ProShare Advisors LLC Grows Stock Position in Datadog, Inc. (NASDAQ:DDOG)

ProShare Advisors LLC raised its stake in shares of Datadog, Inc. (NASDAQ:DDOG - Free Report) by 21.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 357,329 shares of the company's stock after buying an additional 63,390 shares during the quarter. ProShare Advisors LLC owned about 0.11% of Datadog worth $51,059,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of DDOG. Groupama Asset Managment increased its position in Datadog by 407.6% in the fourth quarter. Groupama Asset Managment now owns 6,600,000 shares of the company's stock worth $943,074,000 after purchasing an additional 5,299,688 shares during the last quarter. Janus Henderson Group PLC boosted its stake in Datadog by 17,477.2% during the fourth quarter. Janus Henderson Group PLC now owns 4,016,558 shares of the company's stock worth $573,923,000 after buying an additional 3,993,707 shares during the period. Norges Bank purchased a new position in Datadog during the fourth quarter worth $462,910,000. Jennison Associates LLC boosted its stake in Datadog by 47.9% during the fourth quarter. Jennison Associates LLC now owns 9,278,648 shares of the company's stock worth $1,325,826,000 after buying an additional 3,005,300 shares during the period. Finally, Brown Advisory Inc. boosted its stake in Datadog by 2,804.2% during the fourth quarter. Brown Advisory Inc. now owns 2,749,174 shares of the company's stock worth $392,830,000 after buying an additional 2,654,512 shares during the period. Institutional investors own 78.29% of the company's stock.

Insider Activity at Datadog

In other Datadog news, Director Matthew Jacobson sold 47,306 shares of the business's stock in a transaction that occurred on Wednesday, May 7th. The stock was sold at an average price of $107.40, for a total value of $5,080,664.40. Following the completion of the sale, the director now owns 25,468 shares in the company, valued at approximately $2,735,263.20. The trade was a 65.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Amit Agarwal sold 10,167 shares of the business's stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $115.86, for a total value of $1,177,948.62. Following the completion of the sale, the director now owns 82,324 shares of the company's stock, valued at approximately $9,538,058.64. This represents a 10.99% decrease in their position. The disclosure for this sale can be found here. Insiders sold 584,867 shares of company stock valued at $60,517,652 over the last three months. 11.78% of the stock is owned by corporate insiders.

Datadog Stock Down 1.0%

NASDAQ:DDOG traded down $1.21 on Monday, reaching $116.46. 4,864,193 shares of the company's stock were exchanged, compared to its average volume of 4,370,451. Datadog, Inc. has a 52-week low of $81.63 and a 52-week high of $170.08. The firm has a market capitalization of $40.22 billion, a price-to-earnings ratio of 228.36, a price-to-earnings-growth ratio of 44.03 and a beta of 1.12. The business has a fifty day moving average of $101.10 and a 200-day moving average of $125.50.

Datadog (NASDAQ:DDOG - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The company reported $0.46 EPS for the quarter, topping 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 business had revenue of $761.55 million during the quarter, compared to the consensus estimate of $741.73 million. During the same period in the previous year, the company posted $0.44 earnings per share. The business's revenue for the quarter was up 24.6% on a year-over-year basis. As a group, equities analysts anticipate that Datadog, Inc. will post 0.34 earnings per share for the current year.

Wall Street Analyst Weigh In

DDOG has been the subject of several recent analyst reports. Scotiabank set a $130.00 price objective on shares of Datadog and gave the stock an "outperform" rating in a research note on Wednesday, May 7th. Needham & Company LLC cut their price target on shares of Datadog from $160.00 to $130.00 and set a "buy" rating on the stock in a report on Wednesday, May 7th. Truist Financial cut their price target on shares of Datadog from $140.00 to $120.00 and set a "hold" rating on the stock in a report on Monday, March 31st. UBS Group upped their price target on shares of Datadog from $120.00 to $125.00 and gave the stock a "buy" rating in a report on Wednesday, May 7th. Finally, BTIG Research set a $136.00 price objective on shares of Datadog and gave the stock a "buy" rating in a research note on Tuesday, May 6th. Seven equities research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company's stock. Based on data from MarketBeat.com, Datadog presently has an average rating of "Moderate Buy" and a consensus target price 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.