83,803 Shares in Datadog, Inc. (NASDAQ:DDOG) Bought by Resona Asset Management Co. Ltd.

Resona Asset Management Co. Ltd. bought a new position in shares of Datadog, Inc. (NASDAQ:DDOG) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 83,803 shares of the company’s stock, valued at approximately $12,010,000.

Several other hedge funds have also modified their holdings of the stock. Allworth Financial LP raised its holdings in Datadog by 7.7% during the 4th quarter. Allworth Financial LP now owns 1,043 shares of the company’s stock worth $146,000 after buying an additional 75 shares during the period. Spire Wealth Management increased its position in shares of Datadog by 21.4% in the fourth quarter. Spire Wealth Management now owns 453 shares of the company’s stock worth $65,000 after acquiring an additional 80 shares in the last quarter. Avior Wealth Management LLC raised its holdings in shares of 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 acquiring an additional 81 shares during the period. Farther Finance Advisors LLC lifted its position in shares of Datadog by 5.2% in the 4th quarter. Farther Finance Advisors LLC now owns 1,853 shares of the company’s stock valued at $265,000 after acquiring an additional 92 shares in the last quarter. Finally, Parkside Financial Bank & Trust boosted its stake in Datadog by 16.5% in the 4th quarter. Parkside Financial Bank & Trust now owns 663 shares of the company’s stock worth $95,000 after purchasing an additional 94 shares during the period. 78.29% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CTO Alexis Le-Quoc sold 127,105 shares of the stock in a transaction dated 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 sale, the chief technology officer now owns 324,778 shares in the company, valued at approximately $45,861,901.38. This trade represents a 28.13 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Shardul Shah sold 7,916 shares of Datadog stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $142.12, for a total value of $1,125,021.92. Following the sale, the director now directly owns 427,785 shares in the company, valued at approximately $60,796,804.20. This trade represents a 1.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 601,412 shares of company stock valued at $75,444,584. 11.78% of the stock is owned by company insiders.

Datadog Price Performance

Shares of DDOG opened at $87.93 on Monday. Datadog, Inc. has a one year low of $82.71 and a one year high of $170.08. The company’s fifty day moving average price is $119.52 and its 200 day moving average price is $130.45. The company has a market capitalization of $30.14 billion, a PE ratio of 172.42, a price-to-earnings-growth ratio of 44.03 and a beta of 1.20.

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 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%. Analysts anticipate that Datadog, Inc. will post 0.34 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages have issued reports on DDOG. Royal Bank of Canada boosted their target price on shares of Datadog from $151.00 to $170.00 and gave the company an “outperform” rating in a research note on Friday, January 3rd. Mizuho increased their price objective on Datadog from $155.00 to $170.00 and gave the stock an “outperform” rating in a research note on Friday, December 13th. Loop Capital lifted their target price on Datadog from $160.00 to $200.00 and gave the company a “buy” rating in a research note on Monday, December 23rd. Cantor Fitzgerald assumed coverage on shares of Datadog in a research report on Friday, January 17th. They issued an “overweight” rating and a $180.00 price target for the company. Finally, DA Davidson boosted their price objective on shares of Datadog from $150.00 to $165.00 and gave the company a “buy” rating in a research report on Monday, February 10th. One equities 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 given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Datadog 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.