E Fund Management Co. Ltd. Boosts Holdings in Datadog, Inc. (NASDAQ:DDOG)

E Fund Management Co. Ltd. grew its holdings in shares of Datadog, Inc. (NASDAQ:DDOG) by 279.5% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 11,017 shares of the company’s stock after acquiring an additional 8,114 shares during the quarter. E Fund Management Co. Ltd.’s holdings in Datadog were worth $1,574,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Retirement Wealth Solutions LLC purchased a new position in shares of Datadog in the fourth quarter worth $30,000. Avior Wealth Management LLC increased its stake in shares of Datadog by 55.9% in the fourth quarter. Avior Wealth Management LLC now owns 226 shares of the company’s stock worth $32,000 after buying an additional 81 shares during the period. True Wealth Design LLC increased its stake in shares of Datadog by 12,000.0% in the third quarter. True Wealth Design LLC now owns 242 shares of the company’s stock worth $28,000 after buying an additional 240 shares during the period. Meeder Asset Management Inc. increased its stake in shares of Datadog by 66.5% in the third quarter. Meeder Asset Management Inc. now owns 288 shares of the company’s stock worth $33,000 after buying an additional 115 shares during the period. Finally, Quarry LP purchased a new position in shares of Datadog in the third quarter worth $33,000. 78.29% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Shardul Shah sold 7,916 shares of the company’s stock in a transaction dated Monday, December 16th. The shares were 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 $67,642,580.25. This represents a 1.78 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Amit Agarwal sold 25,000 shares of the company’s stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $114.21, for a total transaction of $2,855,250.00. Following the sale, the director now directly owns 82,324 shares of the company’s stock, valued at $9,402,224.04. The trade was a 23.29 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 589,353 shares of company stock valued at $86,544,020. 11.78% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts recently commented on DDOG shares. TD Cowen reaffirmed a “buy” rating and issued a $165.00 target price on shares of Datadog in a research note on Tuesday, November 19th. Scotiabank cut their price target on shares of Datadog from $135.00 to $133.00 and set a “sector outperform” rating on the stock in a report on Friday, November 8th. Wells Fargo & Company cut shares of Datadog from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $152.00 to $140.00 in a report on Thursday, February 13th. Barclays cut their price target on shares of Datadog from $187.00 to $180.00 and set an “overweight” rating on the stock in a report on Friday, February 14th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $160.00 price target on shares of Datadog in a report on Tuesday. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, twenty-one have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, Datadog presently has an average rating of “Moderate Buy” and a consensus price target of $158.70.

Datadog Stock Performance

Shares of NASDAQ:DDOG opened at $111.46 on Friday. Datadog, Inc. has a fifty-two week low of $98.80 and a fifty-two week high of $170.08. The business has a 50-day simple moving average of $135.78 and a two-hundred day simple moving average of $131.71. The firm has a market cap of $38.20 billion, a price-to-earnings ratio of 218.55, a price-to-earnings-growth ratio of 44.03 and a beta of 1.22.

Datadog (NASDAQ:DDOG) last issued its earnings results 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%. As a group, research analysts predict that Datadog, Inc. will post 0.34 earnings per share for the current 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.