Abacus FCF Advisors LLC Acquires 8,928 Shares of Datadog, Inc. (NASDAQ:DDOG)

Abacus FCF Advisors LLC lifted its holdings in Datadog, Inc. (NASDAQ:DDOG) by 46.3% in the fourth quarter, HoldingsChannel reports. The fund owned 28,222 shares of the company’s stock after buying an additional 8,928 shares during the period. Abacus FCF Advisors LLC’s holdings in Datadog were worth $4,033,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in DDOG. Vanguard Group Inc. raised its position in Datadog by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 30,354,229 shares of the company’s stock worth $4,337,316,000 after purchasing an additional 220,527 shares during the period. Baillie Gifford & Co. grew 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 valued at $1,558,234,000 after buying an additional 1,484,562 shares during the last quarter. Jennison Associates LLC increased its holdings in shares of Datadog by 47.9% in the fourth quarter. Jennison Associates LLC now owns 9,278,648 shares of the company’s stock worth $1,325,826,000 after buying an additional 3,005,300 shares during the period. Groupama Asset Managment lifted its stake in shares of Datadog by 407.6% in the 4th quarter. Groupama Asset Managment now owns 6,600,000 shares of the company’s stock valued at $943,074,000 after acquiring an additional 5,299,688 shares during the last quarter. Finally, Geode Capital Management LLC boosted its holdings in Datadog by 9.6% during the 4th quarter. Geode Capital Management LLC now owns 5,684,612 shares of the company’s stock valued at $811,076,000 after acquiring an additional 499,055 shares during the period. 78.29% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have recently issued reports on DDOG shares. Royal Bank of Canada raised their target price on shares of Datadog from $151.00 to $170.00 and gave the stock an “outperform” rating in a report on Friday, January 3rd. Loop Capital boosted their price objective on shares of Datadog from $160.00 to $200.00 and gave the company a “buy” rating in a research report on Monday, December 23rd. DA Davidson increased their target price on shares of Datadog from $150.00 to $165.00 and gave the stock a “buy” rating in a report on Monday, February 10th. Cantor Fitzgerald began coverage on Datadog in a report on Friday, January 17th. They set an “overweight” rating and a $180.00 price target on the stock. Finally, Barclays dropped their price objective on Datadog from $187.00 to $180.00 and set an “overweight” rating for the company in a report on Friday, February 14th. One investment 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 company. Based on data from MarketBeat.com, Datadog presently has an average rating of “Moderate Buy” and a consensus target price of $156.67.

Insider Transactions at Datadog

In other news, Director Shardul Shah sold 7,916 shares of the business’s stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $142.12, for a total value of $1,125,021.92. Following the transaction, the director now owns 427,785 shares of the company’s stock, valued at approximately $60,796,804.20. The trade was a 1.82 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CTO Alexis Le-Quoc sold 127,105 shares of the stock in a transaction that occurred on 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 transaction, the chief technology officer now owns 371,865 shares of the company’s stock, valued at $37,986,009.75. This represents a 25.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 601,412 shares of company stock worth $75,444,584 in the last ninety days. Insiders own 11.78% of the company’s stock.

Datadog Stock Up 0.3 %

Shares of NASDAQ DDOG opened at $88.20 on Tuesday. The firm has a market cap of $30.23 billion, a P/E ratio of 172.94, a PEG ratio of 44.03 and a beta of 1.20. Datadog, Inc. has a twelve month low of $81.63 and a twelve month high of $170.08. The company has a 50 day moving average of $118.44 and a 200 day moving average of $130.26.

Datadog (NASDAQ:DDOG) last issued its earnings results on Thursday, February 13th. The company reported $0.13 earnings per share for the quarter, missing analysts’ consensus estimates 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, equities analysts expect that Datadog, Inc. will post 0.34 earnings per share for the current fiscal year.

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.