Van ECK Associates Corp Makes New $182,000 Investment in Datadog, Inc. (NASDAQ:DDOG)

Van ECK Associates Corp bought a new stake in Datadog, Inc. (NASDAQ:DDOG) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 1,271 shares of the company’s stock, valued at approximately $182,000.

Other large investors have also modified their holdings of the company. Jennison Associates LLC grew its stake in Datadog by 47.9% during the 4th quarter. Jennison Associates LLC now owns 9,278,648 shares of the company’s stock valued at $1,325,826,000 after purchasing an additional 3,005,300 shares in the last quarter. Holocene Advisors LP grew its stake in Datadog by 205.2% during the 3rd quarter. Holocene Advisors LP now owns 1,632,870 shares of the company’s stock valued at $187,878,000 after purchasing an additional 1,097,815 shares in the last quarter. Champlain Investment Partners LLC acquired a new stake in Datadog during the 3rd quarter valued at approximately $52,561,000. Eagle Asset Management Inc. grew its stake in Datadog by 72.4% during the 3rd quarter. Eagle Asset Management Inc. now owns 914,776 shares of the company’s stock valued at $113,844,000 after purchasing an additional 384,121 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. grew its stake in Datadog by 51.5% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 608,252 shares of the company’s stock valued at $69,985,000 after purchasing an additional 206,696 shares in the last quarter. Institutional investors and hedge funds own 78.29% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Olivier Pomel sold 178,723 shares of the stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $161.28, for a total transaction of $28,824,445.44. Following the completion of the transaction, the chief executive officer now directly owns 379,693 shares in the company, valued at $61,236,887.04. This represents a 32.01 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CTO Alexis Le-Quoc sold 127,105 shares of the stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $142.78, for a total transaction of $18,148,051.90. Following the transaction, the chief technology officer now owns 324,778 shares of the company’s stock, valued at approximately $46,371,802.84. This represents a 28.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 556,674 shares of company stock worth $82,904,025. Corporate insiders own 11.78% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Morgan Stanley restated an “equal weight” rating and set a $143.00 price objective on shares of Datadog in a research note on Thursday, January 16th. Monness Crespi & Hardt upgraded Datadog from a “neutral” rating to a “buy” rating and set a $155.00 price objective for the company in a research note on Thursday, November 7th. JMP Securities restated a “market perform” rating on shares of Datadog in a research note on Friday, February 14th. TD Cowen reaffirmed a “buy” rating and set a $165.00 target price on shares of Datadog in a report on Tuesday, November 19th. Finally, Citigroup reduced their target price on Datadog from $170.00 to $165.00 and set a “buy” rating on the stock in a report on Friday, February 14th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, twenty-one have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $158.70.

Datadog Stock Performance

NASDAQ:DDOG opened at $119.67 on Monday. The stock’s fifty day moving average price is $142.18 and its two-hundred day moving average price is $131.92. Datadog, Inc. has a 52-week low of $98.80 and a 52-week high of $170.08. The company has a market cap of $40.66 billion, a price-to-earnings ratio of 234.66, a P/E/G ratio of 44.03 and a beta of 1.15.

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

Datadog 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.