Norges Bank Invests $462.91 Million in Datadog, Inc. (NASDAQ:DDOG)

Norges Bank acquired a new stake in shares of Datadog, Inc. (NASDAQ:DDOG) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 3,239,628 shares of the company’s stock, valued at approximately $462,910,000. Norges Bank owned 0.95% of Datadog at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Jennison Associates LLC boosted its holdings in shares of Datadog by 47.9% during the fourth quarter. Jennison Associates LLC now owns 9,278,648 shares of the company’s stock valued at $1,325,826,000 after acquiring an additional 3,005,300 shares during the period. Baillie Gifford & Co. lifted its position in Datadog by 15.8% in the 4th quarter. Baillie Gifford & Co. now owns 10,905,133 shares of the company’s stock valued at $1,558,234,000 after purchasing an additional 1,484,562 shares during the last quarter. William Blair Investment Management LLC bought a new position in Datadog in the 4th quarter worth about $173,163,000. Holocene Advisors LP increased its stake in shares of Datadog by 205.2% in the third 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 during the period. Finally, Vanguard Group Inc. raised its holdings in shares of Datadog by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 30,354,229 shares of the company’s stock valued at $4,337,316,000 after buying an additional 220,527 shares during the last quarter. 78.29% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages recently issued reports on DDOG. Wells Fargo & Company lowered Datadog from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $152.00 to $140.00 in a report on Thursday, February 13th. Loop Capital raised their price target on Datadog from $160.00 to $200.00 and gave the company a “buy” rating in a report on Monday, December 23rd. Rosenblatt Securities upped their price objective on shares of Datadog from $148.00 to $160.00 and gave the stock a “buy” rating in a report on Wednesday, February 12th. Truist Financial lowered their target price on shares of Datadog from $150.00 to $140.00 and set a “hold” rating on the stock in a research note on Friday, February 14th. Finally, Barclays reduced their price target on shares of Datadog from $187.00 to $180.00 and set an “overweight” rating for the company in a research note on Friday, February 14th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, twenty-one have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $158.70.

Datadog Trading Down 3.6 %

Shares of DDOG stock opened at $101.10 on Friday. The company has a market capitalization of $34.65 billion, a price-to-earnings ratio of 198.24, a P/E/G ratio of 44.03 and a beta of 1.22. Datadog, Inc. has a 1-year low of $98.30 and a 1-year high of $170.08. The stock’s fifty day simple moving average is $123.79 and its 200-day simple moving average is $130.65.

Datadog (NASDAQ:DDOG) last released 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, sell-side analysts predict that Datadog, Inc. will post 0.34 EPS for the current year.

Insider Buying and Selling at Datadog

In other news, Director Amit Agarwal sold 25,000 shares of the company’s stock in a transaction on Wednesday, January 8th. The shares were sold at an average price of $141.12, for a total value of $3,528,000.00. Following the transaction, the director now directly owns 195,667 shares of the company’s stock, valued at approximately $27,612,527.04. This represents a 11.33 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Olivier Pomel sold 11,195 shares of Datadog stock in a transaction on Monday, January 27th. The shares were sold at an average price of $139.86, for a total value of $1,565,732.70. Following the sale, the chief executive officer now directly owns 379,693 shares of the company’s stock, valued at approximately $53,103,862.98. The trade was a 2.86 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 601,412 shares of company stock worth $75,444,584. 11.78% of the stock is currently owned by company insiders.

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.