Datadog, Inc. (NASDAQ:DDOG) Shares Sold by CIBC Private Wealth Group LLC

CIBC Private Wealth Group LLC decreased its stake in shares of Datadog, Inc. (NASDAQ:DDOG) by 2.5% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 577,679 shares of the company’s stock after selling 14,550 shares during the quarter. CIBC Private Wealth Group LLC’s holdings in Datadog were worth $81,961,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Townsquare Capital LLC boosted its position in shares of Datadog by 50.5% during the 3rd quarter. Townsquare Capital LLC now owns 2,871 shares of the company’s stock valued at $330,000 after acquiring an additional 963 shares during the last quarter. Freedom Investment Management Inc. purchased a new stake in shares of Datadog in the 3rd quarter valued at approximately $419,000. CreativeOne Wealth LLC acquired a new stake in shares of Datadog during the 3rd quarter worth approximately $302,000. Rockefeller Capital Management L.P. increased its holdings in shares of Datadog by 3.5% during the 3rd quarter. Rockefeller Capital Management L.P. now owns 15,172 shares of the company’s stock worth $1,746,000 after buying an additional 511 shares during the last quarter. Finally, Captrust Financial Advisors lifted its holdings in Datadog by 16.5% in the third quarter. Captrust Financial Advisors now owns 9,513 shares of the company’s stock valued at $1,095,000 after acquiring an additional 1,349 shares during the last quarter. 78.29% of the stock is currently owned by hedge funds and other institutional investors.

Datadog Price Performance

Datadog stock opened at $101.10 on Monday. The business has a 50 day simple moving average of $123.79 and a 200-day simple moving average of $130.95. Datadog, Inc. has a 12 month low of $98.30 and a 12 month high of $170.08. The stock has a market capitalization of $34.65 billion, a PE ratio of 198.24, a price-to-earnings-growth ratio of 44.03 and a beta of 1.22.

Datadog (NASDAQ:DDOG) last announced its quarterly earnings data on Thursday, February 13th. The company reported $0.13 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%. As a group, equities research analysts anticipate that Datadog, Inc. will post 0.34 EPS for the current year.

Insider Buying and Selling

In other Datadog news, Director Amit Agarwal sold 25,000 shares of the business’s stock in a transaction on Wednesday, January 8th. The shares were sold at an average price of $141.12, for a total transaction of $3,528,000.00. Following the sale, the director now directly owns 195,667 shares in the company, valued at approximately $27,612,527.04. The trade was a 11.33 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Alexis Le-Quoc sold 127,105 shares of the stock in a transaction dated 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 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 601,412 shares of company stock valued at $75,444,584 over the last ninety days. Corporate insiders own 11.78% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on DDOG shares. Rosenblatt Securities raised their target price on Datadog from $148.00 to $160.00 and gave the stock a “buy” rating in a research note on Wednesday, February 12th. Mizuho boosted their price objective on shares of Datadog from $155.00 to $170.00 and gave the company an “outperform” rating in a report on Friday, December 13th. Jefferies Financial Group increased their target price 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. Cantor Fitzgerald assumed coverage on shares of Datadog in a research note on Friday, January 17th. They issued an “overweight” rating and a $180.00 price target on the stock. Finally, JMP Securities reaffirmed a “market perform” rating on shares of Datadog in a research report on Friday, February 14th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, twenty-one have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $158.70.

Datadog Company 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.