Midwest Professional Planners LTD. Acquires 250 Shares of Datadog, Inc. (NASDAQ:DDOG)

Midwest Professional Planners LTD. grew its holdings in shares of Datadog, Inc. (NASDAQ:DDOG) by 7.8% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 3,475 shares of the company’s stock after buying an additional 250 shares during the quarter. Midwest Professional Planners LTD.’s holdings in Datadog were worth $497,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of DDOG. Jennison Associates LLC grew its stake in shares of Datadog by 47.9% during the fourth quarter. Jennison Associates LLC now owns 9,278,648 shares of the company’s stock valued at $1,325,826,000 after buying an additional 3,005,300 shares during the last quarter. Baillie Gifford & Co. boosted 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 during the period. Holocene Advisors LP boosted its holdings in shares of Datadog by 205.2% in the third 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 during the period. Champlain Investment Partners LLC purchased a new stake in shares of Datadog in the third quarter valued at approximately $52,561,000. Finally, Eagle Asset Management Inc. boosted its holdings in shares of Datadog by 72.4% in the third quarter. Eagle Asset Management Inc. now owns 914,776 shares of the company’s stock valued at $113,844,000 after purchasing an additional 384,121 shares during the period. Institutional investors own 78.29% of the company’s stock.

Wall Street Analysts Forecast Growth

DDOG has been the subject of a number of research reports. Mizuho boosted their price target on Datadog from $155.00 to $170.00 and gave the company an “outperform” rating in a report on Friday, December 13th. DA Davidson boosted their price target on Datadog from $150.00 to $165.00 and gave the company a “buy” rating in a report on Monday, February 10th. JMP Securities reiterated a “market perform” rating on shares of Datadog in a report on Friday, February 14th. Needham & Company LLC reiterated a “buy” rating and issued a $160.00 price target on shares of Datadog in a report on Tuesday, March 4th. Finally, Wells Fargo & Company lowered Datadog from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $152.00 to $140.00 in a report on Thursday, February 13th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, twenty-one have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $158.70.

Datadog Price Performance

NASDAQ DDOG opened at $101.80 on Friday. The stock’s fifty day moving average price is $130.81 and its 200 day moving average price is $131.12. 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 $34.89 billion, a price-to-earnings ratio of 199.61, a PEG 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 net margin of 6.85% and a return on equity of 8.28%. Research analysts expect that Datadog, Inc. will post 0.34 earnings per share for the current year.

Insiders Place Their Bets

In other Datadog news, CTO Alexis Le-Quoc sold 127,105 shares of the stock in a transaction dated Wednesday, January 8th. The stock was sold at an average price of $141.21, for a total transaction of $17,948,497.05. Following the sale, the chief technology officer now directly owns 324,778 shares of the company’s stock, valued at approximately $45,861,901.38. This trade represents a 28.13 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Olivier Pomel sold 19,226 shares of the stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $153.73, for a total value of $2,955,612.98. Following the sale, the chief executive officer now directly owns 379,693 shares in the company, valued at $58,370,204.89. This represents a 4.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 653,554 shares of company stock valued at $83,328,905. Company insiders own 11.78% of the company’s stock.

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.