Forge First Asset Management Inc. Invests $3.17 Million in Datadog, Inc. (NASDAQ:DDOG)

Forge First Asset Management Inc. bought a new position in shares of Datadog, Inc. (NASDAQ:DDOG) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 22,200 shares of the company’s stock, valued at approximately $3,170,000. Datadog accounts for about 1.1% of Forge First Asset Management Inc.’s holdings, making the stock its 23rd largest holding.

Several other hedge funds have also made changes to their positions in DDOG. Baillie Gifford & Co. raised its holdings 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 purchasing an additional 1,484,562 shares in the last quarter. Jennison Associates LLC boosted its position in Datadog by 47.9% during the fourth quarter. Jennison Associates LLC now owns 9,278,648 shares of the company’s stock worth $1,325,826,000 after acquiring an additional 3,005,300 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Datadog by 2.5% in the 3rd quarter. Geode Capital Management LLC now owns 5,185,557 shares of the company’s stock valued at $595,438,000 after purchasing an additional 125,457 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Datadog by 2.4% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,024,926 shares of the company’s stock valued at $232,988,000 after purchasing an additional 46,746 shares during the last quarter. Finally, Holocene Advisors LP raised its stake in shares of Datadog by 205.2% in the 3rd quarter. Holocene Advisors LP now owns 1,632,870 shares of the company’s stock valued at $187,878,000 after acquiring an additional 1,097,815 shares during the period. Institutional investors and hedge funds own 78.29% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Morgan Stanley reaffirmed an “equal weight” rating and set a $143.00 price target on shares of Datadog in a research note on Thursday, January 16th. Wells Fargo & Company lowered shares of Datadog from an “overweight” rating to an “equal weight” rating and decreased their price target for the company from $152.00 to $140.00 in a report on Thursday, February 13th. Loop Capital lifted their price target on shares of Datadog from $160.00 to $200.00 and gave the company a “buy” rating in a report on Monday, December 23rd. Guggenheim reaffirmed a “neutral” rating on shares of Datadog in a report on Wednesday, January 22nd. Finally, Royal Bank of Canada boosted their target price on shares of Datadog from $151.00 to $170.00 and gave the company an “outperform” rating in a research note on Friday, January 3rd. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, twenty-one have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, Datadog has a consensus rating of “Moderate Buy” and a consensus target price of $158.70.

Datadog Stock Performance

Shares of DDOG opened at $101.96 on Wednesday. The firm’s 50 day moving average price is $133.38 and its two-hundred day moving average price is $131.66. The firm has a market cap of $34.95 billion, a P/E ratio of 199.93, a PEG ratio of 44.03 and a beta of 1.22. Datadog, Inc. has a twelve month low of $98.80 and a twelve month high of $170.08.

Datadog (NASDAQ:DDOG) last released its quarterly earnings data 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, sell-side analysts anticipate that Datadog, Inc. will post 0.34 earnings per share for the current fiscal year.

Insider Activity at Datadog

In other news, CEO Olivier Pomel sold 107,365 shares of the stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $109.56, for a total value of $11,762,909.40. Following the completion of the transaction, the chief executive officer now owns 435,793 shares of the company’s stock, valued at approximately $47,745,481.08. This represents a 19.77 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Shardul Shah sold 7,916 shares of the stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $155.25, for a total transaction of $1,228,959.00. Following the completion of the transaction, the director now directly owns 435,701 shares of the company’s stock, valued at $67,642,580.25. This trade represents a 1.78 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 517,995 shares of company stock worth $69,482,484. Corporate insiders own 11.78% of the company’s stock.

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.