Assenagon Asset Management S.A. Decreases Stock Position in Datadog, Inc. (NASDAQ:DDOG)

Assenagon Asset Management S.A. decreased its holdings in shares of Datadog, Inc. (NASDAQ:DDOG) by 81.2% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 121,731 shares of the company’s stock after selling 525,178 shares during the period. Assenagon Asset Management S.A.’s holdings in Datadog were worth $14,776,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of DDOG. Vanguard Group Inc. raised its holdings in shares of Datadog by 4.7% in the third quarter. Vanguard Group Inc. now owns 26,524,875 shares of the company’s stock worth $2,416,151,000 after buying an additional 1,191,742 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in Datadog by 10.3% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 9,985,810 shares of the company’s stock worth $733,957,000 after acquiring an additional 929,566 shares during the period. WCM Investment Management LLC grew its stake in Datadog by 1.4% during the 3rd quarter. WCM Investment Management LLC now owns 6,292,305 shares of the company’s stock valued at $573,166,000 after purchasing an additional 88,132 shares during the last quarter. Sands Capital Management LLC lifted its holdings in shares of Datadog by 12.5% during the second quarter. Sands Capital Management LLC now owns 4,554,589 shares of the company’s stock worth $448,080,000 after purchasing an additional 505,196 shares during the period. Finally, Geode Capital Management LLC boosted its position in Datadog by 3.2% in the first quarter. Geode Capital Management LLC now owns 3,610,972 shares of the company’s stock valued at $262,001,000 after buying an additional 111,651 shares during the last quarter. Institutional investors and hedge funds own 78.29% of the company’s stock.

Analyst Ratings Changes

DDOG has been the subject of several recent research reports. William Blair reissued an “outperform” rating on shares of Datadog in a report on Friday, February 16th. Scotiabank began coverage on shares of Datadog in a research report on Tuesday, December 5th. They set a “sector outperform” rating and a $138.00 price target on the stock. Citigroup raised their target price on Datadog from $125.00 to $150.00 and gave the company a “buy” rating in a research report on Monday, January 22nd. Wolfe Research raised their price objective on Datadog from $140.00 to $150.00 and gave the company an “outperform” rating in a report on Wednesday, February 14th. Finally, Canaccord Genuity Group reissued a “buy” rating and issued a $150.00 price target on shares of Datadog in a research note on Friday, February 23rd. Seven analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company. Based on data from MarketBeat.com, Datadog has a consensus rating of “Moderate Buy” and an average target price of $128.18.

Insider Activity

In related news, CRO Sean Michael Walters sold 10,006 shares of the stock in a transaction that occurred on Wednesday, January 17th. The shares were sold at an average price of $125.00, for a total transaction of $1,250,750.00. Following the completion of the transaction, the executive now owns 146,439 shares of the company’s stock, valued at approximately $18,304,875. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CRO Sean Michael Walters sold 10,006 shares of the stock in a transaction dated Wednesday, January 17th. The stock was sold at an average price of $125.00, for a total transaction of $1,250,750.00. Following the transaction, the executive now owns 146,439 shares of the company’s stock, valued at approximately $18,304,875. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Olivier Pomel sold 85,637 shares of Datadog stock in a transaction dated Wednesday, January 3rd. The shares were sold at an average price of $112.26, for a total value of $9,613,609.62. Following the completion of the transaction, the chief executive officer now directly owns 299,075 shares of the company’s stock, valued at $33,574,159.50. The disclosure for this sale can be found here. In the last three months, insiders have sold 816,027 shares of company stock valued at $102,761,314. Company insiders own 14.97% of the company’s stock.

Datadog Stock Up 0.1 %

NASDAQ DDOG opened at $123.60 on Friday. The business’s fifty day simple moving average is $127.26 and its 200-day simple moving average is $112.11. The company has a quick ratio of 3.17, a current ratio of 3.17 and a debt-to-equity ratio of 0.37. The firm has a market cap of $41.02 billion, a PE ratio of 1,030.00 and a beta of 1.17. Datadog, Inc. has a 52 week low of $62.60 and a 52 week high of $138.61.

Datadog (NASDAQ:DDOG) last released its quarterly earnings data on Tuesday, February 13th. The company reported $0.44 EPS for the quarter, beating analysts’ consensus estimates of $0.43 by $0.01. The firm had revenue of $589.65 million for the quarter, compared to analysts’ expectations of $568.73 million. Datadog had a return on equity of 3.79% and a net margin of 2.28%. The firm’s quarterly revenue was up 25.6% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.08) earnings per share. As a group, equities analysts anticipate that Datadog, Inc. will post -0.14 earnings per share for the current year.

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.