Malaga Cove Capital LLC Decreases Stock Holdings in Datadog, Inc. (NASDAQ:DDOG)

Malaga Cove Capital LLC reduced its position in shares of Datadog, Inc. (NASDAQ:DDOG) by 0.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 18,087 shares of the company’s stock after selling 117 shares during the period. Datadog comprises approximately 1.0% of Malaga Cove Capital LLC’s portfolio, making the stock its 28th largest position. Malaga Cove Capital LLC’s holdings in Datadog were worth $2,584,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Vanguard Group Inc. raised its stake in Datadog by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 30,354,229 shares of the company’s stock worth $4,337,316,000 after acquiring an additional 220,527 shares in the last quarter. Baillie Gifford & Co. raised its stake in Datadog by 15.8% during the 4th quarter. Baillie Gifford & Co. now owns 10,905,133 shares of the company’s stock worth $1,558,234,000 after acquiring an additional 1,484,562 shares in the last quarter. Jennison Associates LLC raised its stake in Datadog by 47.9% during the 4th 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 stake in Datadog by 407.6% during the 4th 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 stake in Datadog by 9.6% during the 4th 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.

Insider Buying and Selling

In related news, Director Amit Agarwal sold 10,167 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $115.86, for a total transaction of $1,177,948.62. Following the completion of the transaction, the director now owns 82,324 shares of the company’s stock, valued at approximately $9,538,058.64. This represents a 10.99% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Olivier Pomel sold 107,365 shares of the company’s 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 transaction, the chief executive officer now directly owns 563,598 shares of the company’s stock, valued at $49,219,013.34. This trade represents a 16.00% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 559,867 shares of company stock valued at $57,550,902. Insiders own 11.78% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Guggenheim reiterated a “neutral” rating on shares of Datadog in a research note on Wednesday, January 22nd. Royal Bank of Canada reissued an “outperform” rating and set a $119.00 price objective on shares of Datadog in a research report on Wednesday, May 7th. JMP Securities reissued a “market perform” rating on shares of Datadog in a research report on Friday, February 14th. Wedbush lowered their price objective on shares of Datadog from $155.00 to $140.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 7th. Finally, UBS Group raised their price objective on shares of Datadog from $120.00 to $125.00 and gave the stock a “buy” rating in a research report on Wednesday, May 7th. Seven equities research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $141.54.

Datadog Trading Up 3.4%

DDOG stock opened at $117.31 on Wednesday. The company has a market cap of $40.21 billion, a P/E ratio of 230.02, a P/E/G ratio of 44.03 and a beta of 1.12. The company’s 50-day moving average price is $100.29 and its 200 day moving average price is $125.70. Datadog, Inc. has a 52 week low of $81.63 and a 52 week high of $170.08.

Datadog (NASDAQ:DDOG) last announced its earnings results on Tuesday, May 6th. The company reported $0.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.42 by $0.04. The company had revenue of $761.55 million during the quarter, compared to analysts’ expectations of $741.73 million. Datadog had a net margin of 6.85% and a return on equity of 8.28%. The firm’s quarterly revenue was up 24.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.44 earnings per share. On average, equities research analysts expect that Datadog, Inc. will post 0.34 earnings per share for the current year.

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.