Soros Fund Management LLC Purchases 24,100 Shares of Datadog, Inc. (NASDAQ:DDOG)

Soros Fund Management LLC raised its holdings in shares of Datadog, Inc. (NASDAQ:DDOG) by 14.3% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 192,190 shares of the company’s stock after acquiring an additional 24,100 shares during the quarter. Soros Fund Management LLC’s holdings in Datadog were worth $27,462,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in DDOG. Vanguard Group Inc. increased its position in shares of Datadog by 0.7% in the fourth 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 during the last quarter. Baillie Gifford & Co. increased its holdings in Datadog by 15.8% during the fourth quarter. Baillie Gifford & Co. now owns 10,905,133 shares of the company’s stock worth $1,558,234,000 after buying an additional 1,484,562 shares during the last quarter. Jennison Associates LLC raised its position 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 in the last quarter. Groupama Asset Managment raised its position in Datadog by 407.6% during the fourth 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 in the last quarter. Finally, Geode Capital Management LLC raised its position in Datadog by 9.6% during the fourth quarter. Geode Capital Management LLC now owns 5,684,612 shares of the company’s stock worth $811,076,000 after acquiring an additional 499,055 shares in the last quarter. 78.29% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on DDOG shares. 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 target on the stock. Citigroup dropped their price objective on shares of Datadog from $170.00 to $165.00 and set a “buy” rating on the stock in a research report on Friday, February 14th. JMP Securities reissued a “market perform” rating on shares of Datadog in a research report on Friday, February 14th. Morgan Stanley dropped their price objective on shares of Datadog from $143.00 to $115.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 16th. Finally, Wells Fargo & Company downgraded shares of Datadog from an “overweight” rating to an “equal weight” rating and decreased their price target for the company from $152.00 to $140.00 in a research note on Thursday, February 13th. Seven analysts have rated the stock with a hold rating, twenty-two have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, Datadog presently has an average rating of “Moderate Buy” and a consensus target price of $150.33.

Datadog Price Performance

Shares of NASDAQ DDOG opened at $101.74 on Tuesday. The company has a 50 day simple moving average of $102.20 and a 200 day simple moving average of $127.12. The firm has a market cap of $34.87 billion, a PE ratio of 199.49, a price-to-earnings-growth 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.

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

Insider Transactions at Datadog

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