TrueMark Investments LLC Sells 1,802 Shares of Datadog, Inc. (NASDAQ:DDOG)

TrueMark Investments LLC trimmed its position in Datadog, Inc. (NASDAQ:DDOG) by 12.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 12,836 shares of the company’s stock after selling 1,802 shares during the quarter. TrueMark Investments LLC’s holdings in Datadog were worth $1,834,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in Datadog by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 30,354,229 shares of the company’s stock worth $4,337,316,000 after acquiring an additional 220,527 shares during the last quarter. Baillie Gifford & Co. grew its holdings in shares of Datadog by 15.8% in the fourth quarter. Baillie Gifford & Co. now owns 10,905,133 shares of the company’s stock valued at $1,558,234,000 after purchasing an additional 1,484,562 shares in the last quarter. Jennison Associates LLC increased its position in Datadog by 47.9% in 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 last quarter. Geode Capital Management LLC raised its stake in 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. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in 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. 78.29% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have recently weighed in on DDOG. Guggenheim restated a “neutral” rating on shares of Datadog in a report on Wednesday, January 22nd. Wolfe Research lowered Datadog from an “outperform” rating to a “peer perform” rating in a research report on Tuesday, February 18th. Jefferies Financial Group upped their price objective on Datadog from $155.00 to $170.00 and gave the company a “buy” rating in a research report on Monday, January 6th. DA Davidson lifted their target price on Datadog from $150.00 to $165.00 and gave the stock a “buy” rating in a report on Monday, February 10th. Finally, Stifel Nicolaus downgraded Datadog from a “buy” rating to a “hold” rating and cut their target price for the company from $165.00 to $140.00 in a research report on Wednesday, January 29th. 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 company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $158.70.

Datadog Trading Up 0.4 %

DDOG opened at $110.58 on Wednesday. The firm has a market cap of $37.90 billion, a price-to-earnings ratio of 216.83, a PEG ratio of 44.03 and a beta of 1.22. Datadog, Inc. has a 12 month low of $98.30 and a 12 month high of $170.08. The stock has a fifty day moving average price of $125.84 and a 200-day moving average price of $131.03.

Datadog (NASDAQ:DDOG) last released 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%. On average, equities research analysts forecast that Datadog, Inc. will post 0.34 EPS for the current year.

Insiders Place Their Bets

In related news, CTO Alexis Le-Quoc sold 127,105 shares of the company’s 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 transaction, the chief technology officer now directly owns 371,865 shares of the company’s stock, valued at $37,986,009.75. This represents a 25.47 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, President Amit Agarwal sold 25,000 shares of the firm’s stock in a transaction dated Thursday, December 26th. The stock was sold at an average price of $147.99, for a total value of $3,699,750.00. Following the completion of the sale, the president now directly owns 195,667 shares of the company’s stock, valued at approximately $28,956,759.33. This represents a 11.33 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 626,412 shares of company stock valued at $79,144,334. 11.78% of the stock is currently owned by 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.