E Fund Management Co. Ltd. Grows Stock Position in Datadog, Inc. (NASDAQ:DDOG)

E Fund Management Co. Ltd. increased its position in Datadog, Inc. (NASDAQ:DDOG) by 279.5% in the 4th quarter, HoldingsChannel reports. The fund owned 11,017 shares of the company’s stock after buying an additional 8,114 shares during the quarter. E Fund Management Co. Ltd.’s holdings in Datadog were worth $1,574,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in DDOG. True Wealth Design LLC increased its holdings in Datadog by 12,000.0% in the 3rd quarter. True Wealth Design LLC now owns 242 shares of the company’s stock worth $28,000 after acquiring an additional 240 shares in the last quarter. Retirement Wealth Solutions LLC purchased a new stake in Datadog in the 4th quarter worth approximately $30,000. Avior Wealth Management LLC increased its holdings in Datadog by 55.9% in the 4th quarter. Avior Wealth Management LLC now owns 226 shares of the company’s stock worth $32,000 after acquiring an additional 81 shares in the last quarter. Meeder Asset Management Inc. increased its holdings in Datadog by 66.5% in the 3rd quarter. Meeder Asset Management Inc. now owns 288 shares of the company’s stock worth $33,000 after acquiring an additional 115 shares in the last quarter. Finally, Quarry LP purchased a new stake in Datadog in the 3rd quarter worth approximately $33,000. 78.29% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

DDOG has been the subject of several analyst reports. Stifel Nicolaus lowered shares of Datadog from a “buy” rating to a “hold” rating and reduced their target price for the stock from $165.00 to $140.00 in a report on Wednesday, January 29th. Cantor Fitzgerald initiated coverage on Datadog in a research note on Friday, January 17th. They issued an “overweight” rating and a $180.00 price target for the company. Barclays dropped their price target on Datadog from $187.00 to $180.00 and set an “overweight” rating for the company in a research note on Friday, February 14th. Jefferies Financial Group upped their price target on Datadog from $155.00 to $170.00 and gave the stock a “buy” rating in a research note on Monday, January 6th. Finally, Needham & Company LLC restated a “buy” rating and issued a $160.00 price target on shares of Datadog in a research note on Tuesday. One investment 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 stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $158.70.

Datadog Stock Down 3.2 %

Shares of DDOG opened at $111.46 on Friday. The company has a market cap of $38.20 billion, a PE ratio of 218.55, a P/E/G ratio of 44.03 and a beta of 1.22. The business has a fifty day moving average of $135.78 and a 200 day moving average of $131.71. Datadog, Inc. has a 52-week low of $98.80 and a 52-week high of $170.08.

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

Insiders Place Their Bets

In other Datadog news, Director Shardul Shah sold 7,916 shares of the stock in a transaction on Monday, December 16th. The stock was sold at an average price of $155.25, for a total value of $1,228,959.00. Following the sale, the director now owns 435,701 shares in the company, valued at $67,642,580.25. This trade represents a 1.78 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Amit Agarwal sold 25,000 shares of the stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $114.21, for a total value of $2,855,250.00. Following the completion of the sale, the director now owns 82,324 shares in the company, valued at approximately $9,402,224.04. The trade was a 23.29 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 589,353 shares of company stock worth $86,544,020 over the last quarter. Company 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.