KLP Kapitalforvaltning AS Buys Shares of 92,500 Datadog, Inc. (NASDAQ:DDOG)

KLP Kapitalforvaltning AS acquired a new stake in shares of Datadog, Inc. (NASDAQ:DDOG) in the fourth quarter, HoldingsChannel.com reports. The fund acquired 92,500 shares of the company’s stock, valued at approximately $13,217,000.

Other hedge funds have also recently modified their holdings of the company. Proficio Capital Partners LLC bought a new stake in shares of Datadog during the 4th quarter valued at $14,884,000. ARK Investment Management LLC grew its position in shares of Datadog by 62.7% during the 4th quarter. ARK Investment Management LLC now owns 127,290 shares of the company’s stock valued at $18,188,000 after acquiring an additional 49,050 shares during the period. Y Intercept Hong Kong Ltd grew its position in shares of Datadog by 140.1% during the 4th quarter. Y Intercept Hong Kong Ltd now owns 53,116 shares of the company’s stock valued at $7,590,000 after acquiring an additional 30,998 shares during the period. Baillie Gifford & Co. grew its position in shares of Datadog by 15.8% during the 4th quarter. Baillie Gifford & Co. now owns 10,905,133 shares of the company’s stock valued at $1,558,234,000 after acquiring an additional 1,484,562 shares during the period. Finally, Atom Investors LP bought a new stake in shares of Datadog during the 3rd quarter valued at $1,112,000. Institutional investors own 78.29% of the company’s stock.

Datadog Trading Up 1.8 %

Shares of NASDAQ DDOG opened at $105.03 on Monday. Datadog, Inc. has a 12-month low of $98.30 and a 12-month high of $170.08. The stock has a market capitalization of $36.00 billion, a price-to-earnings ratio of 205.95, a P/E/G ratio of 44.03 and a beta of 1.22. The firm’s 50-day moving average price is $126.97 and its 200-day moving average price is $131.01.

Datadog (NASDAQ:DDOG) last posted its quarterly earnings data 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%. On average, equities analysts predict that Datadog, Inc. will post 0.34 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on DDOG shares. Morgan Stanley reissued an “equal weight” rating and set a $143.00 price objective on shares of Datadog in a research report on Thursday, January 16th. Rosenblatt Securities upped their target price on shares of Datadog from $148.00 to $160.00 and gave the stock a “buy” rating in a report on Wednesday, February 12th. Needham & Company LLC reaffirmed a “buy” rating and issued a $160.00 target price on shares of Datadog in a report on Tuesday, March 4th. Macquarie reaffirmed an “outperform” rating and issued a $200.00 target price on shares of Datadog in a report on Tuesday, February 11th. Finally, Wells Fargo & Company downgraded shares of Datadog from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $152.00 to $140.00 in a report on Thursday, February 13th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, twenty-one have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, Datadog presently has an average rating of “Moderate Buy” and an average price target of $158.70.

Insider Buying and Selling

In other Datadog news, CTO Alexis Le-Quoc sold 127,105 shares of the company’s stock in a transaction dated Wednesday, January 8th. The shares were sold at an average price of $141.21, for a total value of $17,948,497.05. Following the transaction, the chief technology officer now directly owns 324,778 shares in the company, valued at $45,861,901.38. This represents a 28.13 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, President Amit Agarwal sold 25,000 shares of the company’s stock in a transaction dated Thursday, December 26th. The stock was sold at an average price of $147.99, for a total transaction of $3,699,750.00. Following the completion of the transaction, the president now owns 195,667 shares in the company, valued at $28,956,759.33. This represents a 11.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 626,412 shares of company stock valued at $79,144,334 in the last ninety days. 11.78% of the stock is owned by company insiders.

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.