Tidal Investments LLC Purchases 29,158 Shares of Datadog, Inc. (NASDAQ:DDOG)

Tidal Investments LLC boosted its position in shares of Datadog, Inc. (NASDAQ:DDOG) by 103.1% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 57,453 shares of the company’s stock after buying an additional 29,158 shares during the quarter. Tidal Investments LLC’s holdings in Datadog were worth $8,209,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in Datadog by 0.7% during 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 last quarter. Baillie Gifford & Co. raised its holdings in 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 buying an additional 1,484,562 shares during the last quarter. Jennison Associates LLC raised its holdings 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 last quarter. Groupama Asset Managment raised its holdings in Datadog by 407.6% during the 4th quarter. Groupama Asset Managment now owns 6,600,000 shares of the company’s stock valued at $943,074,000 after buying an additional 5,299,688 shares during the last quarter. Finally, Geode Capital Management LLC raised 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 buying an additional 499,055 shares during the last quarter. 78.29% of the stock is currently owned by institutional investors.

Insider Transactions at Datadog

In other news, CEO Olivier Pomel sold 107,365 shares of the stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $109.56, for a total value of $11,762,909.40. Following the transaction, the chief executive officer now owns 435,793 shares in the company, valued at $47,745,481.08. This represents a 19.77% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CRO Sean Michael Walters sold 8,454 shares of the stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $102.04, for a total transaction of $862,646.16. Following the completion of the transaction, the executive now owns 185,871 shares in the company, valued at $18,966,276.84. This trade represents a 4.35% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 584,867 shares of company stock worth $60,517,652 in the last quarter. Company insiders own 11.78% of the company’s stock.

Analyst Ratings Changes

Several research analysts have commented on DDOG shares. Citigroup decreased their price objective on shares of Datadog from $170.00 to $165.00 and set a “buy” rating for the company in a report on Friday, February 14th. Wells Fargo & Company decreased their price objective on shares of Datadog from $140.00 to $115.00 and set an “equal weight” rating for the company in a report on Wednesday, May 7th. Wedbush decreased their price objective on shares of Datadog from $155.00 to $140.00 and set an “outperform” rating for the company in a report on Wednesday, May 7th. JMP Securities restated a “market perform” rating on shares of Datadog in a report on Friday, February 14th. Finally, Barclays upped their price objective on shares of Datadog from $125.00 to $128.00 and gave the stock an “overweight” rating in a report on Tuesday, May 6th. Seven investment analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $141.54.

Datadog Stock Down 1.0%

Shares of NASDAQ:DDOG opened at $116.46 on Tuesday. The firm’s 50 day moving average price is $101.39 and its 200-day moving average price is $125.45. Datadog, Inc. has a twelve month low of $81.63 and a twelve month high of $170.08. The stock has a market capitalization of $40.22 billion, a PE ratio of 228.36, a price-to-earnings-growth ratio of 44.03 and a beta of 1.12.

Datadog (NASDAQ:DDOG) last issued its quarterly earnings data on Tuesday, May 6th. The company reported $0.46 earnings per share for the quarter, topping the consensus estimate of $0.42 by $0.04. Datadog had a net margin of 6.85% and a return on equity of 8.28%. The firm had revenue of $761.55 million for the quarter, compared to analysts’ expectations of $741.73 million. During the same quarter in the prior year, the business earned $0.44 EPS. The business’s quarterly revenue was up 24.6% on a year-over-year basis. Analysts expect 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.