MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Increases Stock Position in Datadog, Inc. (NASDAQ:DDOG)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Datadog, Inc. (NASDAQ:DDOG - Free Report) by 6.9% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 327,068 shares of the company's stock after acquiring an additional 21,099 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned about 0.10% of Datadog worth $46,738,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Proficio Capital Partners LLC purchased a new position in Datadog during the 4th quarter worth $14,884,000. ARK Investment Management LLC lifted its position in Datadog by 62.7% during the 4th quarter. ARK Investment Management LLC now owns 127,290 shares of the company's stock worth $18,188,000 after acquiring an additional 49,050 shares during the period. Y Intercept Hong Kong Ltd lifted its holdings 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 buying an additional 30,998 shares during the period. Baillie Gifford & Co. lifted its holdings 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 buying an additional 1,484,562 shares during the period. Finally, Cullen Frost Bankers Inc. lifted its holdings in shares of Datadog by 3.5% in the 4th quarter. Cullen Frost Bankers Inc. now owns 72,489 shares of the company's stock valued at $10,358,000 after buying an additional 2,451 shares during the period. 78.29% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Datadog news, CTO Alexis Le-Quoc sold 127,105 shares of the business's stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $102.15, for a total value of $12,983,775.75. Following the completion of the transaction, the chief technology officer now directly owns 371,865 shares in the company, valued at approximately $37,986,009.75. The trade was a 25.47% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Olivier Pomel sold 107,365 shares of the business's stock in a transaction on Friday, March 7th. The shares were sold at an average price of $109.56, for a total value of $11,762,909.40. Following the completion of the transaction, the chief executive officer now owns 435,793 shares of the company's stock, valued at $47,745,481.08. This trade represents a 19.77% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 584,867 shares of company stock worth $60,517,652 in the last ninety days. Insiders own 11.78% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on DDOG shares. BTIG Research set a $136.00 price target on Datadog and gave the stock a "buy" rating in a report on Tuesday, May 6th. JMP Securities restated a "market perform" rating on shares of Datadog in a research report on Friday, February 14th. Morgan Stanley decreased their price objective on Datadog from $143.00 to $115.00 and set an "equal weight" rating on the stock in a report on Wednesday, April 16th. UBS Group upped their price target on Datadog from $120.00 to $125.00 and gave the stock a "buy" rating in a research note on Wednesday, May 7th. Finally, Royal Bank of Canada reiterated an "outperform" rating and issued a $119.00 price objective on shares of Datadog in a research note on Wednesday, May 7th. Seven equities research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the stock. Based on data from MarketBeat.com, Datadog has a consensus rating of "Moderate Buy" and an average target price of $141.54.

Datadog Trading Up 0.5%

Shares of NASDAQ DDOG traded up $0.53 during midday trading on Friday, reaching $117.67. 3,138,469 shares of the company were exchanged, compared to its average volume of 4,359,271. Datadog, Inc. has a 1 year low of $81.63 and a 1 year high of $170.08. The stock has a fifty day simple moving average of $101.10 and a 200 day simple moving average of $125.52. The stock has a market cap of $40.33 billion, a P/E ratio of 230.73, a PEG ratio of 44.03 and a beta of 1.12.

Datadog (NASDAQ:DDOG - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The company reported $0.46 earnings per share for the quarter, beating analysts' consensus estimates of $0.42 by $0.04. Datadog had a return on equity of 8.28% and a net margin of 6.85%. The company had revenue of $761.55 million for the quarter, compared to analyst estimates of $741.73 million. During the same quarter in the previous year, the company earned $0.44 EPS. The firm's revenue for the quarter was up 24.6% compared to the same quarter last year. As a group, analysts forecast that Datadog, Inc. will post 0.34 earnings per share for the current year.

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.