Peapack Gladstone Financial Corp Cuts Stake in Datadog, Inc. (NASDAQ:DDOG)

Peapack Gladstone Financial Corp lessened its position in Datadog, Inc. (NASDAQ:DDOG) by 7.8% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 4,740 shares of the company’s stock after selling 400 shares during the period. Peapack Gladstone Financial Corp’s holdings in Datadog were worth $677,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Allworth Financial LP lifted its position in Datadog by 7.7% in the fourth quarter. Allworth Financial LP now owns 1,043 shares of the company’s stock valued at $146,000 after purchasing an additional 75 shares during the period. Spire Wealth Management raised its stake in shares of Datadog by 21.4% during the 4th quarter. Spire Wealth Management now owns 453 shares of the company’s stock worth $65,000 after buying an additional 80 shares in the last quarter. Avior Wealth Management LLC lifted its holdings in shares of Datadog by 55.9% in the 4th quarter. Avior Wealth Management LLC now owns 226 shares of the company’s stock valued at $32,000 after buying an additional 81 shares during the period. Farther Finance Advisors LLC boosted its stake in shares of Datadog by 5.2% in the fourth quarter. Farther Finance Advisors LLC now owns 1,853 shares of the company’s stock valued at $265,000 after buying an additional 92 shares in the last quarter. Finally, Parkside Financial Bank & Trust boosted its stake in shares of Datadog by 16.5% in the fourth quarter. Parkside Financial Bank & Trust now owns 663 shares of the company’s stock valued at $95,000 after buying an additional 94 shares in the last quarter. Hedge funds and other institutional investors own 78.29% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Truist Financial reduced their target price on Datadog from $140.00 to $120.00 and set a “hold” rating for the company in a report on Monday, March 31st. Loop Capital raised their price objective on shares of Datadog from $160.00 to $200.00 and gave the company a “buy” rating in a research note on Monday, December 23rd. Wells Fargo & Company downgraded shares of Datadog from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $152.00 to $140.00 in a report on Thursday, February 13th. Morgan Stanley reaffirmed an “equal weight” rating and issued a $143.00 target price on shares of Datadog in a report on Thursday, January 16th. Finally, Guggenheim reissued a “neutral” rating on shares of Datadog in a research note on Wednesday, January 22nd. One equities research 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 given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $156.67.

Datadog Stock Down 1.4 %

DDOG stock opened at $87.00 on Wednesday. The stock has a market capitalization of $29.82 billion, a price-to-earnings ratio of 170.59, a price-to-earnings-growth ratio of 44.03 and a beta of 1.20. Datadog, Inc. has a 52-week low of $81.63 and a 52-week high of $170.08. The stock’s fifty day simple moving average is $115.97 and its 200-day simple moving average is $129.76.

Datadog (NASDAQ:DDOG) last issued its quarterly 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%. As a group, analysts anticipate that Datadog, Inc. will post 0.34 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Amit Agarwal sold 25,000 shares of the company’s stock in a transaction on Wednesday, January 22nd. The stock was sold at an average price of $139.47, for a total transaction of $3,486,750.00. Following the completion of the sale, the director now directly owns 195,667 shares in the company, valued at $27,289,676.49. This represents a 11.33 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CTO Alexis Le-Quoc sold 127,105 shares of the stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $102.15, for a total value of $12,983,775.75. Following the completion of the transaction, the chief technology officer now directly owns 371,865 shares in the company, valued at $37,986,009.75. This trade represents a 25.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 449,307 shares of company stock valued at $53,968,086. Insiders own 11.78% of the company’s stock.

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.