OFI Invest Asset Management Makes New $16.50 Million Investment in Datadog, Inc. (NASDAQ:DDOG)

OFI Invest Asset Management bought a new stake in Datadog, Inc. (NASDAQ:DDOG) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 119,549 shares of the company’s stock, valued at approximately $16,497,000.

A number of other hedge funds have also recently made changes to their positions in the company. Capital Performance Advisors LLP bought a new stake in shares of Datadog in the third quarter worth $55,000. Fiera Capital Corp grew its position in shares of Datadog by 9.6% in the 3rd quarter. Fiera Capital Corp now owns 62,727 shares of the company’s stock valued at $7,217,000 after buying an additional 5,488 shares during the last quarter. Klingman & Associates LLC increased its stake in shares of Datadog by 8.3% in the third quarter. Klingman & Associates LLC now owns 164,104 shares of the company’s stock valued at $18,882,000 after buying an additional 12,590 shares during the period. Atria Investments Inc raised its position in shares of Datadog by 9.5% during the third quarter. Atria Investments Inc now owns 4,802 shares of the company’s stock worth $553,000 after acquiring an additional 416 shares during the last quarter. Finally, Covestor Ltd lifted its stake in shares of Datadog by 14.1% in the third quarter. Covestor Ltd now owns 1,091 shares of the company’s stock worth $126,000 after acquiring an additional 135 shares during the period. 78.29% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Datadog news, CEO Olivier Pomel sold 178,723 shares of the company’s stock in a transaction on Monday, December 9th. The stock was sold at an average price of $161.28, for a total value of $28,824,445.44. Following the completion of the transaction, the chief executive officer now owns 379,693 shares in the company, valued at $61,236,887.04. This represents a 32.01 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO Alexis Le-Quoc sold 127,105 shares of Datadog stock in a transaction on Wednesday, January 8th. The stock was sold at an average price of $141.21, for a total value of $17,948,497.05. Following the sale, the chief technology officer now owns 324,778 shares in the company, valued at $45,861,901.38. The trade was a 28.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 589,353 shares of company stock valued at $86,544,020 over the last three months. Corporate insiders own 11.78% of the company’s stock.

Analyst Ratings Changes

Several research analysts have issued reports on DDOG shares. Citigroup lowered their price target 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 downgraded shares of Datadog from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $152.00 to $140.00 in a research note on Thursday, February 13th. TD Cowen restated a “buy” rating and issued a $165.00 target price on shares of Datadog in a report on Tuesday, November 19th. Macquarie reiterated an “outperform” rating and set a $200.00 price target on shares of Datadog in a report on Tuesday, February 11th. Finally, Mizuho boosted their price objective on Datadog from $155.00 to $170.00 and gave the company an “outperform” rating in a research note on Friday, December 13th. One investment 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 assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $158.70.

Datadog Trading Down 1.6 %

NASDAQ DDOG opened at $109.63 on Friday. The firm has a market capitalization of $37.58 billion, a P/E ratio of 214.96, a PEG ratio of 44.03 and a beta of 1.22. The business has a fifty day simple moving average of $135.05 and a 200 day simple moving average of $131.76. Datadog, Inc. has a 12 month low of $98.80 and a 12 month high of $170.08.

Datadog (NASDAQ:DDOG) last released its quarterly earnings results on Thursday, February 13th. The company reported $0.13 earnings per share for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.31). Datadog had a net margin of 6.85% and a return on equity of 8.28%. As a group, sell-side analysts predict that Datadog, Inc. will post 0.34 EPS 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.