Legal & General Group Plc Sells 571,450 Shares of Datadog, Inc. (NASDAQ:DDOG)

Legal & General Group Plc reduced its holdings in shares of Datadog, Inc. (NASDAQ:DDOG) by 25.5% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 1,673,105 shares of the company’s stock after selling 571,450 shares during the period. Legal & General Group Plc’s holdings in Datadog were worth $239,070,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of DDOG. Retirement Wealth Solutions LLC bought a new position in shares of Datadog in the fourth quarter worth about $30,000. Avior Wealth Management LLC boosted its position in Datadog by 55.9% in the 4th quarter. Avior Wealth Management LLC now owns 226 shares of the company’s stock valued at $32,000 after buying an additional 81 shares during the period. Quarry LP bought a new position in Datadog in the 3rd quarter worth about $33,000. Kieckhefer Group LLC bought a new position in Datadog in the 4th quarter worth about $43,000. Finally, Summit Securities Group LLC purchased a new position in shares of Datadog during the fourth quarter worth approximately $43,000. Hedge funds and other institutional investors own 78.29% of the company’s stock.

Analysts Set New Price Targets

DDOG has been the topic of several research reports. Jefferies Financial Group restated a “buy” rating and set a $135.00 price objective (down from $150.00) on shares of Datadog in a report on Monday. Morgan Stanley restated an “equal weight” rating and issued a $143.00 price objective on shares of Datadog in a report on Thursday, January 16th. Wolfe Research cut shares of Datadog from an “outperform” rating to a “peer perform” rating in a report on Tuesday, February 18th. Macquarie restated an “outperform” rating and issued a $200.00 price target on shares of Datadog in a report on Tuesday, February 11th. Finally, JMP Securities reiterated a “market perform” rating on shares of Datadog in a research note on Friday, February 14th. One research 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 issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $156.67.

Insider Buying and Selling

In related news, CRO Sean Michael Walters sold 8,454 shares of the firm’s stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $102.04, for a total transaction of $862,646.16. Following the sale, the executive now owns 185,871 shares in the company, valued at approximately $18,966,276.84. This trade represents a 4.35 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CTO Alexis Le-Quoc sold 127,105 shares of the stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $102.15, for a total transaction of $12,983,775.75. Following the sale, the chief technology officer now directly owns 371,865 shares in the company, valued at approximately $37,986,009.75. The trade was a 25.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 449,307 shares of company stock valued at $53,968,086 over the last ninety days. Company insiders own 11.78% of the company’s stock.

Datadog Trading Down 1.4 %

DDOG opened at $87.00 on Wednesday. Datadog, Inc. has a 12-month low of $81.63 and a 12-month high of $170.08. The firm has a 50 day moving average of $115.97 and a two-hundred day moving average of $129.76. The firm has a market capitalization of $29.82 billion, a PE ratio of 170.59, a P/E/G ratio of 44.03 and a beta of 1.20.

Datadog (NASDAQ:DDOG) last posted its quarterly earnings results on Thursday, February 13th. The company reported $0.13 EPS for the quarter, missing the consensus estimate of $0.44 by ($0.31). Datadog had a net margin of 6.85% and a return on equity of 8.28%. As a group, analysts predict that Datadog, Inc. will post 0.34 EPS 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.