Rafferty Asset Management LLC Has $15.50 Million Stock Holdings in Datadog, Inc. (NASDAQ:DDOG)

Rafferty Asset Management LLC trimmed its holdings in shares of Datadog, Inc. (NASDAQ:DDOG - Free Report) by 11.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 108,459 shares of the company's stock after selling 14,078 shares during the quarter. Rafferty Asset Management LLC's holdings in Datadog were worth $15,498,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in Datadog by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 30,354,229 shares of the company's stock valued at $4,337,316,000 after purchasing an additional 220,527 shares during the last quarter. Baillie Gifford & Co. grew its stake in 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 last quarter. Jennison Associates LLC raised its holdings in Datadog by 47.9% in the 4th quarter. Jennison Associates LLC now owns 9,278,648 shares of the company's stock worth $1,325,826,000 after acquiring an additional 3,005,300 shares during the period. Groupama Asset Managment lifted its position in 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 acquiring an additional 5,299,688 shares during the last quarter. Finally, Geode Capital Management LLC boosted its holdings in Datadog by 9.6% during the fourth quarter. Geode Capital Management LLC now owns 5,684,612 shares of the company's stock valued at $811,076,000 after acquiring an additional 499,055 shares during the period. 78.29% of the stock is currently owned by institutional investors.

Datadog Price Performance

Shares of NASDAQ DDOG traded down $2.15 during mid-day trading on Wednesday, hitting $114.14. The company's stock had a trading volume of 1,379,550 shares, compared to its average volume of 4,361,459. Datadog, Inc. has a one year low of $81.63 and a one year high of $170.08. The company's fifty day simple moving average is $101.74 and its 200-day simple moving average is $125.39. The stock has a market cap of $39.42 billion, a price-to-earnings ratio of 224.50, a price-to-earnings-growth 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 analysts' consensus estimates of $0.42 by $0.04. The firm had revenue of $761.55 million for the quarter, compared to analysts' expectations of $741.73 million. Datadog had a net margin of 6.85% and a return on equity of 8.28%. The business's revenue for the quarter was up 24.6% on a year-over-year basis. During the same period last year, the firm earned $0.44 earnings per share. On average, sell-side analysts predict that Datadog, Inc. will post 0.34 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on DDOG. Cantor Fitzgerald reissued an "overweight" rating and set a $134.00 price objective on shares of Datadog in a research report on Wednesday, May 7th. Morgan Stanley dropped their price target on Datadog from $143.00 to $115.00 and set an "equal weight" rating on the stock in a research report on Wednesday, April 16th. Scotiabank set a $130.00 price objective on Datadog and gave the company an "outperform" rating in a research report on Wednesday, May 7th. Wolfe Research lowered shares of Datadog from an "outperform" rating to a "peer perform" rating in a research report on Tuesday, February 18th. Finally, BTIG Research set a $136.00 target price on shares of Datadog and gave the company a "buy" rating in a research note on Tuesday, May 6th. Seven research analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $141.54.

Insider Transactions at Datadog

In other news, CTO Alexis Le-Quoc sold 127,105 shares of Datadog stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $102.15, for a total transaction of $12,983,775.75. Following the transaction, the chief technology officer now directly owns 371,865 shares of the company's stock, valued at $37,986,009.75. This trade represents a 25.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Amit Agarwal sold 25,000 shares of the business's stock in a transaction on Wednesday, May 14th. The shares were sold at an average price of $118.67, for a total transaction of $2,966,750.00. Following the completion of the transaction, the director now directly owns 82,324 shares of the company's stock, valued at $9,769,389.08. This trade represents a 23.29% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 584,867 shares of company stock worth $60,517,652. 11.78% of the stock is currently owned by company insiders.

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.