Manchester Global Management UK Ltd Makes New Investment in Datadog, Inc. (NASDAQ:DDOG)

Manchester Global Management UK Ltd purchased a new position in shares of Datadog, Inc. (NASDAQ:DDOG) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 181,179 shares of the company’s stock, valued at approximately $25,889,000. Datadog makes up approximately 3.4% of Manchester Global Management UK Ltd’s holdings, making the stock its 14th biggest holding. Manchester Global Management UK Ltd owned approximately 0.05% of Datadog as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently added to or reduced their stakes in DDOG. Vanguard Group Inc. raised its position in shares of Datadog by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 30,354,229 shares of the company’s stock valued at $4,337,316,000 after acquiring an additional 220,527 shares in the last quarter. Baillie Gifford & Co. boosted its holdings in shares of 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 period. Jennison Associates LLC raised 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 acquiring an additional 3,005,300 shares during the period. Groupama Asset Managment boosted its stake in Datadog by 407.6% in the fourth quarter. Groupama Asset Managment now owns 6,600,000 shares of the company’s stock valued at $943,074,000 after acquiring an additional 5,299,688 shares during the period. Finally, Geode Capital Management LLC grew its holdings in shares of 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 purchasing an additional 499,055 shares during the last quarter. 78.29% of the stock is owned by institutional investors and hedge funds.

Datadog Stock Down 2.5 %

Shares of DDOG stock opened at $88.92 on Tuesday. The company has a market capitalization of $30.48 billion, a P/E ratio of 174.36, a P/E/G ratio of 44.03 and a beta of 1.20. Datadog, Inc. has a 12-month low of $81.63 and a 12-month high of $170.08. The firm has a 50-day moving average price of $105.57 and a 200 day moving average price of $128.11.

Datadog (NASDAQ:DDOG) last posted 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 return on equity of 8.28% and a net margin of 6.85%. As a group, research analysts expect that Datadog, Inc. will post 0.34 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on DDOG. Morgan Stanley dropped their target price 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. Truist Financial dropped their price target on shares of Datadog from $140.00 to $120.00 and set a “hold” rating on the stock in a research note on Monday, March 31st. Royal Bank of Canada raised their target price on Datadog from $151.00 to $170.00 and gave the company an “outperform” rating in a research report on Friday, January 3rd. DA Davidson decreased their price target on Datadog from $165.00 to $115.00 and set a “buy” rating for the company in a research note on Monday, April 14th. Finally, Wolfe Research downgraded shares of Datadog from an “outperform” rating to a “peer perform” rating in a report on Tuesday, February 18th. 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 stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $150.33.

Insider Activity

In related news, CEO Olivier Pomel sold 107,365 shares of the stock in a transaction that occurred on Monday, April 7th. The stock was sold at an average price of $87.33, for a total transaction of $9,376,185.45. Following the completion of the sale, the chief executive officer now directly owns 563,598 shares of the company’s stock, valued at approximately $49,219,013.34. This represents a 16.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Amit Agarwal sold 25,000 shares of the business’s stock in a transaction dated Wednesday, January 22nd. The shares were sold at an average price of $139.47, for a total value of $3,486,750.00. Following the completion of the sale, the director now owns 195,667 shares in the company, valued at approximately $27,289,676.49. This trade represents a 11.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 548,756 shares of company stock valued at $62,219,250. Company insiders own 11.78% of the company’s stock.

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.