ARK Investment Management LLC Has $18.19 Million Stake in Datadog, Inc. (NASDAQ:DDOG)

ARK Investment Management LLC grew its holdings in shares of Datadog, Inc. (NASDAQ:DDOG) by 62.7% in the 4th quarter, Holdings Channel reports. The fund owned 127,290 shares of the company’s stock after buying an additional 49,050 shares during the period. ARK Investment Management LLC’s holdings in Datadog were worth $18,188,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the business. Allworth Financial LP raised its stake in Datadog by 7.7% during the fourth quarter. Allworth Financial LP now owns 1,043 shares of the company’s stock worth $146,000 after acquiring an additional 75 shares in the last quarter. Spire Wealth Management raised its stake in Datadog by 21.4% during the fourth quarter. Spire Wealth Management now owns 453 shares of the company’s stock worth $65,000 after acquiring an additional 80 shares in the last quarter. Avior Wealth Management LLC raised its stake in Datadog by 55.9% during the fourth quarter. Avior Wealth Management LLC now owns 226 shares of the company’s stock worth $32,000 after acquiring an additional 81 shares in the last quarter. Pathstone Holdings LLC increased its stake in shares of Datadog by 0.4% in the third quarter. Pathstone Holdings LLC now owns 23,152 shares of the company’s stock valued at $2,664,000 after buying an additional 91 shares during the period. Finally, Parsons Capital Management Inc. RI increased its stake in shares of Datadog by 2.0% in the fourth quarter. Parsons Capital Management Inc. RI now owns 4,943 shares of the company’s stock valued at $706,000 after buying an additional 96 shares during the period. Institutional investors and hedge funds own 78.29% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on DDOG. Stifel Nicolaus downgraded Datadog from a “buy” rating to a “hold” rating and lowered their price objective for the company from $165.00 to $140.00 in a research note on Wednesday, January 29th. Wells Fargo & Company downgraded 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. Citigroup lowered their price objective on Datadog from $170.00 to $165.00 and set a “buy” rating for the company in a research note on Friday, February 14th. Truist Financial lowered their price objective on Datadog from $150.00 to $140.00 and set a “hold” rating for the company in a research note on Friday, February 14th. Finally, Guggenheim reaffirmed a “neutral” rating on shares of Datadog in a research note on Wednesday, January 22nd. One 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 given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $158.70.

Datadog Price Performance

Shares of Datadog stock opened at $114.98 on Wednesday. Datadog, Inc. has a 1 year low of $98.80 and a 1 year high of $170.08. The firm has a market cap of $39.06 billion, a PE ratio of 225.46, a P/E/G ratio of 44.03 and a beta of 1.15. The stock has a fifty day moving average price of $140.58 and a 200-day moving average price of $131.97.

Datadog (NASDAQ:DDOG) last posted its quarterly earnings results 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, equities analysts anticipate that Datadog, Inc. will post 0.34 EPS for the current fiscal year.

Insiders Place Their Bets

In other Datadog news, CEO Olivier Pomel sold 11,195 shares of the firm’s stock in a transaction dated Monday, January 27th. The stock was sold at an average price of $139.86, for a total value of $1,565,732.70. Following the completion of 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Amit Agarwal sold 25,000 shares of Datadog stock in a transaction dated Wednesday, January 22nd. The shares were sold at an average price of $139.47, for a total value of $3,486,750.00. Following the sale, the director now owns 195,667 shares of the company’s stock, valued at approximately $27,289,676.49. This trade represents a 11.33 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 556,674 shares of company stock worth $82,904,025 in the last quarter. 11.78% of the stock is owned by company 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.