Skandinaviska Enskilda Banken AB publ Decreases Stake in Datadog, Inc. (NASDAQ:DDOG)

Skandinaviska Enskilda Banken AB publ reduced its stake in Datadog, Inc. (NASDAQ:DDOG) by 5.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 101,903 shares of the company’s stock after selling 5,313 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in Datadog were worth $14,692,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the stock. Baillie Gifford & Co. increased its stake in shares of Datadog by 15.8% during the fourth 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 period. Jennison Associates LLC increased its stake in shares of Datadog by 47.9% during the fourth quarter. Jennison Associates LLC now owns 9,278,648 shares of the company’s stock valued at $1,325,826,000 after buying an additional 3,005,300 shares during the period. Geode Capital Management LLC increased its stake in shares of Datadog by 2.5% during the third quarter. Geode Capital Management LLC now owns 5,185,557 shares of the company’s stock valued at $595,438,000 after buying an additional 125,457 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Datadog by 2.4% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,024,926 shares of the company’s stock valued at $232,988,000 after buying an additional 46,746 shares during the period. Finally, Holocene Advisors LP increased its stake in shares of Datadog by 205.2% during the third quarter. Holocene Advisors LP now owns 1,632,870 shares of the company’s stock valued at $187,878,000 after buying an additional 1,097,815 shares during the period. 78.29% of the stock is owned by hedge funds and other institutional investors.

Datadog Stock Performance

DDOG stock opened at $98.68 on Friday. Datadog, Inc. has a fifty-two week low of $98.30 and a fifty-two week high of $170.08. The business’s 50-day moving average is $131.67 and its two-hundred day moving average is $131.22. The company has a market cap of $33.82 billion, a price-to-earnings ratio of 193.49, a P/E/G ratio of 44.03 and a beta of 1.22.

Datadog (NASDAQ:DDOG) last posted its earnings results on Thursday, February 13th. The company reported $0.13 earnings per share for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.31). Datadog had a net margin of 6.85% and a return on equity of 8.28%. Equities analysts predict that Datadog, Inc. will post 0.34 earnings per share for the current year.

Insiders Place Their Bets

In other Datadog news, CTO Alexis Le-Quoc sold 127,105 shares of the company’s stock in a transaction dated Wednesday, January 8th. The stock was sold at an average price of $141.21, for a total value of $17,948,497.05. Following the completion of the sale, the chief technology officer now owns 324,778 shares in the company, valued at $45,861,901.38. This represents a 28.13 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Shardul Shah sold 7,916 shares of the company’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $155.25, for a total value of $1,228,959.00. Following the completion of the sale, the director now owns 435,701 shares of the company’s stock, valued at approximately $67,642,580.25. The trade was a 1.78 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 526,449 shares of company stock worth $70,345,130 over the last quarter. 11.78% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on DDOG. Wells Fargo & Company cut Datadog from an “overweight” rating to an “equal weight” rating and reduced their target price for the company from $152.00 to $140.00 in a research note on Thursday, February 13th. Royal Bank of Canada boosted their target price on Datadog from $151.00 to $170.00 and gave the company an “outperform” rating in a research note on Friday, January 3rd. Citigroup reduced their price target on Datadog from $170.00 to $165.00 and set a “buy” rating on the stock in a research note on Friday, February 14th. JMP Securities reaffirmed a “market perform” rating on shares of Datadog in a research note on Friday, February 14th. Finally, Morgan Stanley reaffirmed an “equal weight” rating and issued a $143.00 price target on shares of Datadog in a research note on Thursday, January 16th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, twenty-one have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $158.70.

Datadog 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.