Berkshire Capital Holdings Inc. Purchases 73,190 Shares of Datadog, Inc. (NASDAQ:DDOG)

Berkshire Capital Holdings Inc. raised its position in Datadog, Inc. (NASDAQ:DDOG) by 731,900.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 73,200 shares of the company’s stock after acquiring an additional 73,190 shares during the quarter. Datadog makes up 3.8% of Berkshire Capital Holdings Inc.’s investment portfolio, making the stock its 11th largest position. Berkshire Capital Holdings Inc.’s holdings in Datadog were worth $10,460,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. iA Global Asset Management Inc. raised its position in Datadog by 6.4% during the 4th quarter. iA Global Asset Management Inc. now owns 33,759 shares of the company’s stock valued at $4,824,000 after purchasing an additional 2,045 shares during the last quarter. Teacher Retirement System of Texas raised its holdings in shares of Datadog by 400.3% during the fourth quarter. Teacher Retirement System of Texas now owns 22,283 shares of the company’s stock valued at $3,184,000 after acquiring an additional 17,829 shares in the last quarter. Sandy Spring Bank lifted its stake in Datadog by 28.4% in the fourth quarter. Sandy Spring Bank now owns 19,195 shares of the company’s stock worth $2,743,000 after acquiring an additional 4,248 shares during the period. Royal London Asset Management Ltd. boosted its holdings in Datadog by 6.1% in the fourth quarter. Royal London Asset Management Ltd. now owns 142,479 shares of the company’s stock valued at $20,359,000 after acquiring an additional 8,142 shares in the last quarter. Finally, Harvest Fund Management Co. Ltd increased its position in Datadog by 81.2% during the 4th quarter. Harvest Fund Management Co. Ltd now owns 25,966 shares of the company’s stock valued at $3,570,000 after purchasing an additional 11,635 shares during the period. 78.29% of the stock is currently owned by hedge funds and other institutional investors.

Datadog Trading Up 1.5 %

Datadog stock opened at $104.43 on Thursday. Datadog, Inc. has a 12-month low of $98.30 and a 12-month high of $170.08. The firm has a market capitalization of $35.79 billion, a price-to-earnings ratio of 204.77, a P/E/G ratio of 44.03 and a beta of 1.22. The firm has a 50 day moving average of $128.45 and a 200 day moving average of $130.99.

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 net margin of 6.85% and a return on equity of 8.28%. On average, analysts predict that Datadog, Inc. will post 0.34 EPS for the current year.

Insider Activity at Datadog

In related news, President Amit Agarwal sold 25,000 shares of Datadog stock in a transaction dated Thursday, December 26th. The stock was sold at an average price of $147.99, for a total value of $3,699,750.00. Following the completion of the transaction, the president now owns 195,667 shares in the company, valued at approximately $28,956,759.33. This trade represents a 11.33 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Olivier Pomel sold 11,195 shares of the company’s stock in a transaction that occurred on Monday, January 27th. The shares were sold at an average price of $139.86, for a total value of $1,565,732.70. Following the sale, the chief executive officer now owns 379,693 shares in the company, valued at approximately $53,103,862.98. This trade represents a 2.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 626,412 shares of company stock valued at $79,144,334. Corporate insiders own 11.78% of the company’s stock.

Analyst Upgrades and Downgrades

DDOG has been the topic of a number of research reports. Jefferies Financial Group lifted their target price on shares of Datadog from $155.00 to $170.00 and gave the company a “buy” rating in a research note on Monday, January 6th. Needham & Company LLC reaffirmed a “buy” rating and set a $160.00 price objective on shares of Datadog in a research report on Tuesday, March 4th. Mizuho upped their target price on Datadog from $155.00 to $170.00 and gave the stock an “outperform” rating in a report on Friday, December 13th. Wolfe Research cut Datadog from an “outperform” rating to a “peer perform” rating in a research note on Tuesday, February 18th. Finally, DA Davidson upped their price target on Datadog from $150.00 to $165.00 and gave the stock a “buy” rating in a research note on Monday, February 10th. 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 assigned a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $158.70.

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.