William Blair Investment Management LLC Takes $173.16 Million Position in Datadog, Inc. (NASDAQ:DDOG)

William Blair Investment Management LLC bought a new stake in Datadog, Inc. (NASDAQ:DDOG) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 1,211,862 shares of the company’s stock, valued at approximately $173,163,000. William Blair Investment Management LLC owned approximately 0.36% of Datadog at the end of the most recent quarter.

Several other large investors have also modified their holdings of the stock. Retirement Wealth Solutions LLC acquired a new stake in Datadog during the 4th quarter worth $30,000. Avior Wealth Management LLC boosted its stake in Datadog by 55.9% during the 4th quarter. Avior Wealth Management LLC now owns 226 shares of the company’s stock worth $32,000 after purchasing an additional 81 shares during the period. True Wealth Design LLC boosted its stake in Datadog by 12,000.0% during the 3rd quarter. True Wealth Design LLC now owns 242 shares of the company’s stock worth $28,000 after purchasing an additional 240 shares during the period. Meeder Asset Management Inc. boosted its stake in Datadog by 66.5% during the 3rd quarter. Meeder Asset Management Inc. now owns 288 shares of the company’s stock worth $33,000 after purchasing an additional 115 shares during the period. Finally, Quarry LP acquired a new stake in Datadog during the 3rd quarter worth $33,000. Institutional investors and hedge funds own 78.29% of the company’s stock.

Datadog Trading Up 3.2 %

Shares of NASDAQ DDOG opened at $101.80 on Monday. The stock has a market cap of $34.89 billion, a price-to-earnings ratio of 199.61, a PEG ratio of 44.03 and a beta of 1.22. Datadog, Inc. has a 52 week low of $98.30 and a 52 week high of $170.08. The company’s 50-day moving average price is $130.81 and its 200 day moving average price is $131.35.

Datadog (NASDAQ:DDOG) last issued its quarterly earnings data on Thursday, February 13th. The company reported $0.13 EPS 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%. As a group, research analysts expect that Datadog, Inc. will post 0.34 earnings per share for the current year.

Insiders Place Their Bets

In related news, Director Shardul Shah sold 7,916 shares of the firm’s stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $142.12, for a total value of $1,125,021.92. Following the sale, the director now directly owns 427,785 shares of the company’s stock, valued at approximately $60,796,804.20. This trade represents a 1.82 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Alexis Le-Quoc sold 127,105 shares of the firm’s stock in a transaction that occurred on Wednesday, January 8th. The stock was sold at an average price of $141.21, for a total transaction of $17,948,497.05. Following the completion of the sale, the chief technology officer now directly 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 disclosure for this sale can be found here. Insiders have sold 645,638 shares of company stock valued at $82,099,946 in the last ninety days. Insiders own 11.78% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on DDOG. Needham & Company LLC reiterated a “buy” rating and set a $160.00 price target on shares of Datadog in a research note on Tuesday, March 4th. DA Davidson increased their price target on shares of Datadog from $150.00 to $165.00 and gave the stock a “buy” rating in a research note on Monday, February 10th. Royal Bank of Canada upped their price objective on shares of Datadog from $151.00 to $170.00 and gave the stock an “outperform” rating in a research report on Friday, January 3rd. Jefferies Financial Group upped their price objective on shares of Datadog from $155.00 to $170.00 and gave the stock a “buy” rating in a research report on Monday, January 6th. Finally, Cantor Fitzgerald started coverage on shares of Datadog in a research report on Friday, January 17th. They set an “overweight” rating and a $180.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, twenty-one have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, Datadog has an average rating of “Moderate Buy” and an average price target of $158.70.

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.