Strategy Capital LLC Grows Stake in Datadog, Inc. (NASDAQ:DDOG)

Strategy Capital LLC increased its holdings in Datadog, Inc. (NASDAQ:DDOG) by 240.6% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 815,345 shares of the company’s stock after purchasing an additional 575,990 shares during the quarter. Datadog comprises about 9.5% of Strategy Capital LLC’s portfolio, making the stock its 6th biggest holding. Strategy Capital LLC’s holdings in Datadog were worth $116,505,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in shares of Datadog by 0.7% in the fourth 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 in the last quarter. Baillie Gifford & Co. grew its position in Datadog by 15.8% in the 4th 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 in the last quarter. Jennison Associates LLC increased its stake in Datadog by 47.9% during the 4th quarter. Jennison Associates LLC now owns 9,278,648 shares of the company’s stock valued at $1,325,826,000 after buying an additional 3,005,300 shares during the period. Groupama Asset Managment raised its position in shares of Datadog by 407.6% during the 4th 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 in the last quarter. Finally, Geode Capital Management LLC lifted its stake in shares of Datadog by 9.6% in the 4th quarter. Geode Capital Management LLC now owns 5,684,612 shares of the company’s stock worth $811,076,000 after acquiring an additional 499,055 shares during the period. 78.29% of the stock is currently owned by institutional investors and hedge funds.

Datadog Stock Performance

Shares of NASDAQ DDOG traded down $2.78 during mid-day trading on Thursday, reaching $94.66. The company had a trading volume of 1,187,251 shares, compared to its average volume of 4,295,255. The company has a market capitalization of $32.45 billion, a price-to-earnings ratio of 185.61, a PEG ratio of 44.03 and a beta of 1.20. The stock has a fifty day moving average of $114.16 and a two-hundred day moving average of $129.41. Datadog, Inc. has a 12-month low of $81.63 and a 12-month high of $170.08.

Datadog (NASDAQ:DDOG) last released its earnings results on Thursday, February 13th. The company reported $0.13 earnings per share (EPS) 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%. Sell-side analysts forecast that Datadog, Inc. will post 0.34 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Shardul Shah sold 7,916 shares of Datadog stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $142.12, for a total transaction of $1,125,021.92. Following the completion of the sale, the director now directly owns 427,785 shares in the company, valued at $60,796,804.20. The trade was a 1.82 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO Alexis Le-Quoc sold 127,105 shares of the business’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $142.78, for a total value of $18,148,051.90. Following the completion of the sale, the chief technology officer now directly owns 324,778 shares of the company’s stock, valued at approximately $46,371,802.84. The trade was a 28.13 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 556,672 shares of company stock worth $63,344,272. Corporate insiders own 11.78% of the company’s stock.

Analysts Set New Price Targets

DDOG has been the topic of a number of research analyst reports. Wells Fargo & Company lowered shares of Datadog from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $152.00 to $140.00 in a research note on Thursday, February 13th. Jefferies Financial Group reiterated a “buy” rating and set a $135.00 price target (down from $150.00) on shares of Datadog in a research report on Monday. Loop Capital upped their price objective on Datadog from $160.00 to $200.00 and gave the company a “buy” rating in a report on Monday, December 23rd. Truist Financial decreased their target price on Datadog from $140.00 to $120.00 and set a “hold” rating for the company in a research note on Monday, March 31st. Finally, Rosenblatt Securities boosted their price target on shares of Datadog from $148.00 to $160.00 and gave the stock a “buy” rating in a research report on Wednesday, February 12th. One equities research 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 issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $156.67.

About Datadog

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.