Mitsubishi UFJ Asset Management Co. Ltd. Boosts Stake in Datadog, Inc. (NASDAQ:DDOG)

Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in Datadog, Inc. (NASDAQ:DDOG) by 0.1% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 224,735 shares of the company’s stock after acquiring an additional 219 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Datadog were worth $32,548,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Townsquare Capital LLC boosted its holdings in shares of Datadog by 50.5% in the 3rd quarter. Townsquare Capital LLC now owns 2,871 shares of the company’s stock worth $330,000 after purchasing an additional 963 shares in the last quarter. Freedom Investment Management Inc. bought a new position in Datadog during the third quarter valued at approximately $419,000. Glenmede Trust Co. NA raised its stake in shares of Datadog by 4,836.1% during the third quarter. Glenmede Trust Co. NA now owns 91,811 shares of the company’s stock worth $10,564,000 after acquiring an additional 89,951 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of Datadog in the 3rd quarter worth approximately $8,816,000. Finally, CreativeOne Wealth LLC purchased a new stake in shares of Datadog in the 3rd quarter valued at $302,000. Institutional investors own 78.29% of the company’s stock.

Datadog Stock Down 3.6 %

Shares of DDOG opened at $101.10 on Friday. The stock has a market cap of $34.65 billion, a P/E ratio of 198.24, a P/E/G ratio of 44.03 and a beta of 1.22. The business’s 50 day moving average price is $123.79 and its 200-day moving average price is $130.80. Datadog, Inc. has a 52 week low of $98.30 and a 52 week high of $170.08.

Datadog (NASDAQ:DDOG) last released its 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 return on equity of 8.28% and a net margin of 6.85%. On average, equities analysts anticipate that Datadog, Inc. will post 0.34 EPS for the current year.

Analysts Set New Price Targets

Several research firms have weighed in on DDOG. Rosenblatt Securities boosted their price target on shares of Datadog from $148.00 to $160.00 and gave the stock a “buy” rating in a research note on Wednesday, February 12th. JMP Securities restated a “market perform” rating on shares of Datadog in a report on Friday, February 14th. Needham & Company LLC reaffirmed a “buy” rating and issued a $160.00 price target on shares of Datadog in a research note on Tuesday, March 4th. Jefferies Financial Group increased their price objective on Datadog from $155.00 to $170.00 and gave the company a “buy” rating in a research note on Monday, January 6th. Finally, Wells Fargo & Company downgraded shares of Datadog from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $152.00 to $140.00 in a research note on Thursday, February 13th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, twenty-one have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $158.70.

Insiders Place Their Bets

In related news, CRO Sean Michael Walters sold 8,454 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the executive now owns 185,871 shares of the company’s stock, valued at $18,966,276.84. This trade represents a 4.35 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Alexis Le-Quoc sold 127,105 shares of the company’s stock in a transaction that occurred on Wednesday, January 8th. The shares were sold at an average price of $141.21, for a total value of $17,948,497.05. Following the completion of the transaction, the chief technology officer now directly owns 324,778 shares in the company, valued at $45,861,901.38. This trade represents a 28.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 601,412 shares of company stock valued at $75,444,584. Insiders own 11.78% of the company’s stock.

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.