OVERSEA CHINESE BANKING Corp Ltd Purchases Shares of 2,553 Datadog, Inc. (NASDAQ:DDOG)

OVERSEA CHINESE BANKING Corp Ltd purchased a new stake in Datadog, Inc. (NASDAQ:DDOG) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 2,553 shares of the company’s stock, valued at approximately $365,000.

Other large investors have also recently bought and sold shares of the company. Proficio Capital Partners LLC bought a new position in Datadog in the 4th quarter valued at $14,884,000. ARK Investment Management LLC boosted its holdings in Datadog by 62.7% in the 4th quarter. ARK Investment Management LLC now owns 127,290 shares of the company’s stock valued at $18,188,000 after purchasing an additional 49,050 shares during the period. Y Intercept Hong Kong Ltd raised its position in shares of Datadog by 140.1% during the 4th quarter. Y Intercept Hong Kong Ltd now owns 53,116 shares of the company’s stock valued at $7,590,000 after buying an additional 30,998 shares in the last quarter. Baillie Gifford & Co. raised its position in shares of Datadog by 15.8% during the 4th quarter. Baillie Gifford & Co. now owns 10,905,133 shares of the company’s stock valued at $1,558,234,000 after buying an additional 1,484,562 shares in the last quarter. Finally, Atom Investors LP purchased a new stake in shares of Datadog during the 3rd quarter valued at $1,112,000. 78.29% of the stock is owned by institutional investors.

Insider Activity

In other news, President Amit Agarwal sold 25,000 shares of Datadog stock in a transaction dated Thursday, December 26th. The shares were sold at an average price of $147.99, for a total transaction of $3,699,750.00. Following the sale, the president now owns 195,667 shares of the company’s stock, valued at approximately $28,956,759.33. The trade was a 11.33 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CTO Alexis Le-Quoc sold 127,105 shares of Datadog stock in a transaction dated Wednesday, January 8th. The shares were sold at an average price of $141.21, for a total transaction of $17,948,497.05. Following the sale, the chief technology officer now directly owns 324,778 shares in the company, valued at $45,861,901.38. The trade was a 28.13 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 626,412 shares of company stock valued at $79,144,334. Corporate insiders own 11.78% of the company’s stock.

Datadog Stock Down 1.2 %

Shares of Datadog stock opened at $103.17 on Friday. The company’s fifty day simple moving average is $127.67 and its two-hundred day simple moving average is $130.80. The firm has a market cap of $35.36 billion, a PE ratio of 202.30, a price-to-earnings-growth ratio of 44.03 and a beta of 1.22. Datadog, Inc. has a 12-month low of $98.30 and a 12-month high of $170.08.

Datadog (NASDAQ:DDOG) last announced 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 net margin of 6.85% and a return on equity of 8.28%. As a group, sell-side analysts expect that Datadog, Inc. will post 0.34 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on DDOG shares. Royal Bank of Canada raised their price objective on shares of Datadog from $151.00 to $170.00 and gave the company an “outperform” rating in a research report on Friday, January 3rd. Wolfe Research cut shares of Datadog from an “outperform” rating to a “peer perform” rating in a research report on Tuesday, February 18th. DA Davidson raised their price objective on shares of Datadog from $150.00 to $165.00 and gave the company a “buy” rating in a research report on Monday, February 10th. Guggenheim restated a “neutral” rating on shares of Datadog in a research report on Wednesday, January 22nd. Finally, Morgan Stanley restated an “equal weight” rating and set a $143.00 price objective on shares of Datadog in a research report on Thursday, January 16th. One research 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 assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Datadog currently has a consensus rating of “Moderate Buy” and an average target price of $158.70.

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.