Motley Fool Wealth Management LLC Cuts Stock Position in Datadog, Inc. (NASDAQ:DDOG)

Motley Fool Wealth Management LLC lowered its position in shares of Datadog, Inc. (NASDAQ:DDOG) by 6.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 172,450 shares of the company’s stock after selling 12,677 shares during the period. Datadog accounts for approximately 1.3% of Motley Fool Wealth Management LLC’s portfolio, making the stock its 20th largest position. Motley Fool Wealth Management LLC owned 0.05% of Datadog worth $24,523,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Jennison Associates LLC boosted its holdings in Datadog by 47.9% in the 4th quarter. Jennison Associates LLC now owns 9,278,648 shares of the company’s stock valued at $1,325,826,000 after purchasing an additional 3,005,300 shares in the last quarter. Baillie Gifford & Co. increased its position in 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 last quarter. William Blair Investment Management LLC acquired a new position in shares of Datadog in the 4th quarter valued at about $173,163,000. Holocene Advisors LP increased its holdings in Datadog by 205.2% in the 3rd quarter. Holocene Advisors LP now owns 1,632,870 shares of the company’s stock valued at $187,878,000 after purchasing an additional 1,097,815 shares in the last quarter. Finally, Vanguard Group Inc. lifted its holdings 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 buying an additional 220,527 shares in the last quarter. 78.29% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

DDOG has been the subject of several recent research reports. Macquarie reaffirmed an “outperform” rating and set a $200.00 target price on shares of Datadog in a report on Tuesday, February 11th. Cantor Fitzgerald initiated coverage on Datadog in a report on Friday, January 17th. They set an “overweight” rating and a $180.00 target price on the stock. Royal Bank of Canada increased their price objective on Datadog from $151.00 to $170.00 and gave the company an “outperform” rating in a research report on Friday, January 3rd. Jefferies Financial Group raised their price objective on shares of Datadog from $155.00 to $170.00 and gave the stock a “buy” rating in a research note on Monday, January 6th. Finally, Wells Fargo & Company lowered shares of Datadog from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $152.00 to $140.00 in a research report on Thursday, February 13th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, twenty-one have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, Datadog currently has a consensus rating of “Moderate Buy” and a consensus target price of $158.70.

Insider Buying and Selling

In related news, Director Shardul Shah sold 7,916 shares of the stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $142.12, for a total transaction of $1,125,021.92. Following the transaction, the director now owns 427,785 shares of the company’s stock, valued at approximately $60,796,804.20. This represents a 1.82 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CTO Alexis Le-Quoc sold 127,105 shares of the firm’s stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $102.15, for a total transaction of $12,983,775.75. Following the completion of 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 disclosure for this sale can be found here. Insiders sold a total of 626,412 shares of company stock worth $79,144,334 in the last 90 days. Insiders own 11.78% of the company’s stock.

Datadog Stock Up 0.4 %

Shares of DDOG stock opened at $110.58 on Wednesday. Datadog, Inc. has a 52 week low of $98.30 and a 52 week high of $170.08. The company’s fifty day simple moving average is $125.84 and its two-hundred day simple moving average is $131.03. The stock has a market cap of $37.90 billion, a P/E ratio of 216.83, a PEG ratio of 44.03 and a beta of 1.22.

Datadog (NASDAQ:DDOG) last released its earnings results on Thursday, February 13th. The company reported $0.13 earnings per share 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, analysts anticipate 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.