Federated Hermes Inc. Acquires 313,936 Shares of Datadog, Inc. (NASDAQ:DDOG)

Federated Hermes Inc. increased its holdings in Datadog, Inc. (NASDAQ:DDOG) by 26.4% in the fourth quarter, HoldingsChannel reports. The firm owned 1,500,868 shares of the company’s stock after purchasing an additional 313,936 shares during the period. Federated Hermes Inc.’s holdings in Datadog were worth $214,465,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Groupama Asset Managment lifted its holdings in Datadog by 407.6% in the 4th 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 during the last quarter. Norges Bank bought a new position in shares of Datadog in the fourth quarter valued at approximately $462,910,000. Jennison Associates LLC boosted its holdings in shares of Datadog by 47.9% during the 4th quarter. Jennison Associates LLC now owns 9,278,648 shares of the company’s stock worth $1,325,826,000 after buying an additional 3,005,300 shares during the period. Baillie Gifford & Co. grew its stake 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 buying an additional 1,484,562 shares during the last quarter. Finally, William Blair Investment Management LLC bought a new position in Datadog in the 4th quarter worth $173,163,000. 78.29% of the stock is currently owned by institutional investors.

Datadog Trading Down 6.9 %

NASDAQ DDOG opened at $87.93 on Friday. Datadog, Inc. has a 12 month low of $86.57 and a 12 month high of $170.08. The stock has a 50-day simple moving average of $119.52 and a 200 day simple moving average of $130.33. The company has a market capitalization of $30.14 billion, a PE ratio of 172.42, a P/E/G ratio of 44.03 and a beta of 1.20.

Datadog (NASDAQ:DDOG) last announced its quarterly earnings results on Thursday, February 13th. The company reported $0.13 EPS 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 predict that Datadog, Inc. will post 0.34 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CTO Alexis Le-Quoc sold 127,105 shares of the firm’s stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $102.15, for a total transaction of $12,983,775.75. Following the sale, the chief technology officer now owns 371,865 shares of the company’s stock, valued at approximately $37,986,009.75. This trade represents a 25.47 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Olivier Pomel sold 11,195 shares of the business’s stock in a transaction dated 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 completion of the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 601,412 shares of company stock worth $75,444,584. Company insiders own 11.78% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. DA Davidson boosted their target price on shares of Datadog from $150.00 to $165.00 and gave the stock a “buy” rating in a research report on Monday, February 10th. Stifel Nicolaus lowered shares of Datadog from a “buy” rating to a “hold” rating and cut their price objective for the company from $165.00 to $140.00 in a research report on Wednesday, January 29th. Morgan Stanley reiterated an “equal weight” rating and issued a $143.00 target price on shares of Datadog in a research note on Thursday, January 16th. Guggenheim restated a “neutral” rating on shares of Datadog in a research note on Wednesday, January 22nd. Finally, Cantor Fitzgerald started coverage on Datadog in a report on Friday, January 17th. They set an “overweight” rating and a $180.00 price objective on the stock. One research analyst has rated the stock with a sell rating, seven have given a hold rating, twenty-one have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $157.22.

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.