National Pension Service Cuts Stock Holdings in Datadog, Inc. (NASDAQ:DDOG)

National Pension Service decreased its holdings in shares of Datadog, Inc. (NASDAQ:DDOG) by 4.5% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 412,978 shares of the company’s stock after selling 19,472 shares during the period. National Pension Service owned 0.12% of Datadog worth $59,010,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in DDOG. Jennison Associates LLC increased its position in Datadog by 47.9% during the 4th quarter. Jennison Associates LLC now owns 9,278,648 shares of the company’s stock valued at $1,325,826,000 after purchasing an additional 3,005,300 shares during the period. Baillie Gifford & Co. grew its position in shares of Datadog by 15.8% in 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 during the last quarter. Holocene Advisors LP grew its position in shares of Datadog by 205.2% in the 3rd quarter. Holocene Advisors LP now owns 1,632,870 shares of the company’s stock worth $187,878,000 after buying an additional 1,097,815 shares during the last quarter. Champlain Investment Partners LLC purchased a new position in shares of Datadog in the 3rd quarter worth approximately $52,561,000. Finally, Eagle Asset Management Inc. grew its position in shares of Datadog by 72.4% in the 3rd quarter. Eagle Asset Management Inc. now owns 914,776 shares of the company’s stock worth $113,844,000 after buying an additional 384,121 shares during the last quarter. Hedge funds and other institutional investors own 78.29% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. Cantor Fitzgerald assumed coverage on shares of Datadog in a research report on Friday, January 17th. They issued an “overweight” rating and a $180.00 price objective on the stock. DA Davidson lifted their price objective on shares of Datadog from $150.00 to $165.00 and gave the stock a “buy” rating in a research report on Monday, February 10th. Monness Crespi & Hardt raised shares of Datadog from a “neutral” rating to a “buy” rating and set a $155.00 price objective on the stock in a research report on Thursday, November 7th. Macquarie reaffirmed an “outperform” rating and issued a $200.00 price objective on shares of Datadog in a research report on Tuesday, February 11th. Finally, Stifel Nicolaus downgraded shares of Datadog from a “buy” rating to a “hold” rating and cut their price objective for the stock from $165.00 to $140.00 in a research report on Wednesday, January 29th. 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 issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $158.70.

Datadog Price Performance

DDOG opened at $113.53 on Friday. The firm has a fifty day moving average price of $139.17 and a 200 day moving average price of $131.71. Datadog, Inc. has a 1 year low of $98.80 and a 1 year high of $170.08. The stock has a market cap of $38.57 billion, a P/E ratio of 222.61, a P/E/G ratio of 44.03 and a beta of 1.15.

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

Insider Activity at Datadog

In related news, CEO Olivier Pomel sold 178,723 shares of the business’s stock in a transaction on Monday, December 9th. The shares were sold at an average price of $161.28, for a total value of $28,824,445.44. Following the completion of the sale, the chief executive officer now owns 379,693 shares of the company’s stock, valued at approximately $61,236,887.04. The trade was a 32.01 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CTO Alexis Le-Quoc sold 127,105 shares of the business’s stock in a transaction on Wednesday, January 8th. The stock was sold at an average price of $141.21, for a total transaction of $17,948,497.05. Following the completion of the sale, the chief technology officer now directly owns 324,778 shares of the company’s stock, valued at approximately $45,861,901.38. The trade was a 28.13 % 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 three months. Company insiders own 11.78% of the company’s stock.

Datadog Company 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.