ARK Investment Management LLC Has $18.19 Million Holdings in Datadog, Inc. (NASDAQ:DDOG)

ARK Investment Management LLC increased its stake in Datadog, Inc. (NASDAQ:DDOG) by 62.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 127,290 shares of the company’s stock after purchasing an additional 49,050 shares during the period. ARK Investment Management LLC’s holdings in Datadog were worth $18,188,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Allworth Financial LP boosted its stake in Datadog by 7.7% in the 4th quarter. Allworth Financial LP now owns 1,043 shares of the company’s stock worth $146,000 after purchasing an additional 75 shares during the period. Spire Wealth Management boosted its stake in Datadog by 21.4% in the 4th quarter. Spire Wealth Management now owns 453 shares of the company’s stock worth $65,000 after purchasing an additional 80 shares during the period. Avior Wealth Management LLC boosted its stake in Datadog by 55.9% in the 4th quarter. Avior Wealth Management LLC now owns 226 shares of the company’s stock worth $32,000 after purchasing an additional 81 shares during the period. Pathstone Holdings LLC lifted its position in Datadog by 0.4% during the 3rd quarter. Pathstone Holdings LLC now owns 23,152 shares of the company’s stock worth $2,664,000 after buying an additional 91 shares in the last quarter. Finally, Parsons Capital Management Inc. RI boosted its stake in shares of Datadog by 2.0% during the 4th quarter. Parsons Capital Management Inc. RI now owns 4,943 shares of the company’s stock worth $706,000 after buying an additional 96 shares during the last quarter. 78.29% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Citigroup lowered their target price on Datadog from $170.00 to $165.00 and set a “buy” rating on the stock in a research report on Friday, February 14th. BMO Capital Markets upped their price objective on Datadog from $135.00 to $145.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. Jefferies Financial Group increased their price objective on Datadog from $155.00 to $170.00 and gave the company a “buy” rating in a report on Monday, January 6th. Wolfe Research downgraded shares of Datadog from an “outperform” rating to a “peer perform” rating in a report on Tuesday, February 18th. Finally, Stifel Nicolaus cut shares of Datadog from a “buy” rating to a “hold” rating and cut their price target for the company from $165.00 to $140.00 in a research note on Wednesday, January 29th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, twenty-one have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Datadog presently has an average rating of “Moderate Buy” and an average price target of $158.70.

Insider Activity at Datadog

In related news, CEO Olivier Pomel sold 178,723 shares of the business’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $161.28, for a total value of $28,824,445.44. Following the completion of the transaction, the chief executive officer now owns 379,693 shares of the company’s stock, valued at $61,236,887.04. The trade was a 32.01 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CTO Alexis Le-Quoc sold 127,105 shares of the business’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $142.78, for a total value of $18,148,051.90. Following the completion of the transaction, the chief technology officer now directly owns 324,778 shares of the company’s stock, valued at approximately $46,371,802.84. This trade represents a 28.13 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 556,674 shares of company stock valued at $82,904,025 over the last quarter. 11.78% of the stock is owned by corporate insiders.

Datadog Trading Down 2.2 %

Shares of DDOG opened at $114.98 on Wednesday. Datadog, Inc. has a 12 month low of $98.80 and a 12 month high of $170.08. The firm’s 50 day moving average is $140.58 and its 200-day moving average is $131.97. The stock has a market capitalization of $39.06 billion, a PE ratio of 225.46, a P/E/G ratio of 44.03 and a beta of 1.15.

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%. Equities research analysts predict that Datadog, Inc. will post 0.34 earnings per share for the current fiscal year.

Datadog 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.