OFI Invest Asset Management Acquires New Holdings in Datadog, Inc. (NASDAQ:DDOG)

OFI Invest Asset Management bought a new position in shares of Datadog, Inc. (NASDAQ:DDOG) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm bought 119,549 shares of the company’s stock, valued at approximately $16,497,000.

A number of other institutional investors have also recently bought and sold shares of DDOG. Los Angeles Capital Management LLC raised its holdings in shares of Datadog by 172.2% during the third quarter. Los Angeles Capital Management LLC now owns 38,841 shares of the company’s stock worth $4,469,000 after acquiring an additional 24,574 shares during the period. ARK Investment Management LLC raised its stake in shares of Datadog by 62.7% in the 4th quarter. ARK Investment Management LLC now owns 127,290 shares of the company’s stock valued at $18,188,000 after purchasing an additional 49,050 shares during the period. Baillie Gifford & Co. lifted its holdings in shares of Datadog by 15.8% in the fourth quarter. Baillie Gifford & Co. now owns 10,905,133 shares of the company’s stock valued at $1,558,234,000 after purchasing an additional 1,484,562 shares in the last quarter. Y Intercept Hong Kong Ltd boosted its position in shares of Datadog by 140.1% during the fourth quarter. Y Intercept Hong Kong Ltd now owns 53,116 shares of the company’s stock worth $7,590,000 after buying an additional 30,998 shares during the period. Finally, Atom Investors LP bought a new position in shares of Datadog during the third quarter worth about $1,112,000. Institutional investors own 78.29% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have commented on the company. JMP Securities restated a “market perform” rating on shares of Datadog in a research note on Friday, February 14th. Loop Capital increased their target price on shares of Datadog from $160.00 to $200.00 and gave the stock a “buy” rating in a report on Monday, December 23rd. Guggenheim reiterated a “neutral” rating on shares of Datadog in a research note on Wednesday, January 22nd. Jefferies Financial Group increased their price objective on shares of Datadog from $155.00 to $170.00 and gave the stock a “buy” rating in a research note on Monday, January 6th. Finally, Royal Bank of Canada lifted their target price on Datadog from $151.00 to $170.00 and gave the company an “outperform” rating in a research report on Friday, January 3rd. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, twenty-one have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Datadog has an average rating of “Moderate Buy” and a consensus target price of $158.70.

Datadog Stock Performance

DDOG stock opened at $109.63 on Friday. Datadog, Inc. has a 52 week low of $98.80 and a 52 week high of $170.08. The company’s 50-day simple moving average is $135.05 and its 200 day simple moving average is $131.76. The company has a market capitalization of $37.58 billion, a PE ratio of 214.96, a price-to-earnings-growth ratio of 44.03 and a beta of 1.22.

Datadog (NASDAQ:DDOG) last released its earnings results on Thursday, February 13th. The company reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.44 by ($0.31). Datadog had a return on equity of 8.28% and a net margin of 6.85%. On average, analysts forecast that Datadog, Inc. will post 0.34 EPS for the current year.

Insider Buying and Selling

In other Datadog news, Director Shardul Shah sold 7,916 shares of the firm’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $155.25, for a total value of $1,228,959.00. Following the sale, the director now owns 435,701 shares of the company’s stock, valued at approximately $67,642,580.25. This trade represents a 1.78 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CTO Alexis Le-Quoc sold 127,105 shares of the company’s stock in a transaction on Wednesday, January 8th. The stock was sold at an average price of $141.21, for a total value of $17,948,497.05. Following the sale, the chief technology officer now owns 324,778 shares of the company’s stock, valued at approximately $45,861,901.38. This represents a 28.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 589,353 shares of company stock worth $86,544,020. Corporate insiders own 11.78% of the company’s stock.

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.