DnB Asset Management AS Has $225.57 Million Stock Holdings in Datadog, Inc. (NASDAQ:DDOG)

DnB Asset Management AS lowered its stake in Datadog, Inc. (NASDAQ:DDOG) by 3.5% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 1,578,648 shares of the company’s stock after selling 57,226 shares during the period. Datadog accounts for about 1.0% of DnB Asset Management AS’s holdings, making the stock its 17th biggest holding. DnB Asset Management AS’s holdings in Datadog were worth $225,573,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the company. True Wealth Design LLC lifted its stake in Datadog by 12,000.0% in the 3rd quarter. True Wealth Design LLC now owns 242 shares of the company’s stock valued at $28,000 after purchasing an additional 240 shares during the last quarter. Retirement Wealth Solutions LLC acquired a new position in Datadog in the fourth quarter valued at about $30,000. Avior Wealth Management LLC increased its stake in shares of Datadog by 55.9% in the 4th quarter. Avior Wealth Management LLC now owns 226 shares of the company’s stock valued at $32,000 after purchasing an additional 81 shares during the last quarter. Quarry LP acquired a new stake in shares of Datadog in the 3rd quarter valued at approximately $33,000. Finally, Kieckhefer Group LLC bought a new position in Datadog in the fourth quarter valued at about $43,000. Institutional investors and hedge funds own 78.29% of the company’s stock.

Datadog Stock Performance

Shares of NASDAQ:DDOG opened at $104.85 on Friday. Datadog, Inc. has a fifty-two week low of $98.30 and a fifty-two week high of $170.08. The firm has a market cap of $35.94 billion, a price-to-earnings ratio of 205.59, a price-to-earnings-growth ratio of 44.03 and a beta of 1.22. The business has a 50-day simple moving average of $124.54 and a two-hundred day simple moving average of $130.69.

Datadog (NASDAQ:DDOG) last issued its quarterly 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 return on equity of 8.28% and a net margin of 6.85%. As a group, research analysts predict that Datadog, Inc. will post 0.34 earnings per share for the current year.

Insider Buying and Selling at Datadog

In other 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 transaction of $17,948,497.05. Following the transaction, 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 transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CRO Sean Michael Walters sold 8,454 shares of the business’s stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $102.04, for a total value of $862,646.16. Following the transaction, the executive now owns 185,871 shares of the company’s stock, valued at approximately $18,966,276.84. The trade was a 4.35 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 601,412 shares of company stock worth $75,444,584. Insiders own 11.78% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on DDOG. Jefferies Financial Group lifted their price objective on Datadog from $155.00 to $170.00 and gave the stock a “buy” rating in a research note on Monday, January 6th. Citigroup dropped their target price on Datadog from $170.00 to $165.00 and set a “buy” rating on the stock in a report on Friday, February 14th. Truist Financial decreased their price objective on shares of Datadog from $150.00 to $140.00 and set a “hold” rating for the company in a report on Friday, February 14th. Needham & Company LLC restated a “buy” rating and set a $160.00 price target on shares of Datadog in a research note on Tuesday, March 4th. Finally, Guggenheim reissued a “neutral” rating on shares of Datadog in a report on Wednesday, January 22nd. 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 assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $158.70.

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.