Cornercap Investment Counsel Inc. Sells 216 Shares of Datadog, Inc. (NASDAQ:DDOG)

Cornercap Investment Counsel Inc. cut its stake in shares of Datadog, Inc. (NASDAQ:DDOG) by 3.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,374 shares of the company’s stock after selling 216 shares during the period. Cornercap Investment Counsel Inc.’s holdings in Datadog were worth $768,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in DDOG. Norges Bank acquired a new stake in Datadog during the 4th quarter worth $462,910,000. Jennison Associates LLC raised 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 purchasing an additional 3,005,300 shares during the period. Baillie Gifford & Co. raised its position in shares of Datadog by 15.8% during the fourth quarter. Baillie Gifford & Co. now owns 10,905,133 shares of the company’s stock worth $1,558,234,000 after purchasing an additional 1,484,562 shares during the period. William Blair Investment Management LLC bought a new position in shares of Datadog during the 4th quarter valued at about $173,163,000. Finally, Holocene Advisors LP increased its stake in Datadog by 205.2% during the 3rd quarter. Holocene Advisors LP now owns 1,632,870 shares of the company’s stock worth $187,878,000 after purchasing an additional 1,097,815 shares in the last quarter. Institutional investors own 78.29% of the company’s stock.

Analyst Ratings Changes

DDOG has been the topic of a number of research reports. Guggenheim reaffirmed a “neutral” rating on shares of Datadog in a research note on Wednesday, January 22nd. Wolfe Research cut shares of Datadog from an “outperform” rating to a “peer perform” rating in a research report on Tuesday, February 18th. Needham & Company LLC reiterated a “buy” rating and set a $160.00 target price on shares of Datadog in a report on Tuesday, March 4th. Jefferies Financial Group lifted their price target on Datadog from $155.00 to $170.00 and gave the company a “buy” rating in a research note on Monday, January 6th. Finally, DA Davidson upped their price objective on Datadog from $150.00 to $165.00 and gave the stock a “buy” rating in a research report on Monday, February 10th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, twenty-one have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, Datadog presently has a consensus rating of “Moderate Buy” and a consensus price target of $158.70.

Insider Activity at Datadog

In other news, CTO Alexis Le-Quoc sold 127,105 shares of Datadog 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 completion of the sale, the chief technology officer now directly owns 324,778 shares in the company, valued at approximately $45,861,901.38. The trade was a 28.13 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Shardul Shah sold 7,916 shares of the firm’s stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $142.12, for a total value of $1,125,021.92. Following the transaction, the director now owns 427,785 shares in the company, valued at approximately $60,796,804.20. This trade represents a 1.82 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 601,412 shares of company stock worth $75,444,584 in the last ninety days. 11.78% of the stock is owned by company insiders.

Datadog Price Performance

Shares of DDOG opened at $101.10 on Friday. The firm has a market capitalization of $34.65 billion, a PE ratio of 198.24, a PEG ratio of 44.03 and a beta of 1.22. The company’s 50-day moving average is $123.79 and its 200-day moving average is $130.80. Datadog, Inc. has a fifty-two week low of $98.30 and a fifty-two week high of $170.08.

Datadog (NASDAQ:DDOG) last issued its quarterly earnings data on Thursday, February 13th. The company reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.44 by ($0.31). Datadog had a return on equity of 8.28% and a net margin of 6.85%. Analysts predict that Datadog, Inc. will post 0.34 earnings per share for the current fiscal year.

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.