Meiji Yasuda Asset Management Co Ltd. Has $843,000 Stock Position in Datadog, Inc. (NASDAQ:DDOG)

Meiji Yasuda Asset Management Co Ltd. lessened its holdings in shares of Datadog, Inc. (NASDAQ:DDOG) by 13.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 5,902 shares of the company’s stock after selling 950 shares during the quarter. Meiji Yasuda Asset Management Co Ltd.’s holdings in Datadog were worth $843,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Jennison Associates LLC boosted its holdings in shares of Datadog by 47.9% in the fourth quarter. Jennison Associates LLC now owns 9,278,648 shares of the company’s stock valued at $1,325,826,000 after buying an additional 3,005,300 shares during the period. Baillie Gifford & Co. lifted its position in Datadog by 15.8% in the 4th quarter. Baillie Gifford & Co. now owns 10,905,133 shares of the company’s stock valued at $1,558,234,000 after acquiring an additional 1,484,562 shares in the last quarter. William Blair Investment Management LLC acquired a new position in Datadog in the 4th quarter worth $173,163,000. Holocene Advisors LP increased its holdings in Datadog by 205.2% during the 3rd quarter. Holocene Advisors LP now owns 1,632,870 shares of the company’s stock worth $187,878,000 after purchasing an additional 1,097,815 shares in the last quarter. Finally, Vanguard Group Inc. raised its stake in shares of Datadog by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 30,354,229 shares of the company’s stock valued at $4,337,316,000 after purchasing an additional 220,527 shares during the period. 78.29% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Datadog news, 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 transaction of $862,646.16. Following the sale, 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CTO Alexis Le-Quoc sold 127,105 shares of the company’s stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $102.15, for a total transaction of $12,983,775.75. Following the transaction, the chief technology officer now owns 371,865 shares of the company’s stock, valued at $37,986,009.75. This trade represents a 25.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 601,412 shares of company stock valued at $75,444,584. 11.78% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on DDOG shares. Wells Fargo & Company cut Datadog from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $152.00 to $140.00 in a research report on Thursday, February 13th. Loop Capital raised their price target on shares of Datadog from $160.00 to $200.00 and gave the stock a “buy” rating in a research note on Monday, December 23rd. Cantor Fitzgerald started coverage on shares of Datadog in a research report on Friday, January 17th. They issued an “overweight” rating and a $180.00 price objective on the stock. Jefferies Financial Group increased their target price on shares of Datadog from $155.00 to $170.00 and gave the stock a “buy” rating in a report on Monday, January 6th. Finally, Truist Financial lowered their price target on shares of Datadog from $150.00 to $140.00 and set a “hold” rating on the stock in a research note on Friday, February 14th. One research 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 stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $158.70.

Datadog Price Performance

Shares of NASDAQ:DDOG opened at $104.85 on Friday. The company’s 50 day simple moving average is $124.54 and its 200 day simple moving average is $130.69. Datadog, Inc. has a 1 year low of $98.30 and a 1 year high of $170.08. The stock has a market capitalization 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.

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 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 anticipate that Datadog, Inc. will post 0.34 EPS for the current fiscal 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.