Handelsbanken Fonder AB Reduces Stock Position in Datadog, Inc. (NASDAQ:DDOG)

Handelsbanken Fonder AB trimmed its holdings in shares of Datadog, Inc. (NASDAQ:DDOG) by 1.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 129,875 shares of the company’s stock after selling 1,954 shares during the period. Handelsbanken Fonder AB’s holdings in Datadog were worth $15,764,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of DDOG. Anchor Investment Management LLC acquired a new position in shares of Datadog in the 4th quarter valued at about $25,000. Private Trust Co. NA increased its stake in Datadog by 743.3% during the fourth quarter. Private Trust Co. NA now owns 253 shares of the company’s stock valued at $31,000 after purchasing an additional 223 shares during the last quarter. BluePath Capital Management LLC bought a new stake in Datadog during the third quarter valued at $31,000. AM Squared Ltd bought a new position in shares of Datadog during the third quarter worth about $36,000. Finally, CVA Family Office LLC bought a new position in shares of Datadog during the fourth quarter worth about $53,000. 78.29% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

DDOG has been the subject of several research analyst reports. Mizuho upped their price objective on shares of Datadog from $108.00 to $130.00 and gave the stock a “neutral” rating in a report on Wednesday, February 14th. Needham & Company LLC upped their price objective on shares of Datadog from $125.00 to $165.00 and gave the company a “buy” rating in a research note on Tuesday, February 13th. William Blair reiterated an “outperform” rating on shares of Datadog in a report on Friday, February 16th. Citigroup increased their price objective on Datadog from $125.00 to $150.00 and gave the stock a “buy” rating in a report on Monday, January 22nd. Finally, Wells Fargo & Company upgraded Datadog from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $130.00 to $150.00 in a report on Tuesday. Five investment analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $131.70.

Insider Activity

In other news, CEO Olivier Pomel sold 133,315 shares of the stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $129.82, for a total value of $17,306,953.30. Following the completion of the sale, the chief executive officer now owns 299,075 shares of the company’s stock, valued at approximately $38,825,916.50. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, CEO Olivier Pomel sold 133,315 shares of the stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $129.82, for a total value of $17,306,953.30. Following the sale, the chief executive officer now owns 299,075 shares in the company, valued at approximately $38,825,916.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CTO Alexis Le-Quoc sold 127,105 shares of the stock in a transaction on Monday, February 12th. The shares were sold at an average price of $135.10, for a total value of $17,171,885.50. Following the completion of the sale, the chief technology officer now owns 247,328 shares in the company, valued at approximately $33,414,012.80. The disclosure for this sale can be found here. In the last 90 days, insiders sold 735,984 shares of company stock valued at $94,617,681. 14.97% of the stock is owned by insiders.

Datadog Trading Up 3.6 %

NASDAQ DDOG opened at $126.44 on Wednesday. The company has a market cap of $41.96 billion, a PE ratio of 1,053.67 and a beta of 1.16. The company has a current ratio of 3.17, a quick ratio of 3.17 and a debt-to-equity ratio of 0.37. Datadog, Inc. has a 12 month low of $62.60 and a 12 month high of $138.61. The stock has a 50 day moving average of $125.53 and a 200-day moving average of $116.60.

Datadog (NASDAQ:DDOG) last released its quarterly earnings data on Tuesday, February 13th. The company reported $0.44 EPS for the quarter, beating the consensus estimate of $0.43 by $0.01. The company had revenue of $589.65 million during the quarter, compared to the consensus estimate of $568.73 million. Datadog had a return on equity of 3.79% and a net margin of 2.28%. The firm’s revenue for the quarter was up 25.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.08) EPS. On average, equities research analysts anticipate that Datadog, Inc. will post -0.14 EPS for the current fiscal year.

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.