Virtus ETF Advisers LLC Acquires Shares of 9,102 Datadog, Inc. (NASDAQ:DDOG)

Virtus ETF Advisers LLC purchased a new position in Datadog, Inc. (NASDAQ:DDOG - Free Report) during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 9,102 shares of the company's stock, valued at approximately $1,301,000. Datadog accounts for approximately 0.5% of Virtus ETF Advisers LLC's holdings, making the stock its 27th biggest position.

A number of other institutional investors also recently bought and sold shares of DDOG. Proficio Capital Partners LLC acquired a new stake in shares of Datadog during the 4th quarter valued at about $14,884,000. ARK Investment Management LLC increased 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 valued at $18,188,000 after buying an additional 49,050 shares in the last quarter. Y Intercept Hong Kong Ltd raised its stake in shares of Datadog by 140.1% during the 4th 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. lifted its position in shares of Datadog by 15.8% during 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 in the last quarter. Finally, Cullen Frost Bankers Inc. grew its stake in 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 acquiring an additional 2,451 shares during the period. 78.29% of the stock is owned by hedge funds and other institutional investors.

Datadog Price Performance

Shares of DDOG stock traded down $1.58 during trading on Wednesday, reaching $100.73. The company's stock had a trading volume of 1,342,013 shares, compared to its average volume of 4,335,830. The company has a market capitalization of $34.53 billion, a price-to-earnings ratio of 197.51, a P/E/G ratio of 44.03 and a beta of 1.20. Datadog, Inc. has a 1-year low of $81.63 and a 1-year high of $170.08. The stock's 50-day moving average price is $101.72 and its 200 day moving average price is $126.95.

Datadog (NASDAQ:DDOG - Get Free Report) last announced its quarterly earnings data on Thursday, February 13th. The company reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.44 by ($0.31). Datadog had a net margin of 6.85% and a return on equity of 8.28%. On average, sell-side analysts anticipate that Datadog, Inc. will post 0.34 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CTO Alexis Le-Quoc sold 127,105 shares of the firm's stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $142.78, for a total value of $18,148,051.90. Following the sale, the chief technology officer now directly owns 324,778 shares in the company, valued at approximately $46,371,802.84. This trade represents a 28.13 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Olivier Pomel sold 107,365 shares of the firm's stock in a transaction on Monday, April 7th. The shares were sold at an average price of $87.33, for a total value of $9,376,185.45. Following the completion of the sale, the chief executive officer now owns 563,598 shares in the company, valued at approximately $49,219,013.34. This represents a 16.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 512,561 shares of company stock worth $57,166,767 over the last 90 days. 11.78% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research firms recently issued reports on DDOG. Macquarie reiterated an "outperform" rating and issued a $200.00 price objective on shares of Datadog in a report on Tuesday, February 11th. Royal Bank of Canada lifted their price target on Datadog from $151.00 to $170.00 and gave the stock an "outperform" rating in a research note on Friday, January 3rd. Guggenheim reissued a "neutral" rating on shares of Datadog in a research note on Wednesday, January 22nd. Rosenblatt Securities lifted their target price on shares of Datadog from $148.00 to $160.00 and gave the stock a "buy" rating in a research note on Wednesday, February 12th. Finally, JMP Securities reiterated a "market perform" rating on shares of Datadog in a research report on Friday, February 14th. Seven research analysts have rated the stock with a hold rating, twenty-two have given a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $150.33.

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.