Bridges Investment Management Inc. Takes Position in Datadog, Inc. (NASDAQ:DDOG)

Bridges Investment Management Inc. acquired a new stake in shares of Datadog, Inc. (NASDAQ:DDOG) during the fourth quarter, HoldingsChannel reports. The firm acquired 2,484 shares of the company’s stock, valued at approximately $355,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Baillie Gifford & Co. raised its stake in shares of Datadog by 15.8% during the fourth quarter. Baillie Gifford & Co. now owns 10,905,133 shares of the company’s stock valued at $1,558,234,000 after purchasing an additional 1,484,562 shares in the last quarter. Jennison Associates LLC raised its stake in shares of Datadog by 47.9% during the fourth 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 in the last quarter. Geode Capital Management LLC raised its stake in shares of Datadog by 2.5% during the third quarter. Geode Capital Management LLC now owns 5,185,557 shares of the company’s stock valued at $595,438,000 after purchasing an additional 125,457 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Datadog by 2.4% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,024,926 shares of the company’s stock valued at $232,988,000 after purchasing an additional 46,746 shares in the last quarter. Finally, Holocene Advisors LP raised its stake in shares of Datadog by 205.2% during the third quarter. Holocene Advisors LP now owns 1,632,870 shares of the company’s stock valued at $187,878,000 after purchasing an additional 1,097,815 shares in the last quarter. 78.29% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on DDOG. Stifel Nicolaus cut shares of Datadog from a “buy” rating to a “hold” rating and cut their price objective for the company from $165.00 to $140.00 in a research note on Wednesday, January 29th. Barclays dropped their price target on shares of Datadog from $187.00 to $180.00 and set an “overweight” rating on the stock in a research report on Friday, February 14th. Macquarie reiterated an “outperform” rating and issued a $200.00 price target on shares of Datadog in a research report on Tuesday, February 11th. Robert W. Baird boosted their price target on shares of Datadog from $140.00 to $150.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. Finally, Citigroup dropped their price target on shares of Datadog from $170.00 to $165.00 and set a “buy” rating on the stock in a research report on Friday, February 14th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, twenty-one have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $158.70.

Datadog Price Performance

NASDAQ:DDOG opened at $113.17 on Tuesday. Datadog, Inc. has a fifty-two week low of $98.80 and a fifty-two week high of $170.08. The stock’s 50-day moving average is $137.83 and its two-hundred day moving average is $131.97. The stock has a market cap of $38.45 billion, a PE ratio of 221.91, a price-to-earnings-growth ratio of 44.03 and a beta of 1.15.

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

Insider Activity at Datadog

In related news, CTO Alexis Le-Quoc sold 127,105 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the chief technology officer now 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 sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, General Counsel Kerry Acocella sold 2,488 shares of the business’s stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $158.04, for a total value of $393,203.52. Following the completion of the sale, the general counsel now directly owns 68,758 shares of the company’s stock, valued at approximately $10,866,514.32. The trade was a 3.49 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 556,674 shares of company stock valued at $82,904,025. 11.78% of the stock is owned by corporate insiders.

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.