iA Global Asset Management Inc. Acquires 2,045 Shares of Datadog, Inc. (NASDAQ:DDOG)

iA Global Asset Management Inc. grew its holdings in shares of Datadog, Inc. (NASDAQ:DDOG) by 6.4% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 33,759 shares of the company’s stock after purchasing an additional 2,045 shares during the quarter. iA Global Asset Management Inc.’s holdings in Datadog were worth $4,824,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Retirement Wealth Solutions LLC bought a new position in Datadog during the fourth quarter worth about $30,000. Avior Wealth Management LLC boosted its position in Datadog by 55.9% during the fourth 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. True Wealth Design LLC boosted its position in Datadog by 12,000.0% during the third quarter. True Wealth Design LLC now owns 242 shares of the company’s stock worth $28,000 after purchasing an additional 240 shares during the period. Meeder Asset Management Inc. boosted its position in Datadog by 66.5% during the third quarter. Meeder Asset Management Inc. now owns 288 shares of the company’s stock worth $33,000 after purchasing an additional 115 shares during the period. Finally, Quarry LP bought a new position in Datadog during the third quarter worth about $33,000. Institutional investors own 78.29% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on DDOG shares. Truist Financial cut their target price on shares of Datadog from $150.00 to $140.00 and set a “hold” rating for the company in a research report on Friday, February 14th. Wells Fargo & Company downgraded shares of Datadog from an “overweight” rating to an “equal weight” rating and lowered their price target for the stock from $152.00 to $140.00 in a report on Thursday, February 13th. Wolfe Research downgraded shares of Datadog from an “outperform” rating to a “peer perform” rating in a report on Tuesday, February 18th. Jefferies Financial Group increased their price target on shares of Datadog from $155.00 to $170.00 and gave the stock a “buy” rating in a report on Monday, January 6th. Finally, Morgan Stanley reissued an “equal weight” rating and issued a $143.00 price target on shares of Datadog in a report on Thursday, January 16th. One analyst has rated the stock with a sell rating, seven have given a hold rating, twenty-one have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $158.70.

Insider Transactions at Datadog

In related news, CTO Alexis Le-Quoc sold 127,105 shares of Datadog stock in a transaction on Wednesday, January 8th. The shares were 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 in the company, valued at $45,861,901.38. The trade was a 28.13 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CRO Sean Michael Walters sold 8,454 shares of Datadog stock in a transaction 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 sale, the executive now owns 185,871 shares in the company, valued at approximately $18,966,276.84. This trade represents a 4.35 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 626,412 shares of company stock worth $79,144,334. Insiders own 11.78% of the company’s stock.

Datadog Stock Performance

DDOG stock opened at $103.17 on Friday. The company has a market capitalization of $35.36 billion, a PE ratio of 202.30, a price-to-earnings-growth ratio of 44.03 and a beta of 1.22. Datadog, Inc. has a one year low of $98.30 and a one year high of $170.08. The company’s 50 day moving average price is $127.67 and its two-hundred day moving average price is $130.80.

Datadog (NASDAQ:DDOG) last issued 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, research analysts predict that Datadog, Inc. will post 0.34 EPS for the current year.

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.