Datadog, Inc. (NASDAQ:DDOG) Shares Sold by DnB Asset Management AS

DnB Asset Management AS reduced its stake in shares of Datadog, Inc. (NASDAQ:DDOG) by 3.5% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,578,648 shares of the company’s stock after selling 57,226 shares during the period. Datadog makes up about 1.0% of DnB Asset Management AS’s holdings, making the stock its 17th largest position. DnB Asset Management AS owned about 0.46% of Datadog worth $225,573,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. True Wealth Design LLC increased its position in shares of Datadog by 12,000.0% during the third quarter. True Wealth Design LLC now owns 242 shares of the company’s stock worth $28,000 after acquiring an additional 240 shares during the last quarter. Retirement Wealth Solutions LLC acquired a new stake in shares of Datadog in the fourth quarter worth about $30,000. Avior Wealth Management LLC increased its position in Datadog by 55.9% during the fourth quarter. Avior Wealth Management LLC now owns 226 shares of the company’s stock worth $32,000 after acquiring an additional 81 shares during the period. Quarry LP bought a new stake in Datadog in the third quarter valued at $33,000. Finally, Kieckhefer Group LLC bought a new position in Datadog in the fourth quarter valued at about $43,000. 78.29% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Datadog

In other Datadog news, CTO Alexis Le-Quoc sold 127,105 shares of the firm’s stock in a transaction dated Wednesday, January 8th. The shares were sold at an average price of $141.21, for a total transaction of $17,948,497.05. Following the completion of the transaction, the chief technology officer now owns 324,778 shares in the company, valued at $45,861,901.38. This trade represents a 28.13 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Amit Agarwal sold 25,000 shares of Datadog stock in a transaction dated Wednesday, January 8th. The shares were sold at an average price of $141.12, for a total transaction of $3,528,000.00. Following the transaction, the director now directly owns 195,667 shares of the company’s stock, valued at $27,612,527.04. This represents a 11.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 601,412 shares of company stock valued at $75,444,584 in the last three months. 11.78% of the stock is currently owned by company insiders.

Datadog Trading Down 2.9 %

DDOG stock opened at $104.85 on Friday. The firm has a 50 day moving average of $124.54 and a 200-day moving average of $130.69. Datadog, Inc. has a 12-month low of $98.30 and a 12-month high of $170.08. The company has a market cap of $35.94 billion, a price-to-earnings ratio of 205.59, a PEG ratio of 44.03 and a beta of 1.22.

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 return on equity of 8.28% and a net margin of 6.85%. Sell-side analysts forecast that Datadog, Inc. will post 0.34 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts have issued reports on the stock. Mizuho boosted their price objective on shares of Datadog from $155.00 to $170.00 and gave the company an “outperform” rating in a report on Friday, December 13th. Macquarie reissued an “outperform” rating and issued a $200.00 price target on shares of Datadog in a research note on Tuesday, February 11th. Wolfe Research lowered Datadog from an “outperform” rating to a “peer perform” rating in a research report on Tuesday, February 18th. Truist Financial reduced their price objective on shares of Datadog from $150.00 to $140.00 and set a “hold” rating for the company in a research note on Friday, February 14th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $160.00 price objective on shares of Datadog in a research note on Tuesday, March 4th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, twenty-one have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $158.70.

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.