Emerald Advisers LLC Raises Stock Holdings in Datadog, Inc. (NASDAQ:DDOG)

Emerald Advisers LLC increased its stake in shares of Datadog, Inc. (NASDAQ:DDOG) by 138.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,203 shares of the company’s stock after purchasing an additional 5,338 shares during the quarter. Emerald Advisers LLC’s holdings in Datadog were worth $1,315,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in Datadog by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 30,354,229 shares of the company’s stock worth $4,337,316,000 after acquiring an additional 220,527 shares in the last quarter. LPL Financial LLC boosted its holdings in Datadog by 34.4% in the fourth quarter. LPL Financial LLC now owns 152,243 shares of the company’s stock worth $21,754,000 after acquiring an additional 38,937 shares in the last quarter. Fortis Capital Management LLC acquired a new stake in Datadog in the fourth quarter worth about $208,000. KLP Kapitalforvaltning AS acquired a new stake in Datadog in the fourth quarter worth about $13,217,000. Finally, Knights of Columbus Asset Advisors LLC acquired a new stake in Datadog in the fourth quarter worth about $821,000. 78.29% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have weighed in on DDOG. Barclays lowered their price target on Datadog from $187.00 to $180.00 and set an “overweight” rating for the company in a report on Friday, February 14th. Rosenblatt Securities lifted their target price on Datadog from $148.00 to $160.00 and gave the stock a “buy” rating in a report on Wednesday, February 12th. Jefferies Financial Group lifted their target price on Datadog from $155.00 to $170.00 and gave the stock a “buy” rating in a report on Monday, January 6th. Truist Financial decreased their target price on Datadog from $150.00 to $140.00 and set a “hold” rating for the company in a report on Friday, February 14th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $160.00 target price on shares of Datadog in a report on Tuesday, March 4th. One investment 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 company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $158.70.

Datadog Price Performance

Shares of NASDAQ:DDOG opened at $105.03 on Monday. The business’s 50 day moving average price is $126.97 and its 200-day moving average price is $131.01. The firm has a market capitalization of $36.00 billion, a PE ratio of 205.95, a P/E/G ratio of 44.03 and a beta of 1.22. Datadog, Inc. has a 1 year low of $98.30 and a 1 year high of $170.08.

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 return on equity of 8.28% and a net margin of 6.85%. As a group, analysts expect that Datadog, Inc. will post 0.34 earnings per share for the current year.

Insider Transactions at Datadog

In other Datadog news, Director Shardul Shah sold 7,916 shares of the business’s stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $142.12, for a total transaction of $1,125,021.92. Following the transaction, the director now owns 427,785 shares of the company’s stock, valued at approximately $60,796,804.20. The trade was a 1.82 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 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 value of $17,948,497.05. Following the transaction, the chief technology officer now directly owns 324,778 shares in the company, valued at $45,861,901.38. This trade represents a 28.13 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 626,412 shares of company stock valued at $79,144,334 over the last ninety days. Insiders own 11.78% of the company’s stock.

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.