Frontier Capital Management Co. LLC Has $38.22 Million Stake in Datadog, Inc. (NASDAQ:DDOG)

Frontier Capital Management Co. LLC cut its holdings in Datadog, Inc. (NASDAQ:DDOG) by 5.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 267,458 shares of the company’s stock after selling 16,671 shares during the quarter. Frontier Capital Management Co. LLC’s holdings in Datadog were worth $38,217,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Groupama Asset Managment lifted its stake in Datadog by 407.6% in the fourth quarter. Groupama Asset Managment now owns 6,600,000 shares of the company’s stock valued at $943,074,000 after buying an additional 5,299,688 shares during the period. Norges Bank bought a new position in shares of Datadog during the fourth quarter worth $462,910,000. Jennison Associates LLC increased its position in shares of Datadog by 47.9% in the 4th 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 in the last quarter. Brown Advisory Inc. raised its stake in Datadog by 2,804.2% during the 4th quarter. Brown Advisory Inc. now owns 2,749,174 shares of the company’s stock worth $392,830,000 after buying an additional 2,654,512 shares during the period. Finally, Baillie Gifford & Co. raised its holdings in Datadog by 15.8% during the 4th quarter. Baillie Gifford & Co. now owns 10,905,133 shares of the company’s stock worth $1,558,234,000 after buying an additional 1,484,562 shares during the period. Institutional investors and hedge funds own 78.29% of the company’s stock.

Datadog Stock Up 3.1 %

Shares of NASDAQ:DDOG opened at $109.36 on Friday. The firm has a market cap of $37.48 billion, a PE ratio of 214.43, a PEG ratio of 44.03 and a beta of 1.12. The company’s 50 day moving average price is $100.36 and its two-hundred day moving average price is $125.92. Datadog, Inc. has a 12-month low of $81.63 and a 12-month high of $170.08.

Datadog (NASDAQ:DDOG) last issued its quarterly earnings results on Tuesday, May 6th. The company reported $0.46 EPS for the quarter, topping analysts’ consensus estimates of $0.42 by $0.04. Datadog had a return on equity of 8.28% and a net margin of 6.85%. The company had revenue of $761.55 million for the quarter, compared to analysts’ expectations of $741.73 million. During the same quarter last year, the business earned $0.44 earnings per share. Datadog’s revenue was up 24.6% on a year-over-year basis. On average, research analysts expect that Datadog, Inc. will post 0.34 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Macquarie dropped their price target on Datadog from $175.00 to $140.00 and set an “outperform” rating on the stock in a research note on Wednesday. Truist Financial lowered their price objective on shares of Datadog from $140.00 to $120.00 and set a “hold” rating on the stock in a report on Monday, March 31st. DA Davidson increased their target price on shares of Datadog from $115.00 to $125.00 and gave the stock a “buy” rating in a report on Monday. Stifel Nicolaus set a $120.00 price target on shares of Datadog in a research note on Tuesday. Finally, JMP Securities restated a “market perform” rating on shares of Datadog in a report on Friday, February 14th. Seven research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $141.54.

Insider Activity at Datadog

In other news, CEO Olivier Pomel sold 107,365 shares of the business’s stock in a transaction on Friday, March 7th. The stock was sold at an average price of $109.56, for a total transaction of $11,762,909.40. Following the completion of the transaction, the chief executive officer now owns 435,793 shares of the company’s stock, valued at approximately $47,745,481.08. The trade was a 19.77 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CTO Alexis Le-Quoc sold 127,105 shares of the firm’s stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $102.15, for a total value of $12,983,775.75. Following the completion of the sale, the chief technology officer now directly owns 371,865 shares in the company, 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. Insiders have sold 385,456 shares of company stock valued at $39,018,715 over the last three months. 11.78% of the stock is owned by insiders.

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.