Nissay Asset Management Corp Japan ADV Boosts Stake in Datadog, Inc. (NASDAQ:DDOG)

Nissay Asset Management Corp Japan ADV raised its position in shares of Datadog, Inc. (NASDAQ:DDOG - Free Report) by 4.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 65,892 shares of the company's stock after acquiring an additional 3,048 shares during the period. Nissay Asset Management Corp Japan ADV's holdings in Datadog were worth $9,620,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Proficio Capital Partners LLC purchased a new stake in Datadog during the fourth quarter valued at about $14,884,000. ARK Investment Management LLC boosted its position in shares of Datadog by 62.7% in the fourth quarter. ARK Investment Management LLC now owns 127,290 shares of the company's stock worth $18,188,000 after buying an additional 49,050 shares during the period. Y Intercept Hong Kong Ltd boosted its position in shares of Datadog by 140.1% in the fourth quarter. Y Intercept Hong Kong Ltd now owns 53,116 shares of the company's stock worth $7,590,000 after buying an additional 30,998 shares during the period. Baillie Gifford & Co. boosted its position in shares of Datadog by 15.8% in the fourth quarter. Baillie Gifford & Co. now owns 10,905,133 shares of the company's stock worth $1,558,234,000 after buying an additional 1,484,562 shares during the period. Finally, Cullen Frost Bankers Inc. boosted its position in shares of Datadog by 3.5% in the fourth quarter. Cullen Frost Bankers Inc. now owns 72,489 shares of the company's stock worth $10,358,000 after buying an additional 2,451 shares during the period. Hedge funds and other institutional investors own 78.29% of the company's stock.

Datadog Stock Up 1.5%

Shares of NASDAQ DDOG opened at $119.09 on Thursday. The stock's 50 day moving average price is $100.48 and its two-hundred day moving average price is $125.66. Datadog, Inc. has a 52-week low of $81.63 and a 52-week high of $170.08. The stock has a market capitalization of $40.82 billion, a P/E ratio of 233.51, 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 (EPS) for the quarter, beating the consensus estimate of $0.42 by $0.04. Datadog had a return on equity of 8.28% and a net margin of 6.85%. The firm had revenue of $761.55 million for the quarter, compared to analysts' expectations of $741.73 million. During the same quarter in the prior year, the firm posted $0.44 earnings per share. Datadog's revenue for the quarter was up 24.6% compared to the same quarter last year. On average, analysts anticipate that Datadog, Inc. will post 0.34 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Needham & Company LLC decreased their target price on Datadog from $160.00 to $130.00 and set a "buy" rating for the company in a research report on Wednesday, May 7th. Canaccord Genuity Group decreased their target price on Datadog from $150.00 to $145.00 and set a "buy" rating for the company in a research report on Wednesday, May 7th. Morgan Stanley decreased their target price on Datadog from $143.00 to $115.00 and set an "equal weight" rating for the company in a research report on Wednesday, April 16th. Truist Financial decreased their target price on Datadog from $140.00 to $120.00 and set a "hold" rating for the company in a research report on Monday, March 31st. Finally, Guggenheim reaffirmed a "neutral" rating on shares of Datadog in a research report on Wednesday, January 22nd. Seven investment analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company. According to MarketBeat, Datadog currently has an average rating of "Moderate Buy" and an average price target of $141.54.

Insider Buying and Selling at Datadog

In other news, Director Amit Agarwal sold 10,167 shares of the stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $115.86, for a total transaction of $1,177,948.62. Following the sale, the director now directly owns 82,324 shares in the company, valued at approximately $9,538,058.64. This represents a 10.99% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CRO Sean Michael Walters sold 8,454 shares of the stock in a transaction that occurred 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 sale, the executive now owns 185,871 shares in the company, valued at $18,966,276.84. The trade was a 4.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 559,867 shares of company stock worth $57,550,902 over the last quarter. 11.78% of the stock is owned by corporate insiders.

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.

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