ProShare Advisors LLC Grows Stock Position in Datadog, Inc. (NASDAQ:DDOG)

ProShare Advisors LLC boosted its position in Datadog, Inc. (NASDAQ:DDOG) by 21.6% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 357,329 shares of the company’s stock after purchasing an additional 63,390 shares during the period. ProShare Advisors LLC’s holdings in Datadog were worth $51,059,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of DDOG. Groupama Asset Managment increased its position in Datadog by 407.6% in the fourth quarter. Groupama Asset Managment now owns 6,600,000 shares of the company’s stock worth $943,074,000 after buying an additional 5,299,688 shares during the last quarter. Janus Henderson Group PLC increased its position in Datadog by 17,477.2% in the fourth quarter. Janus Henderson Group PLC now owns 4,016,558 shares of the company’s stock worth $573,923,000 after buying an additional 3,993,707 shares during the last quarter. Norges Bank purchased a new stake in Datadog in the fourth quarter worth $462,910,000. Jennison Associates LLC increased its position in 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 last quarter. Finally, Brown Advisory Inc. increased its position in Datadog by 2,804.2% in the fourth quarter. Brown Advisory Inc. now owns 2,749,174 shares of the company’s stock worth $392,830,000 after buying an additional 2,654,512 shares during the last quarter. 78.29% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on DDOG shares. Barclays raised their target price on Datadog from $125.00 to $128.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 6th. DA Davidson raised their price target on Datadog from $115.00 to $125.00 and gave the stock a “buy” rating in a report on Monday, May 5th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $134.00 price target on shares of Datadog in a report on Wednesday, May 7th. Stifel Nicolaus set a $120.00 price target on Datadog in a report on Tuesday, May 6th. Finally, Needham & Company LLC cut their price target on Datadog from $160.00 to $130.00 and set a “buy” rating for the company in a report on Wednesday, May 7th. Seven equities research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $141.54.

Datadog Stock Down 1.6%

NASDAQ DDOG opened at $117.14 on Friday. The stock’s 50-day simple moving average is $100.79 and its two-hundred day simple moving average is $125.59. Datadog, Inc. has a twelve month low of $81.63 and a twelve month high of $170.08. The company has a market capitalization of $40.15 billion, a price-to-earnings ratio of 229.69, a PEG ratio of 44.03 and a beta of 1.12.

Datadog (NASDAQ:DDOG) last released its quarterly earnings results on Tuesday, May 6th. The company reported $0.46 earnings per share for the quarter, beating analysts’ consensus estimates of $0.42 by $0.04. Datadog had a return on equity of 8.28% and a net margin of 6.85%. The business had revenue of $761.55 million for the quarter, compared to the consensus estimate of $741.73 million. During the same quarter last year, the business posted $0.44 earnings per share. The company’s revenue for the quarter was up 24.6% on a year-over-year basis. On average, equities analysts expect that Datadog, Inc. will post 0.34 earnings per share for the current fiscal year.

Insider Buying and Selling at Datadog

In other news, Director Amit Agarwal sold 25,000 shares of Datadog stock in a transaction dated Wednesday, March 5th. The stock was sold at an average price of $114.21, for a total value of $2,855,250.00. Following the transaction, the director now owns 82,324 shares in the company, valued at approximately $9,402,224.04. The trade was a 23.29% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CRO Sean Michael Walters sold 8,454 shares of Datadog stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $102.04, for a total value of $862,646.16. Following the completion of the transaction, the executive now owns 185,871 shares in the company, valued at approximately $18,966,276.84. This represents a 4.35% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 559,867 shares of company stock worth $57,550,902 over the last 90 days. Corporate insiders own 11.78% of the company’s stock.

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.