Nikko Asset Management Americas Inc. Has $28.14 Million Holdings in Datadog, Inc. (NASDAQ:DDOG)

Nikko Asset Management Americas Inc. lessened its stake in Datadog, Inc. (NASDAQ:DDOG) by 14.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 197,085 shares of the company’s stock after selling 32,235 shares during the quarter. Nikko Asset Management Americas Inc. owned about 0.06% of Datadog worth $28,140,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of DDOG. ARK Investment Management LLC raised its stake in Datadog by 62.7% during the fourth quarter. ARK Investment Management LLC now owns 127,290 shares of the company’s stock worth $18,188,000 after acquiring an additional 49,050 shares in the last quarter. Proficio Capital Partners LLC acquired a new position in Datadog during the fourth quarter worth about $14,884,000. Baillie Gifford & Co. raised its stake in Datadog by 15.8% during the fourth quarter. Baillie Gifford & Co. now owns 10,905,133 shares of the company’s stock worth $1,558,234,000 after acquiring an additional 1,484,562 shares in the last quarter. Y Intercept Hong Kong Ltd raised its stake in Datadog by 140.1% during the fourth quarter. Y Intercept Hong Kong Ltd now owns 53,116 shares of the company’s stock worth $7,590,000 after acquiring an additional 30,998 shares in the last quarter. Finally, Atom Investors LP acquired a new position in Datadog during the third quarter worth about $1,112,000. Institutional investors and hedge funds own 78.29% of the company’s stock.

Wall Street Analyst Weigh In

DDOG has been the subject of several recent research reports. Morgan Stanley reaffirmed an “equal weight” rating and issued a $143.00 price objective on shares of Datadog in a research note on Thursday, January 16th. Rosenblatt Securities upped their price objective on Datadog from $148.00 to $160.00 and gave the company a “buy” rating in a research note on Wednesday, February 12th. Needham & Company LLC reaffirmed a “buy” rating and issued a $160.00 price objective on shares of Datadog in a research note on Tuesday, March 4th. Cantor Fitzgerald initiated coverage on Datadog in a research note on Friday, January 17th. They issued an “overweight” rating and a $180.00 price objective for the company. Finally, Wells Fargo & Company downgraded Datadog from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $152.00 to $140.00 in a research note on Thursday, February 13th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, twenty-one have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $158.70.

Datadog Stock Up 3.2 %

Shares of NASDAQ DDOG opened at $101.80 on Monday. Datadog, Inc. has a 52 week low of $98.30 and a 52 week high of $170.08. The business has a 50-day simple moving average of $130.81 and a two-hundred day simple moving average of $131.35. The company has a market cap of $34.89 billion, a P/E ratio of 199.61, a P/E/G 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 EPS 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%. Equities research analysts anticipate that Datadog, Inc. will post 0.34 EPS for the current year.

Insider Activity

In other news, CTO Alexis Le-Quoc sold 127,105 shares of Datadog stock in a transaction dated Wednesday, January 8th. The stock was sold at an average price of $141.21, for a total transaction 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 position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Shardul Shah sold 7,916 shares of Datadog stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $142.12, for a total value of $1,125,021.92. Following the sale, the director now owns 427,785 shares of the company’s stock, valued at approximately $60,796,804.20. This trade represents a 1.82 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 645,638 shares of company stock worth $82,099,946. 11.78% of the stock is currently 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.