Massachusetts Financial Services Co. MA Increases Position in Datadog, Inc. (NASDAQ:DDOG)

Massachusetts Financial Services Co. MA lifted its position in shares of Datadog, Inc. (NASDAQ:DDOG) by 16.2% in the 4th quarter, Holdings Channel.com reports. The firm owned 4,476,279 shares of the company’s stock after purchasing an additional 625,429 shares during the period. Massachusetts Financial Services Co. MA’s holdings in Datadog were worth $639,616,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Retirement Wealth Solutions LLC acquired a new stake in Datadog during the fourth quarter worth approximately $30,000. Avior Wealth Management LLC raised its stake in Datadog by 55.9% during the 4th quarter. Avior Wealth Management LLC now owns 226 shares of the company’s stock worth $32,000 after acquiring an additional 81 shares in the last quarter. Quarry LP purchased a new stake in Datadog in the third quarter valued at $33,000. Kieckhefer Group LLC purchased a new stake in Datadog in the fourth quarter valued at $43,000. Finally, Summit Securities Group LLC purchased a new position in shares of Datadog during the fourth quarter worth about $43,000. Institutional investors and hedge funds own 78.29% of the company’s stock.

Insider Buying and Selling at Datadog

In other Datadog news, CEO Olivier Pomel sold 11,195 shares of the stock in a transaction on Monday, January 27th. The stock was sold at an average price of $139.86, for a total transaction of $1,565,732.70. Following the transaction, the chief executive officer now owns 379,693 shares of the company’s stock, valued at $53,103,862.98. This represents a 2.86 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CTO Alexis Le-Quoc sold 127,105 shares of the firm’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $142.78, for a total value of $18,148,051.90. Following the completion of the sale, the chief technology officer now directly owns 324,778 shares in the company, valued at approximately $46,371,802.84. The trade was a 28.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 601,412 shares of company stock worth $75,444,584. 11.78% of the stock is owned by corporate insiders.

Datadog Price Performance

Shares of NASDAQ:DDOG opened at $101.71 on Thursday. The firm has a market capitalization of $34.86 billion, a price-to-earnings ratio of 199.44, a price-to-earnings-growth ratio of 44.03 and a beta of 1.22. The business’s 50 day simple moving average is $121.49 and its 200-day simple moving average is $130.62. Datadog, Inc. has a 12 month low of $96.63 and a 12 month high of $170.08.

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

Analyst Ratings Changes

Several analysts have recently weighed in on the company. Barclays reduced their target price on Datadog from $187.00 to $180.00 and set an “overweight” rating for the company in a report on Friday, February 14th. Needham & Company LLC reissued a “buy” rating and issued a $160.00 price objective on shares of Datadog in a report on Tuesday, March 4th. Cantor Fitzgerald initiated coverage on shares of Datadog in a research report on Friday, January 17th. They set an “overweight” rating and a $180.00 target price on the stock. Wolfe Research downgraded shares of Datadog from an “outperform” rating to a “peer perform” rating in a research report on Tuesday, February 18th. Finally, Jefferies Financial Group lowered their price objective on shares of Datadog from $170.00 to $150.00 and set a “buy” rating on the stock in a research report on Monday. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, twenty-one have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $157.22.

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.