Allspring Global Investments Holdings LLC Sells 309,950 Shares of Datadog, Inc. (NASDAQ:DDOG)

Allspring Global Investments Holdings LLC lessened its holdings in Datadog, Inc. (NASDAQ:DDOG) by 29.4% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 744,075 shares of the company’s stock after selling 309,950 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Datadog were worth $106,833,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in DDOG. Spire Wealth Management boosted its stake in Datadog by 21.4% in the 4th quarter. Spire Wealth Management now owns 453 shares of the company’s stock valued at $65,000 after buying an additional 80 shares in the last quarter. Avior Wealth Management LLC lifted its holdings in shares of Datadog by 55.9% during the fourth quarter. Avior Wealth Management LLC now owns 226 shares of the company’s stock valued at $32,000 after acquiring an additional 81 shares during the period. Pathstone Holdings LLC boosted its stake in shares of Datadog by 0.4% in the 3rd quarter. Pathstone Holdings LLC now owns 23,152 shares of the company’s stock valued at $2,664,000 after purchasing an additional 91 shares in the last quarter. GAMMA Investing LLC grew its holdings in shares of Datadog by 19.5% in the 3rd quarter. GAMMA Investing LLC now owns 563 shares of the company’s stock worth $65,000 after purchasing an additional 92 shares during the last quarter. Finally, Parsons Capital Management Inc. RI increased its position in shares of Datadog by 2.0% during the 4th quarter. Parsons Capital Management Inc. RI now owns 4,943 shares of the company’s stock worth $706,000 after purchasing an additional 96 shares in the last quarter. Institutional investors and hedge funds own 78.29% of the company’s stock.

Datadog Stock Performance

DDOG opened at $148.09 on Thursday. The firm’s fifty day moving average is $146.75 and its two-hundred day moving average is $130.77. The firm has a market cap of $50.31 billion, a PE ratio of 279.42, a price-to-earnings-growth ratio of 16.83 and a beta of 1.15. Datadog, Inc. has a twelve month low of $98.80 and a twelve month high of $170.08.

Analyst Upgrades and Downgrades

DDOG has been the topic of several research analyst reports. Barclays upped their price objective on shares of Datadog from $155.00 to $187.00 and gave the stock an “overweight” rating in a research note on Friday, December 6th. Jefferies Financial Group increased their price target on Datadog from $155.00 to $170.00 and gave the stock a “buy” rating in a research report on Monday, January 6th. Wedbush upgraded Datadog from a “buy” rating to a “strong-buy” rating in a research report on Thursday, October 17th. BMO Capital Markets increased their target price on Datadog from $135.00 to $145.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. Finally, Monness Crespi & Hardt raised Datadog from a “neutral” rating to a “buy” rating and set a $155.00 price target for the company in a report on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, twenty-five have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $158.52.

Insider Buying and Selling

In related news, President Amit Agarwal sold 150,000 shares of the firm’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $126.03, for a total transaction of $18,904,500.00. Following the sale, the president now directly owns 214,275 shares in the company, valued at $27,005,078.25. This trade represents a 41.18 % decrease in their ownership of the stock. The sale was disclosed in a legal 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 dated Wednesday, December 4th. The stock was sold at an average price of $158.04, for a total value of $393,203.52. Following the transaction, the general counsel now 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. In the last quarter, insiders have sold 777,586 shares of company stock valued at $111,444,979. 11.78% of the stock is owned by company insiders.

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.