Krane Funds Advisors LLC Purchases Shares of 1,754 Datadog, Inc. (NASDAQ:DDOG)

Krane Funds Advisors LLC bought a new position in Datadog, Inc. (NASDAQ:DDOG) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 1,754 shares of the company’s stock, valued at approximately $251,000.

A number of other institutional investors have also recently bought and sold shares of DDOG. Groupama Asset Managment raised its position in Datadog by 407.6% in the fourth quarter. Groupama Asset Managment now owns 6,600,000 shares of the company’s stock worth $943,074,000 after purchasing an additional 5,299,688 shares in the last quarter. Norges Bank acquired a new stake in Datadog during the 4th quarter valued at $462,910,000. Jennison Associates LLC raised its position in Datadog by 47.9% in the 4th quarter. Jennison Associates LLC now owns 9,278,648 shares of the company’s stock valued at $1,325,826,000 after purchasing an additional 3,005,300 shares during the last quarter. Baillie Gifford & Co. boosted its stake in Datadog by 15.8% in 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. Finally, William Blair Investment Management LLC bought a new stake in shares of Datadog during the fourth quarter worth $173,163,000. Institutional investors and hedge funds own 78.29% of the company’s stock.

Analyst Ratings Changes

DDOG has been the subject of several research reports. Barclays lowered their price objective on shares of Datadog from $187.00 to $180.00 and set an “overweight” rating for the company in a research report on Friday, February 14th. Jefferies Financial Group reduced their price objective on Datadog from $170.00 to $150.00 and set a “buy” rating on the stock in a report on Monday, March 31st. JMP Securities reissued a “market perform” rating on shares of Datadog in a research note on Friday, February 14th. Royal Bank of Canada upped their price target on Datadog from $151.00 to $170.00 and gave the company an “outperform” rating in a research note on Friday, January 3rd. Finally, Guggenheim reiterated a “neutral” rating on shares of Datadog in a research report on Wednesday, January 22nd. One investment 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 data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $157.22.

Insiders Place Their Bets

In other news, CRO Sean Michael Walters sold 8,454 shares of the business’s stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $102.04, for a total value of $862,646.16. Following the sale, the executive now directly owns 185,871 shares of the company’s stock, valued at $18,966,276.84. The trade was a 4.35 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CTO Alexis Le-Quoc sold 127,105 shares of the 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. This trade represents a 28.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 601,412 shares of company stock valued at $75,444,584 in the last quarter. Insiders own 11.78% of the company’s stock.

Datadog Trading Down 6.9 %

DDOG stock opened at $87.93 on Monday. The company’s 50 day moving average is $119.52 and its 200 day moving average is $130.45. The stock has a market cap of $30.14 billion, a price-to-earnings ratio of 172.42, a price-to-earnings-growth ratio of 44.03 and a beta of 1.20. Datadog, Inc. has a 1-year low of $82.71 and a 1-year high of $170.08.

Datadog (NASDAQ:DDOG) last announced its earnings results on Thursday, February 13th. The company reported $0.13 earnings per share (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%. As a group, sell-side analysts forecast that Datadog, Inc. will post 0.34 EPS for the current fiscal year.

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.