earnings ratio of 211.53, a price-to-earnings-growth ratio of 44.03 and a beta of 1.12. The business has a 50-day simple moving average of $100.20 and a two-hundred day simple moving average of $125.84. Datadog, Inc. has a fifty-two week low of $81.63 and a fifty-two week high of $170.08.

Datadog (NASDAQ:DDOG - Get Free Report) last released its quarterly earnings data 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. Datadog had a net margin of 6.85% and a return on equity of 8.28%. The firm had revenue of $761.55 million during the quarter, compared to analysts' expectations of $741.73 million. During the same period in the previous year, the company earned $0.44 earnings per share. The firm's quarterly revenue was up 24.6% on a year-over-year basis. As a group, research analysts predict that Datadog, Inc. will post 0.34 earnings per share for the current year.

Analyst Upgrades and Downgrades

DDOG has been the subject of a number of recent analyst reports. Jefferies Financial Group reissued a "buy" rating on shares of Datadog in a research report on Tuesday. Barclays increased their price objective on Datadog from $125.00 to $128.00 and gave the stock an "overweight" rating in a report on Tuesday, May 6th. Wells Fargo & Company decreased their target price on Datadog from $140.00 to $115.00 and set an "equal weight" rating for the company in a report on Wednesday. Rosenblatt Securities cut their price target on shares of Datadog from $160.00 to $150.00 and set a "buy" rating on the stock in a report on Monday, May 5th. Finally, UBS Group upped their price objective on shares of Datadog from $120.00 to $125.00 and gave the stock a "buy" rating in a report on Wednesday. Seven 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 data from MarketBeat, Datadog currently has an average rating of "Moderate Buy" and a consensus price target of $141.54.

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.

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