3,178 Shares in Datadog, Inc. (NASDAQ:DDOG) Bought by Newlands Management Operations LLC

Newlands Management Operations LLC purchased a new stake in Datadog, Inc. (NASDAQ:DDOG) during the fourth quarter, HoldingsChannel.com reports. The fund purchased 3,178 shares of the company’s stock, valued at approximately $454,000. Datadog makes up approximately 0.0% of Newlands Management Operations LLC’s holdings, making the stock its 24th largest holding.

A number of other institutional investors also recently bought and sold shares of the business. Groupama Asset Managment raised its position in Datadog by 407.6% in the 4th quarter. Groupama Asset Managment now owns 6,600,000 shares of the company’s stock valued at $943,074,000 after purchasing an additional 5,299,688 shares during the last quarter. Janus Henderson Group PLC raised its stake in Datadog by 17,477.2% during the 4th quarter. Janus Henderson Group PLC now owns 4,016,558 shares of the company’s stock valued at $573,923,000 after acquiring an additional 3,993,707 shares during the last quarter. Norges Bank purchased a new position in shares of Datadog in the 4th quarter valued at approximately $462,910,000. Jennison Associates LLC lifted its stake in shares of Datadog by 47.9% in 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 during the period. Finally, Brown Advisory Inc. lifted its holdings in shares of Datadog by 2,804.2% in the 4th quarter. Brown Advisory Inc. now owns 2,749,174 shares of the company’s stock valued at $392,830,000 after buying an additional 2,654,512 shares during the period. 78.29% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have commented on DDOG. UBS Group raised their target price on Datadog from $120.00 to $125.00 and gave the company a “buy” rating in a report on Wednesday, May 7th. DA Davidson lifted their price target on shares of Datadog from $115.00 to $125.00 and gave the company a “buy” rating in a research report on Monday, May 5th. Macquarie reduced their price objective on Datadog from $175.00 to $140.00 and set an “outperform” rating for the company in a report on Wednesday, May 7th. Canaccord Genuity Group lowered their target price on Datadog from $150.00 to $145.00 and set a “buy” rating on the stock in a report on Wednesday, May 7th. Finally, Wolfe Research downgraded Datadog from an “outperform” rating to a “peer perform” rating in a research note on Tuesday, February 18th. Seven research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company. According to data from MarketBeat.com, Datadog has an average rating of “Moderate Buy” and an average target price of $141.54.

Insider Activity at Datadog

In related news, Director Matthew Jacobson sold 47,306 shares of Datadog stock in a transaction on Wednesday, May 7th. The stock was sold at an average price of $107.40, for a total transaction of $5,080,664.40. Following the completion of the sale, the director now directly owns 25,468 shares of the company’s stock, valued at $2,735,263.20. The trade was a 65.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Amit Agarwal sold 10,167 shares of the stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $115.86, for a total transaction of $1,177,948.62. Following the completion of the sale, the director now owns 82,324 shares in the company, valued at approximately $9,538,058.64. This trade represents a 10.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 559,867 shares of company stock worth $57,550,902. 11.78% of the stock is owned by insiders.

Datadog Stock Up 3.4%

Shares of NASDAQ DDOG opened at $117.31 on Wednesday. The stock has a market capitalization of $40.21 billion, a price-to-earnings ratio of 230.02, a PEG ratio of 44.03 and a beta of 1.12. Datadog, Inc. has a 52-week low of $81.63 and a 52-week high of $170.08. The stock’s fifty day simple moving average is $100.29 and its 200 day simple moving average is $125.70.

Datadog (NASDAQ:DDOG) last posted its earnings results on Tuesday, May 6th. The company reported $0.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.42 by $0.04. The firm 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 company’s revenue was up 24.6% compared to the same quarter last year. During the same period in the previous year, the company earned $0.44 earnings per share. As a group, analysts anticipate that Datadog, Inc. will post 0.34 earnings per share for the current year.

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.