WCM Investment Management LLC Trims Stake in Datadog, Inc. (NASDAQ:DDOG)

WCM Investment Management LLC cut its stake in shares of Datadog, Inc. (NASDAQ:DDOG) by 1.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 4,291,938 shares of the company’s stock after selling 70,360 shares during the quarter. Datadog makes up approximately 1.5% of WCM Investment Management LLC’s holdings, making the stock its 29th biggest holding. WCM Investment Management LLC owned about 1.26% of Datadog worth $618,769,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Jennison Associates LLC increased its position in shares of Datadog by 47.9% during the fourth quarter. Jennison Associates LLC now owns 9,278,648 shares of the company’s stock worth $1,325,826,000 after acquiring an additional 3,005,300 shares during the period. Geode Capital Management LLC boosted its stake in shares of Datadog by 2.5% during the third quarter. Geode Capital Management LLC now owns 5,185,557 shares of the company’s stock valued at $595,438,000 after purchasing an additional 125,457 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Datadog by 2.4% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,024,926 shares of the company’s stock valued at $232,988,000 after purchasing an additional 46,746 shares in the last quarter. Holocene Advisors LP boosted its stake in shares of Datadog by 205.2% during the third quarter. Holocene Advisors LP now owns 1,632,870 shares of the company’s stock valued at $187,878,000 after purchasing an additional 1,097,815 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Datadog by 2.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,176,577 shares of the company’s stock valued at $135,377,000 after purchasing an additional 29,404 shares in the last quarter. 78.29% of the stock is owned by hedge funds and other institutional investors.

Datadog Trading Down 1.5 %

Shares of NASDAQ DDOG opened at $142.65 on Friday. Datadog, Inc. has a 12-month low of $98.80 and a 12-month high of $170.08. The stock has a market cap of $48.46 billion, a PE ratio of 269.16, a P/E/G ratio of 16.83 and a beta of 1.15. The company has a 50-day moving average of $147.06 and a 200 day moving average of $130.25.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. Mizuho increased their price objective on shares of Datadog from $155.00 to $170.00 and gave the company an “outperform” rating in a research note on Friday, December 13th. Wedbush upgraded shares of Datadog from a “buy” rating to a “strong-buy” rating in a research note on Thursday, October 17th. Rosenblatt Securities raised their target price on shares of Datadog from $140.00 to $148.00 and gave the company a “buy” rating in a research note on Friday, November 8th. Sanford C. Bernstein lowered their target price on shares of Datadog from $157.00 to $151.00 and set an “outperform” rating for the company in a research note on Monday, October 21st. Finally, Monness Crespi & Hardt upgraded shares of Datadog from a “neutral” rating to a “buy” rating and set a $155.00 target price for the company in a research note on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, twenty-five have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $157.59.

Insider Activity

In other news, Director Shardul Shah sold 7,916 shares of the stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $155.25, for a total value of $1,228,959.00. Following the completion of the sale, the director now owns 435,701 shares of the company’s stock, valued at $67,642,580.25. This represents a 1.78 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, General Counsel Kerry Acocella sold 2,488 shares of the stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $158.04, for a total transaction of $393,203.52. Following the completion of the sale, the general counsel now directly owns 68,758 shares of the company’s stock, valued at approximately $10,866,514.32. This trade represents a 3.49 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 780,979 shares of company stock valued at $111,869,206 in the last 90 days. 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.