Lazard Freres Gestion S.A.S. bought a new position in Datadog, Inc. (NASDAQ:DDOG – Free Report) in the fourth quarter, Holdings Channel reports. The firm bought 11,310 shares of the company’s stock, valued at approximately $1,538,000.
Other institutional investors also recently bought and sold shares of the company. Hartford Investment Management Co. acquired a new stake in Datadog in the 3rd quarter worth approximately $2,689,000. IQ EQ FUND MANAGEMENT IRELAND Ltd boosted its stake in Datadog by 134.5% in the 3rd quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 31,142 shares of the company’s stock worth $4,435,000 after purchasing an additional 17,860 shares in the last quarter. Vanguard Group Inc. boosted its stake in Datadog by 30.3% in the 3rd quarter. Vanguard Group Inc. now owns 41,902,227 shares of the company’s stock worth $5,966,877,000 after purchasing an additional 9,748,738 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its stake in Datadog by 71.3% in the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 170,310 shares of the company’s stock worth $24,288,000 after purchasing an additional 70,888 shares in the last quarter. Finally, Patton Fund Management Inc. boosted its stake in Datadog by 1,964.8% in the 4th quarter. Patton Fund Management Inc. now owns 38,550 shares of the company’s stock worth $5,242,000 after purchasing an additional 36,683 shares in the last quarter. 78.29% of the stock is currently owned by institutional investors and hedge funds.
Datadog Stock Performance
DDOG opened at $215.15 on Wednesday. The company has a debt-to-equity ratio of 0.25, a current ratio of 3.40 and a quick ratio of 3.40. The firm has a fifty day moving average price of $138.70 and a 200 day moving average price of $139.74. Datadog, Inc. has a 1 year low of $98.01 and a 1 year high of $215.68. The stock has a market cap of $76.58 billion, a P/E ratio of 566.20, a P/E/G ratio of 67.81 and a beta of 1.30.
Analyst Upgrades and Downgrades
Several analysts have commented on DDOG shares. Oppenheimer lifted their price objective on shares of Datadog from $200.00 to $220.00 in a research note on Thursday, May 7th. Canaccord Genuity Group set a $225.00 price objective on shares of Datadog in a research note on Friday, May 8th. Sanford C. Bernstein lifted their price objective on shares of Datadog from $167.00 to $180.00 and gave the company an “outperform” rating in a research note on Friday, May 8th. BMO Capital Markets lifted their price objective on shares of Datadog from $165.00 to $220.00 and gave the company an “outperform” rating in a research note on Friday, May 8th. Finally, Needham & Company LLC lifted their price objective on shares of Datadog from $155.00 to $225.00 and gave the company a “buy” rating in a research note on Friday, May 8th. One investment analyst has rated the stock with a Strong Buy rating, forty have assigned a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $213.38.
Check Out Our Latest Analysis on DDOG
Insider Activity at Datadog
In other Datadog news, CTO Alexis Le-Quoc sold 53,912 shares of the company’s stock in a transaction on Tuesday, March 10th. The shares were sold at an average price of $125.49, for a total transaction of $6,765,416.88. Following the completion of the transaction, the chief technology officer directly owned 437,257 shares in the company, valued at approximately $54,871,380.93. This represents a 10.98% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Matthew Jacobson sold 52,832 shares of the company’s stock in a transaction on Friday, May 8th. The stock was sold at an average price of $189.28, for a total transaction of $10,000,040.96. Following the transaction, the director owned 622,726 shares of the company’s stock, valued at $117,869,577.28. This represents a 7.82% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 842,739 shares of company stock worth $121,023,123 in the last three months. Company insiders own 6.48% of the company’s stock.
Datadog Company Profile
Datadog (NASDAQ: DDOG) is a cloud-based monitoring and observability platform that helps organizations monitor, troubleshoot and secure their applications and infrastructure at scale. Its software-as-a-service offering collects and analyzes metrics, traces and logs from servers, containers, cloud services and applications to provide real-time visibility into system performance and health. Datadog’s platform is widely used by engineering, operations and security teams to reduce downtime, accelerate incident response and improve application reliability.
The company’s product suite includes infrastructure monitoring, application performance monitoring (APM), log management, real user monitoring (RUM), synthetic monitoring and network performance monitoring, along with security-focused products such as security monitoring and cloud SIEM.
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