Datadog, Inc. (NASDAQ:DDOG) Shares Purchased by Mitsubishi UFJ Trust & Banking Corp

Mitsubishi UFJ Trust & Banking Corp boosted its stake in Datadog, Inc. (NASDAQ:DDOG) by 7.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 475,391 shares of the company’s stock after buying an additional 33,264 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp owned approximately 0.14% of Datadog worth $67,929,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Retirement Wealth Solutions LLC acquired a new stake in shares of Datadog in the fourth quarter worth approximately $30,000. Avior Wealth Management LLC lifted its holdings in Datadog by 55.9% in the 4th quarter. Avior Wealth Management LLC now owns 226 shares of the company’s stock valued at $32,000 after purchasing an additional 81 shares in the last quarter. True Wealth Design LLC grew its holdings in shares of Datadog by 12,000.0% during the third quarter. True Wealth Design LLC now owns 242 shares of the company’s stock worth $28,000 after buying an additional 240 shares in the last quarter. Quarry LP acquired a new stake in shares of Datadog in the third quarter valued at about $33,000. Finally, Kieckhefer Group LLC acquired a new stake in shares of Datadog in the fourth quarter valued at about $43,000. 78.29% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CEO Olivier Pomel sold 11,195 shares of the firm’s stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $139.86, for a total transaction of $1,565,732.70. Following the transaction, the chief executive officer now owns 379,693 shares in the company, valued at $53,103,862.98. This trade represents a 2.86 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CTO Alexis Le-Quoc sold 127,105 shares of the business’s stock in a transaction that occurred on 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 completion of the sale, the chief technology officer now owns 324,778 shares of the company’s stock, valued at approximately $45,861,901.38. This represents a 28.13 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 626,412 shares of company stock valued at $79,144,334. 11.78% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of analysts have commented on DDOG shares. Jefferies Financial Group increased their price objective on shares of Datadog from $155.00 to $170.00 and gave the company a “buy” rating in a report on Monday, January 6th. Rosenblatt Securities increased their price target on Datadog from $148.00 to $160.00 and gave the company a “buy” rating in a report on Wednesday, February 12th. Stifel Nicolaus lowered Datadog from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $165.00 to $140.00 in a research note on Wednesday, January 29th. Morgan Stanley reissued an “equal weight” rating and issued a $143.00 price target on shares of Datadog in a research note on Thursday, January 16th. Finally, Needham & Company LLC reissued a “buy” rating and set a $160.00 target price on shares of Datadog in a research note on Tuesday, March 4th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, twenty-one have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, Datadog currently has a consensus rating of “Moderate Buy” and a consensus price target of $158.70.

Datadog Stock Performance

DDOG opened at $110.58 on Wednesday. The business’s 50-day simple moving average is $125.84 and its 200-day simple moving average is $131.03. The company has a market cap of $37.90 billion, a P/E ratio of 216.83, a PEG ratio of 44.03 and a beta of 1.22. Datadog, Inc. has a one year low of $98.30 and a one year high of $170.08.

Datadog (NASDAQ:DDOG) last issued its quarterly earnings data on Thursday, February 13th. The company reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.44 by ($0.31). Datadog had a return on equity of 8.28% and a net margin of 6.85%. As a group, analysts predict that Datadog, Inc. will post 0.34 earnings per share for the current fiscal year.

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.