Geode Capital Management LLC Increases Stock Holdings in Datadog, Inc. (NASDAQ:DDOG)

Geode Capital Management LLC grew its stake in Datadog, Inc. (NASDAQ:DDOG) by 9.6% during the fourth quarter, HoldingsChannel reports. 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’s holdings in Datadog were worth $811,076,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of DDOG. Vanguard Group Inc. increased its stake in Datadog by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 30,354,229 shares of the company’s stock valued at $4,337,316,000 after buying an additional 220,527 shares during the period. Baillie Gifford & Co. increased its stake in shares of Datadog by 15.8% during the fourth quarter. Baillie Gifford & Co. now owns 10,905,133 shares of the company’s stock worth $1,558,234,000 after acquiring an additional 1,484,562 shares during the period. Jennison Associates LLC increased 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 worth $1,325,826,000 after acquiring an additional 3,005,300 shares during the period. Norges Bank purchased a new position in Datadog during the fourth quarter worth about $462,910,000. Finally, Charles Schwab Investment Management Inc. lifted its position in Datadog by 6.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,254,538 shares of the company’s stock valued at $179,261,000 after purchasing an additional 77,961 shares during the period. Hedge funds and other institutional investors own 78.29% of the company’s stock.

Analyst Upgrades and Downgrades

DDOG has been the subject of a number of analyst reports. Macquarie reissued an “outperform” rating and set a $200.00 target price on shares of Datadog in a research note on Tuesday, February 11th. Wolfe Research downgraded Datadog from an “outperform” rating to a “peer perform” rating in a report on Tuesday, February 18th. Cantor Fitzgerald assumed coverage on shares of Datadog in a research report on Friday, January 17th. They set an “overweight” rating and a $180.00 target price on the stock. Stifel Nicolaus downgraded shares of Datadog from a “buy” rating to a “hold” rating and cut their price target for the company from $165.00 to $140.00 in a report on Wednesday, January 29th. Finally, Guggenheim reissued a “neutral” rating on shares of Datadog in a report on Wednesday, January 22nd. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, twenty-one have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, Datadog currently has a consensus rating of “Moderate Buy” and a consensus price target of $157.22.

Insider Activity at Datadog

In related news, CRO Sean Michael Walters sold 8,454 shares of the stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $102.04, for a total value of $862,646.16. Following the transaction, the executive now directly 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 position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CTO Alexis Le-Quoc sold 127,105 shares of the business’s stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $102.15, for a total value of $12,983,775.75. Following the sale, the chief technology officer now directly owns 371,865 shares of the company’s stock, valued at approximately $37,986,009.75. This trade represents a 25.47 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 601,412 shares of company stock worth $75,444,584. 11.78% of the stock is owned by company insiders.

Datadog Stock Up 0.6 %

DDOG stock opened at $101.71 on Thursday. The stock 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, Inc. has a 52-week low of $96.63 and a 52-week high of $170.08. The stock’s fifty day simple moving average is $121.49 and its 200-day simple moving average is $130.62.

Datadog (NASDAQ:DDOG) last released its earnings results on Thursday, February 13th. The company reported $0.13 earnings per share 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%. As a group, analysts anticipate that Datadog, Inc. will post 0.34 earnings per share for the current fiscal 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.