Victory Capital Management Inc. Increases Holdings in Datadog, Inc. (NASDAQ:DDOG)

Victory Capital Management Inc. raised its stake in shares of Datadog, Inc. (NASDAQ:DDOG) by 0.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 256,264 shares of the company’s stock after buying an additional 213 shares during the quarter. Victory Capital Management Inc.’s holdings in Datadog were worth $36,618,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the stock. Allworth Financial LP grew its holdings in shares of Datadog by 7.7% in the fourth quarter. Allworth Financial LP now owns 1,043 shares of the company’s stock worth $146,000 after acquiring an additional 75 shares during the period. Spire Wealth Management grew its holdings in Datadog by 21.4% during the fourth quarter. Spire Wealth Management now owns 453 shares of the company’s stock valued at $65,000 after purchasing an additional 80 shares during the period. Avior Wealth Management LLC grew its holdings in Datadog by 55.9% during the fourth 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 period. Pathstone Holdings LLC grew its holdings in Datadog by 0.4% during the third quarter. Pathstone Holdings LLC now owns 23,152 shares of the company’s stock valued at $2,664,000 after purchasing an additional 91 shares during the period. Finally, Parkside Financial Bank & Trust grew its holdings in Datadog by 16.5% during the fourth quarter. Parkside Financial Bank & Trust now owns 663 shares of the company’s stock valued at $95,000 after purchasing an additional 94 shares during the period. Hedge funds and other institutional investors own 78.29% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on DDOG shares. Mizuho boosted their price target on Datadog from $155.00 to $170.00 and gave the company an “outperform” rating in a report on Friday, December 13th. Rosenblatt Securities boosted their price target on Datadog from $148.00 to $160.00 and gave the company a “buy” rating in a report on Wednesday, February 12th. Citigroup lowered their price objective on Datadog from $170.00 to $165.00 and set a “buy” rating on the stock in a research report on Friday, February 14th. JMP Securities restated a “market perform” rating on shares of Datadog in a research report on Friday, February 14th. Finally, Cantor Fitzgerald initiated coverage on Datadog in a research report on Friday, January 17th. They issued an “overweight” rating and a $180.00 price objective on the stock. One 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 data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $158.70.

Insiders Place Their Bets

In other Datadog news, Director Shardul Shah sold 7,916 shares of Datadog stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $155.25, for a total transaction of $1,228,959.00. Following the completion of the sale, the director now owns 435,701 shares of the company’s stock, valued at approximately $67,642,580.25. The trade was a 1.78 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CTO Alexis Le-Quoc sold 127,105 shares of Datadog stock in a transaction dated Wednesday, January 8th. The stock was sold at an average price of $141.21, for a total value of $17,948,497.05. Following the sale, the chief technology officer now directly owns 324,778 shares of the company’s stock, valued at approximately $45,861,901.38. This represents a 28.13 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 410,630 shares of company stock valued at $57,719,574. 11.78% of the stock is owned by company insiders.

Datadog Price Performance

Datadog stock opened at $109.63 on Monday. The stock has a market capitalization of $37.58 billion, a price-to-earnings ratio of 214.96, a PEG ratio of 44.03 and a beta of 1.22. Datadog, Inc. has a 1-year low of $98.80 and a 1-year high of $170.08. The business has a fifty day moving average price of $135.05 and a 200-day moving average price of $131.86.

Datadog (NASDAQ:DDOG) last posted its quarterly earnings data on Thursday, February 13th. The company reported $0.13 earnings per share for the quarter, missing analysts’ consensus estimates 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 research analysts anticipate that Datadog, Inc. will post 0.34 earnings per share for the current fiscal year.

Datadog Company 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.