Van ECK Associates Corp Invests $182,000 in Datadog, Inc. (NASDAQ:DDOG)

Van ECK Associates Corp bought a new position in shares of Datadog, Inc. (NASDAQ:DDOG) during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 1,271 shares of the company’s stock, valued at approximately $182,000.

Several other hedge funds also recently made changes to their positions in the business. Jennison Associates LLC increased its holdings 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 worth $1,325,826,000 after purchasing an additional 3,005,300 shares during the period. Geode Capital Management LLC increased its stake in Datadog by 2.5% in the third quarter. Geode Capital Management LLC now owns 5,185,557 shares of the company’s stock valued at $595,438,000 after acquiring an additional 125,457 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Datadog by 2.4% in 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 acquiring an additional 46,746 shares during the last quarter. Holocene Advisors LP increased its stake in Datadog by 205.2% in the third quarter. Holocene Advisors LP now owns 1,632,870 shares of the company’s stock valued at $187,878,000 after acquiring an additional 1,097,815 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in Datadog by 2.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,176,577 shares of the company’s stock valued at $135,377,000 after acquiring an additional 29,404 shares during the last quarter. 78.29% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages recently issued reports on DDOG. Royal Bank of Canada lifted their price objective on shares of Datadog from $151.00 to $170.00 and gave the company an “outperform” rating in a research note on Friday, January 3rd. BMO Capital Markets lifted their price objective on shares of Datadog from $135.00 to $145.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. TD Cowen reissued a “buy” rating and issued a $165.00 price objective on shares of Datadog in a research note on Tuesday, November 19th. Macquarie reissued an “outperform” rating and issued a $200.00 price objective on shares of Datadog in a research note on Tuesday, February 11th. Finally, JMP Securities reaffirmed a “market perform” rating on shares of Datadog in a research note on Friday, February 14th. One analyst has rated the stock with a sell rating, seven have given a hold rating, twenty-one have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $158.70.

Insiders Place Their Bets

In related news, CEO Olivier Pomel sold 178,723 shares of the business’s stock in a transaction dated 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 sale, the chief executive officer now directly owns 379,693 shares in the company, valued at approximately $61,236,887.04. The trade was a 32.01 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel Kerry Acocella sold 2,488 shares of the business’s stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $158.04, for a total transaction of $393,203.52. Following the completion of the sale, the general counsel now owns 68,758 shares in the company, valued at approximately $10,866,514.32. This trade represents a 3.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 556,674 shares of company stock valued at $82,904,025 in the last 90 days. 11.78% of the stock is owned by insiders.

Datadog Trading Down 5.2 %

DDOG opened at $119.67 on Monday. Datadog, Inc. has a 12-month low of $98.80 and a 12-month high of $170.08. The firm has a market capitalization of $40.66 billion, a PE ratio of 234.66, a P/E/G ratio of 44.03 and a beta of 1.15. The firm has a 50 day moving average of $142.18 and a two-hundred day moving average of $131.92.

Datadog (NASDAQ:DDOG) last posted its earnings results on Thursday, February 13th. The company reported $0.13 earnings per share 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%. As a group, analysts predict that Datadog, Inc. will post 0.34 EPS for the current fiscal year.

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.