Krane Funds Advisors LLC Takes $251,000 Position in Datadog, Inc. (NASDAQ:DDOG)

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

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Groupama Asset Managment boosted its stake in shares of Datadog by 407.6% during the 4th quarter. Groupama Asset Managment now owns 6,600,000 shares of the company’s stock valued at $943,074,000 after buying an additional 5,299,688 shares during the last quarter. Norges Bank acquired a new position in shares of Datadog in the 4th quarter worth approximately $462,910,000. Jennison Associates LLC increased its holdings in shares of 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 acquiring an additional 3,005,300 shares during 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 acquiring an additional 1,484,562 shares in the last quarter. Finally, William Blair Investment Management LLC bought a new position in Datadog during the fourth quarter worth $173,163,000. 78.29% of the stock is owned by hedge funds and other institutional investors.

Datadog Price Performance

Shares of DDOG opened at $87.93 on Monday. The business’s 50-day moving average is $119.52 and its 200-day moving average is $130.45. The company has a market capitalization of $30.14 billion, a price-to-earnings ratio of 172.42, a P/E/G ratio of 44.03 and a beta of 1.20. Datadog, Inc. has a fifty-two week low of $82.71 and a fifty-two week high of $170.08.

Datadog (NASDAQ:DDOG) last issued its earnings results on Thursday, February 13th. The company reported $0.13 earnings per share (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%. Equities research analysts expect that Datadog, Inc. will post 0.34 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Amit Agarwal sold 25,000 shares of the firm’s stock in a transaction that occurred on Wednesday, January 8th. The stock was sold at an average price of $141.12, for a total value of $3,528,000.00. Following the transaction, the director now directly owns 195,667 shares of the company’s stock, valued at approximately $27,612,527.04. This trade represents a 11.33 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CTO Alexis Le-Quoc sold 127,105 shares of the stock in a transaction that occurred on Wednesday, January 8th. The shares were sold at an average price of $141.21, for a total value of $17,948,497.05. Following the transaction, 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 disclosure for this sale can be found here. Insiders sold a total of 601,412 shares of company stock worth $75,444,584 in the last three months. 11.78% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on DDOG. JMP Securities reissued a “market perform” rating on shares of Datadog in a report on Friday, February 14th. Wolfe Research lowered shares of Datadog from an “outperform” rating to a “peer perform” rating in a research note on Tuesday, February 18th. Wells Fargo & Company downgraded Datadog from an “overweight” rating to an “equal weight” rating and decreased their target price for the company from $152.00 to $140.00 in a research note on Thursday, February 13th. Macquarie reiterated an “outperform” rating and set a $200.00 price target on shares of Datadog in a research report on Tuesday, February 11th. Finally, Citigroup reduced their price objective on Datadog from $170.00 to $165.00 and set a “buy” rating for the company in a research report on Friday, February 14th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, twenty-one have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $157.22.

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.