Nomura Asset Management Co. Ltd. Acquires 61,972 Shares of Datadog, Inc. (NASDAQ:DDOG)

Nomura Asset Management Co. Ltd. raised its stake in shares of Datadog, Inc. (NASDAQ:DDOG) by 50.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 185,280 shares of the company’s stock after buying an additional 61,972 shares during the quarter. Nomura Asset Management Co. Ltd.’s holdings in Datadog were worth $26,475,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Allworth Financial LP boosted its position in shares of Datadog by 7.7% during the fourth quarter. Allworth Financial LP now owns 1,043 shares of the company’s stock valued at $146,000 after buying an additional 75 shares during the period. Spire Wealth Management grew its position in Datadog by 21.4% in the 4th quarter. Spire Wealth Management now owns 453 shares of the company’s stock valued at $65,000 after acquiring an additional 80 shares during the last quarter. Avior Wealth Management LLC increased its stake in Datadog by 55.9% in the fourth quarter. Avior Wealth Management LLC now owns 226 shares of the company’s stock worth $32,000 after purchasing an additional 81 shares during the period. Farther Finance Advisors LLC boosted its stake in shares of Datadog by 5.2% during the fourth quarter. Farther Finance Advisors LLC now owns 1,853 shares of the company’s stock valued at $265,000 after purchasing an additional 92 shares during the period. Finally, Parkside Financial Bank & Trust grew its holdings in shares of Datadog by 16.5% in the fourth quarter. Parkside Financial Bank & Trust now owns 663 shares of the company’s stock worth $95,000 after purchasing an additional 94 shares during the last quarter. Institutional investors own 78.29% of the company’s stock.

Insider Buying and Selling

In other news, CRO Sean Michael Walters sold 8,454 shares of the firm’s stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $102.04, for a total value of $862,646.16. Following the completion of the transaction, the executive now directly owns 185,871 shares in the company, valued at $18,966,276.84. This trade represents a 4.35 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CTO Alexis Le-Quoc sold 127,105 shares of the company’s stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $102.15, for a total value of $12,983,775.75. Following the completion of the sale, the chief technology officer now owns 371,865 shares in the company, valued at approximately $37,986,009.75. This represents a 25.47 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 601,412 shares of company stock worth $75,444,584 in the last 90 days. Insiders own 11.78% of the company’s stock.

Datadog Stock Performance

Shares of DDOG stock opened at $101.10 on Friday. Datadog, Inc. has a fifty-two week low of $98.30 and a fifty-two week high of $170.08. The firm has a market capitalization of $34.65 billion, a price-to-earnings ratio of 198.24, a PEG ratio of 44.03 and a beta of 1.22. The stock’s 50-day simple moving average is $123.79 and its 200-day simple moving average is $130.80.

Datadog (NASDAQ:DDOG) last issued its quarterly earnings results on Thursday, February 13th. The company reported $0.13 earnings per share (EPS) 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, equities analysts forecast that Datadog, Inc. will post 0.34 earnings per share for the current year.

Analysts Set New Price Targets

DDOG has been the subject of several research reports. Morgan Stanley reissued an “equal weight” rating and issued a $143.00 price objective on shares of Datadog in a research report on Thursday, January 16th. Macquarie reissued an “outperform” rating and issued a $200.00 price objective on shares of Datadog in a research note on Tuesday, February 11th. Citigroup reduced their price objective on Datadog from $170.00 to $165.00 and set a “buy” rating on the stock in a report on Friday, February 14th. Barclays lowered their target price on Datadog from $187.00 to $180.00 and set an “overweight” rating for the company in a report on Friday, February 14th. Finally, Mizuho lifted their price objective on Datadog from $155.00 to $170.00 and gave the company an “outperform” rating in a report on Friday, December 13th. One analyst has rated the stock with a sell rating, seven have given a hold rating, twenty-one have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Datadog presently has an average rating of “Moderate Buy” and a consensus price target of $158.70.

Datadog 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.