Harvest Fund Management Co. Ltd Acquires 11,635 Shares of Datadog, Inc. (NASDAQ:DDOG)

Harvest Fund Management Co. Ltd grew its position in shares of Datadog, Inc. (NASDAQ:DDOG) by 81.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,966 shares of the company’s stock after purchasing an additional 11,635 shares during the period. Harvest Fund Management Co. Ltd’s holdings in Datadog were worth $3,570,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the company. Baillie Gifford & Co. grew its position in shares of Datadog by 15.8% during the 4th 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. Jennison Associates LLC grew its position in shares of Datadog by 47.9% during the 4th quarter. Jennison Associates LLC now owns 9,278,648 shares of the company’s stock valued at $1,325,826,000 after purchasing an additional 3,005,300 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Datadog by 2.5% during the 3rd quarter. Geode Capital Management LLC now owns 5,185,557 shares of the company’s stock valued at $595,438,000 after purchasing an additional 125,457 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Datadog by 2.4% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,024,926 shares of the company’s stock valued at $232,988,000 after purchasing an additional 46,746 shares in the last quarter. Finally, Holocene Advisors LP grew its position in shares of Datadog by 205.2% during the 3rd quarter. Holocene Advisors LP now owns 1,632,870 shares of the company’s stock valued at $187,878,000 after purchasing an additional 1,097,815 shares in the last quarter. 78.29% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Datadog news, CRO Sean Michael Walters sold 8,454 shares of the firm’s stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $102.04, for a total transaction of $862,646.16. Following the completion of the transaction, the executive now owns 185,871 shares of the company’s stock, valued at approximately $18,966,276.84. This trade represents a 4.35 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CTO Alexis Le-Quoc sold 127,105 shares of the firm’s stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $102.15, for a total transaction of $12,983,775.75. Following the transaction, the chief technology officer now directly owns 371,865 shares of the company’s stock, valued at $37,986,009.75. This represents a 25.47 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 626,412 shares of company stock valued at $79,144,334 over the last three months. Corporate insiders own 11.78% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on DDOG. Loop Capital boosted their price target on shares of Datadog from $160.00 to $200.00 and gave the company a “buy” rating in a research report on Monday, December 23rd. Mizuho upped their target price on shares of Datadog from $155.00 to $170.00 and gave the stock an “outperform” rating in a research report on Friday, December 13th. Wolfe Research lowered shares of Datadog from an “outperform” rating to a “peer perform” rating in a research report on Tuesday, February 18th. DA Davidson upped their target price on shares of Datadog from $150.00 to $165.00 and gave the stock a “buy” rating in a research report on Monday, February 10th. Finally, Wells Fargo & Company lowered shares of Datadog from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $152.00 to $140.00 in a research report on Thursday, February 13th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, twenty-one have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Datadog presently has an average rating of “Moderate Buy” and a consensus target price of $158.70.

Datadog Price Performance

DDOG stock opened at $102.93 on Wednesday. Datadog, Inc. has a 1 year low of $98.30 and a 1 year high of $170.08. The company has a market cap of $35.28 billion, a P/E ratio of 201.83, a PEG ratio of 44.03 and a beta of 1.22. The firm has a 50-day moving average of $129.20 and a 200 day moving average of $131.18.

Datadog (NASDAQ:DDOG) last released its quarterly earnings results on Thursday, February 13th. The company reported $0.13 earnings per share (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%. On average, equities research analysts expect 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.