Worldquant Millennium Advisors LLC Makes New $21.57 Million Investment in Datadog, Inc. (NASDAQ:DDOG)

Worldquant Millennium Advisors LLC bought a new position in shares of Datadog, Inc. (NASDAQ:DDOG) in the fourth quarter, HoldingsChannel reports. The firm bought 150,984 shares of the company’s stock, valued at approximately $21,574,000.

Other large investors have also modified their holdings of the company. Proficio Capital Partners LLC purchased a new position in shares of Datadog during the 4th quarter worth approximately $14,884,000. ARK Investment Management LLC raised its stake 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 worth $18,188,000 after buying an additional 49,050 shares in the last quarter. Y Intercept Hong Kong Ltd raised its stake 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 worth $7,590,000 after buying an additional 30,998 shares in the last quarter. Baillie Gifford & Co. raised its stake 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 worth $1,558,234,000 after buying an additional 1,484,562 shares in the last quarter. Finally, Cullen Frost Bankers Inc. raised its stake in shares of Datadog by 3.5% during the 4th quarter. Cullen Frost Bankers Inc. now owns 72,489 shares of the company’s stock worth $10,358,000 after buying an additional 2,451 shares in the last quarter. 78.29% of the stock is owned by hedge funds and other institutional investors.

Datadog Stock Performance

Shares of NASDAQ:DDOG opened at $116.29 on Wednesday. The business’s fifty day moving average price is $101.74 and its two-hundred day moving average price is $125.39. The stock has a market cap of $40.16 billion, a PE ratio of 228.02, a price-to-earnings-growth ratio of 44.03 and a beta of 1.12. Datadog, Inc. has a one year low of $81.63 and a one year high of $170.08.

Datadog (NASDAQ:DDOG) last posted its quarterly earnings data on Tuesday, May 6th. The company reported $0.46 earnings per share (EPS) for the quarter, topping the consensus estimate 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 analysts’ expectations of $741.73 million. During the same quarter last year, the firm earned $0.44 earnings per share. The business’s revenue was up 24.6% on a year-over-year basis. As a group, equities research analysts predict that Datadog, Inc. will post 0.34 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on DDOG shares. Cantor Fitzgerald reissued an “overweight” rating and set a $134.00 target price on shares of Datadog in a research note on Wednesday, May 7th. Stifel Nicolaus set a $120.00 price target on Datadog in a report on Tuesday, May 6th. BTIG Research set a $136.00 price target on Datadog and gave the stock a “buy” rating in a report on Tuesday, May 6th. Needham & Company LLC lowered their price target on Datadog from $160.00 to $130.00 and set a “buy” rating on the stock in a report on Wednesday, May 7th. Finally, Macquarie lowered their price target on Datadog from $175.00 to $140.00 and set an “outperform” rating on the stock in a report on Wednesday, May 7th. Seven investment analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $141.54.

Insider Transactions at Datadog

In other news, Director Amit Agarwal sold 25,000 shares of the firm’s stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $114.21, for a total transaction of $2,855,250.00. Following the sale, the director now owns 82,324 shares in the company, valued at $9,402,224.04. This trade represents a 23.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CTO Alexis Le-Quoc sold 127,105 shares of the stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $102.15, for a total value of $12,983,775.75. Following the completion of the transaction, the chief technology officer now directly owns 371,865 shares in the company, valued at $37,986,009.75. This trade represents a 25.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 584,867 shares of company stock worth $60,517,652 over the last quarter. 11.78% of the stock is currently owned by insiders.

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.