Geode Capital Management LLC Boosts Position in Datadog, Inc. (NASDAQ:DDOG)

Geode Capital Management LLC lifted its position in Datadog, Inc. (NASDAQ:DDOG) by 9.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 5,684,612 shares of the company’s stock after purchasing an additional 499,055 shares during the quarter. Geode Capital Management LLC owned about 1.67% of Datadog worth $811,076,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Retirement Wealth Solutions LLC acquired a new stake in shares of Datadog during the 4th quarter worth approximately $30,000. Avior Wealth Management LLC grew its position in Datadog by 55.9% in the fourth quarter. Avior Wealth Management LLC now owns 226 shares of the company’s stock worth $32,000 after acquiring an additional 81 shares during the period. Quarry LP acquired a new stake in Datadog during the third quarter worth $33,000. Kieckhefer Group LLC purchased a new stake in Datadog in the fourth quarter valued at $43,000. Finally, Summit Securities Group LLC acquired a new position in shares of Datadog in the 4th quarter valued at $43,000. 78.29% of the stock is currently owned by institutional investors and hedge funds.

Datadog Stock Up 0.6 %

Shares of DDOG opened at $101.71 on Thursday. Datadog, Inc. has a 52-week low of $96.63 and a 52-week high of $170.08. The stock has a 50 day moving average price of $121.49 and a 200 day moving average price of $130.62. The company has a market capitalization of $34.86 billion, a price-to-earnings ratio of 199.44, a price-to-earnings-growth ratio of 44.03 and a beta of 1.22.

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

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Jefferies Financial Group cut their price objective on Datadog from $170.00 to $150.00 and set a “buy” rating for the company in a research report on Monday. Macquarie reiterated an “outperform” rating and set a $200.00 price target on shares of Datadog in a research report on Tuesday, February 11th. Mizuho upped their price objective on shares of Datadog from $155.00 to $170.00 and gave the stock an “outperform” rating in a report on Friday, December 13th. Needham & Company LLC reiterated a “buy” rating and issued a $160.00 target price on shares of Datadog in a report on Tuesday, March 4th. Finally, Barclays cut their target price on Datadog from $187.00 to $180.00 and set an “overweight” rating on the stock in a research report on Friday, February 14th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, twenty-one have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Datadog presently has an average rating of “Moderate Buy” and a consensus target price of $157.22.

Insiders Place Their Bets

In other news, CTO Alexis Le-Quoc sold 127,105 shares of the firm’s stock in a transaction that occurred on Wednesday, January 8th. The shares were sold at an average price of $141.21, for a total transaction of $17,948,497.05. Following the transaction, the chief technology officer now directly owns 324,778 shares in the company, valued at approximately $45,861,901.38. This trade represents a 28.13 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Olivier Pomel sold 11,195 shares of Datadog stock in a transaction on Monday, January 27th. The shares were sold at an average price of $139.86, for a total transaction of $1,565,732.70. Following the completion of the transaction, the chief executive officer now directly owns 379,693 shares in the company, valued at $53,103,862.98. The trade was a 2.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 601,412 shares of company stock valued at $75,444,584. 11.78% of the stock is currently owned by insiders.

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.