Napa Wealth Management Makes New $1.47 Million Investment in Datadog, Inc. (NASDAQ:DDOG)

Napa Wealth Management bought a new stake in Datadog, Inc. (NASDAQ:DDOG - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 10,280 shares of the company's stock, valued at approximately $1,469,000.

A number of other hedge funds have also added to or reduced their stakes in DDOG. Vanguard Group Inc. grew its position in shares of Datadog by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 30,354,229 shares of the company's stock valued at $4,337,316,000 after acquiring an additional 220,527 shares during the period. Baillie Gifford & Co. grew its position 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 acquiring an additional 1,484,562 shares during the period. Jennison Associates LLC grew its position in shares of 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 period. Groupama Asset Managment boosted its holdings in shares of Datadog by 407.6% during the 4th quarter. Groupama Asset Managment now owns 6,600,000 shares of the company's stock worth $943,074,000 after buying an additional 5,299,688 shares during the period. Finally, Geode Capital Management LLC boosted its holdings in shares of Datadog by 9.6% during the 4th quarter. Geode Capital Management LLC now owns 5,684,612 shares of the company's stock worth $811,076,000 after buying an additional 499,055 shares during the period. Institutional investors own 78.29% of the company's stock.

Datadog Price Performance

Shares of Datadog stock traded up $0.53 during trading on Friday, reaching $117.67. 3,138,469 shares of the company traded hands, 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 company has a 50 day moving average price of $100.79 and a 200-day moving average price of $125.59. The firm has a market capitalization of $40.33 billion, a PE ratio of 230.73, a P/E/G ratio of 44.03 and a beta of 1.12.

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

Insider Activity at Datadog

In other Datadog news, Director Amit Agarwal sold 10,167 shares of the company's stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $115.86, for a total transaction of $1,177,948.62. Following the transaction, the director now owns 82,324 shares in the company, valued at approximately $9,538,058.64. This represents a 10.99% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible 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 transaction, the executive now owns 185,871 shares in the company, valued at approximately $18,966,276.84. The trade was a 4.35% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 559,867 shares of company stock worth $57,550,902 in the last quarter. Company insiders own 11.78% of the company's stock.

Wall Street Analysts Forecast Growth

DDOG has been the subject of several research analyst reports. Needham & Company LLC reduced their target price on shares of Datadog from $160.00 to $130.00 and set a "buy" rating for the company in a report on Wednesday, May 7th. Stifel Nicolaus set a $120.00 target price on shares of Datadog in a research report on Tuesday, May 6th. Canaccord Genuity Group decreased their price target on shares of Datadog from $150.00 to $145.00 and set a "buy" rating on the stock in a report on Wednesday, May 7th. Jefferies Financial Group reaffirmed a "buy" rating on shares of Datadog in a report on Tuesday, May 6th. Finally, Scotiabank set a $130.00 price target on shares of Datadog and gave the company an "outperform" rating in a report on Wednesday, May 7th. Seven research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus 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.