Old Port Advisors Reduces Stake in Datadog, Inc. (NASDAQ:DDOG)

Old Port Advisors lessened its stake in shares of Datadog, Inc. (NASDAQ:DDOG) by 6.7% during the 4th quarter, Holdings Channel reports. The fund owned 7,004 shares of the company’s stock after selling 500 shares during the quarter. Old Port Advisors’ holdings in Datadog were worth $1,001,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of DDOG. Los Angeles Capital Management LLC raised its stake in Datadog by 172.2% during the third quarter. Los Angeles Capital Management LLC now owns 38,841 shares of the company’s stock worth $4,469,000 after purchasing an additional 24,574 shares during the period. Heritage Investors Management Corp acquired a new stake in shares of Datadog during the 3rd quarter worth approximately $1,157,000. Atom Investors LP purchased a new stake in shares of Datadog during the 3rd quarter valued at approximately $1,112,000. Jennison Associates LLC lifted its holdings in Datadog by 2.1% in the third quarter. Jennison Associates LLC now owns 6,273,348 shares of the company’s stock valued at $721,811,000 after acquiring an additional 126,613 shares during the last quarter. Finally, Parnassus Investments LLC grew its position in Datadog by 28.4% in the third quarter. Parnassus Investments LLC now owns 185,329 shares of the company’s stock worth $21,324,000 after acquiring an additional 40,952 shares during the period. Institutional investors and hedge funds own 78.29% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on DDOG. Stifel Nicolaus lifted their target price on Datadog from $141.00 to $165.00 and gave the company a “buy” rating in a research report on Wednesday, December 18th. DA Davidson boosted their price objective on shares of Datadog from $140.00 to $150.00 and gave the company a “buy” rating in a report on Friday, November 8th. Robert W. Baird upped their target price on shares of Datadog from $140.00 to $150.00 and gave the company an “outperform” rating in a research report on Friday, November 8th. TD Cowen reiterated a “buy” rating and set a $165.00 price target on shares of Datadog in a research report on Tuesday, November 19th. Finally, Wedbush upgraded shares of Datadog from a “buy” rating to a “strong-buy” rating in a report on Thursday, October 17th. One analyst has rated the stock with a sell rating, one has issued a hold rating, twenty-six have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, Datadog presently has a consensus rating of “Moderate Buy” and a consensus target price of $157.04.

Insider Buying and Selling

In related news, President Amit Agarwal sold 25,000 shares of the stock in a transaction on Thursday, December 26th. The shares were sold at an average price of $147.99, for a total value of $3,699,750.00. Following the transaction, the president now directly owns 195,667 shares of the company’s stock, valued at $28,956,759.33. This trade represents a 11.33 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Shardul Shah sold 15,832 shares of Datadog stock in a transaction on Friday, October 4th. The stock was sold at an average price of $120.02, for a total transaction of $1,900,156.64. Following the sale, the director now owns 459,449 shares in the company, valued at $55,143,068.98. This represents a 3.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 765,588 shares of company stock worth $105,029,356. Corporate insiders own 11.78% of the company’s stock.

Datadog Stock Performance

Shares of NASDAQ:DDOG traded up $0.34 during trading hours on Thursday, reaching $143.23. The stock had a trading volume of 670,105 shares, compared to its average volume of 4,005,172. Datadog, Inc. has a 1 year low of $98.80 and a 1 year high of $170.08. The firm’s 50 day moving average is $142.48 and its 200-day moving average is $127.00. The stock has a market capitalization of $48.66 billion, a price-to-earnings ratio of 270.25, a P/E/G ratio of 20.27 and a beta of 1.11.

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.