Advisory Services Network LLC Reduces Stake in Datadog, Inc. (NASDAQ:DDOG)

Advisory Services Network LLC cut its stake in shares of Datadog, Inc. (NASDAQ:DDOG) by 88.2% during the fourth quarter, HoldingsChannel reports. The firm owned 2,599 shares of the company’s stock after selling 19,462 shares during the quarter. Advisory Services Network LLC’s holdings in Datadog were worth $371,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Proficio Capital Partners LLC bought a new stake in Datadog in the fourth quarter worth about $14,884,000. ARK Investment Management LLC raised its holdings in shares of Datadog by 62.7% in the fourth quarter. ARK Investment Management LLC now owns 127,290 shares of the company’s stock worth $18,188,000 after buying an additional 49,050 shares during the period. Y Intercept Hong Kong Ltd lifted its stake in shares of Datadog by 140.1% during the 4th quarter. Y Intercept Hong Kong Ltd now owns 53,116 shares of the company’s stock worth $7,590,000 after acquiring an additional 30,998 shares during the last quarter. Baillie Gifford & Co. boosted its holdings in Datadog by 15.8% during the 4th quarter. Baillie Gifford & Co. now owns 10,905,133 shares of the company’s stock valued at $1,558,234,000 after acquiring an additional 1,484,562 shares during the period. Finally, Cullen Frost Bankers Inc. grew its position in Datadog by 3.5% in the 4th quarter. Cullen Frost Bankers Inc. now owns 72,489 shares of the company’s stock valued at $10,358,000 after acquiring an additional 2,451 shares during the last quarter. 78.29% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, Director Amit Agarwal sold 25,000 shares of the stock in a transaction on Wednesday, January 22nd. The shares were sold at an average price of $139.47, for a total value of $3,486,750.00. Following the sale, the director now owns 195,667 shares in the company, valued at $27,289,676.49. This represents a 11.33 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Olivier Pomel sold 11,195 shares of the firm’s stock in a transaction on Monday, January 27th. The stock was sold at an average price of $139.86, for a total transaction of $1,565,732.70. Following the transaction, the chief executive officer now directly owns 379,693 shares of the company’s stock, valued at approximately $53,103,862.98. This trade represents a 2.86 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 548,756 shares of company stock worth $62,219,250. 11.78% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

DDOG has been the subject of a number of recent analyst reports. Barclays lowered their target price on shares of Datadog from $187.00 to $180.00 and set an “overweight” rating for the company in a research note on Friday, February 14th. Cantor Fitzgerald initiated coverage on shares of Datadog in a research note on Friday, January 17th. They issued an “overweight” rating and a $180.00 target price on the stock. Wells Fargo & Company downgraded shares of Datadog from an “overweight” rating to an “equal weight” rating and decreased their price target for the company from $152.00 to $140.00 in a research note on Thursday, February 13th. Royal Bank of Canada boosted their price target on Datadog from $151.00 to $170.00 and gave the company an “outperform” rating in a report on Friday, January 3rd. Finally, Guggenheim reaffirmed a “neutral” rating on shares of Datadog in a research report on Wednesday, January 22nd. Seven equities research analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, Datadog has a consensus rating of “Moderate Buy” and an average target price of $152.37.

Datadog Trading Down 0.9 %

Shares of Datadog stock opened at $91.06 on Friday. Datadog, Inc. has a 12-month low of $81.63 and a 12-month high of $170.08. The firm’s 50 day simple moving average is $107.84 and its two-hundred day simple moving average is $128.35. The firm has a market capitalization of $31.21 billion, a price-to-earnings ratio of 178.54, a PEG ratio of 44.03 and a beta of 1.20.

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

About Datadog

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.