Neuberger Berman Group LLC Sells 330,440 Shares of Datadog, Inc. (NASDAQ:DDOG)

Neuberger Berman Group LLC cut its stake in Datadog, Inc. (NASDAQ:DDOG) by 30.6% in the 4th quarter, Holdings Channel.com reports. The firm owned 747,710 shares of the company’s stock after selling 330,440 shares during the quarter. Neuberger Berman Group LLC’s holdings in Datadog were worth $106,840,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in DDOG. Retirement Wealth Solutions LLC bought a new position in Datadog in the 4th quarter worth about $30,000. Avior Wealth Management LLC boosted its holdings in Datadog by 55.9% during the 4th quarter. Avior Wealth Management LLC now owns 226 shares of the company’s stock valued at $32,000 after acquiring an additional 81 shares during the period. Quarry LP purchased a new stake in Datadog during the 3rd quarter valued at about $33,000. Kieckhefer Group LLC purchased a new stake in Datadog during the 4th quarter valued at about $43,000. Finally, Summit Securities Group LLC purchased a new stake in Datadog during the 4th quarter valued at about $43,000. 78.29% of the stock is currently owned by hedge funds and other institutional investors.

Datadog Stock Performance

Shares of NASDAQ DDOG opened at $97.44 on Thursday. The firm has a market capitalization of $33.40 billion, a price-to-earnings ratio of 191.06, a PEG ratio of 44.03 and a beta of 1.20. The stock has a 50 day moving average price of $114.16 and a 200 day moving average price of $129.41. Datadog, Inc. has a 52-week low of $81.63 and a 52-week high of $170.08.

Datadog (NASDAQ:DDOG) last announced its earnings results on Thursday, February 13th. The company reported $0.13 earnings per share (EPS) 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%. Analysts forecast that Datadog, Inc. will post 0.34 earnings per share for the current year.

Analyst Upgrades and Downgrades

DDOG has been the subject of several research analyst reports. Wolfe Research cut Datadog from an “outperform” rating to a “peer perform” rating in a report on Tuesday, February 18th. Macquarie restated an “outperform” rating and issued a $200.00 target price on shares of Datadog in a research note on Tuesday, February 11th. Loop Capital raised their target price on Datadog from $160.00 to $200.00 and gave the company a “buy” rating in a research note on Monday, December 23rd. Stifel Nicolaus lowered Datadog from a “buy” rating to a “hold” rating and reduced their price objective for the company from $165.00 to $140.00 in a research report on Wednesday, January 29th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $160.00 price objective on shares of Datadog in a research report on Tuesday, March 4th. 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 assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $156.67.

Insider Buying and Selling at Datadog

In other news, Director Shardul Shah sold 7,916 shares of the firm’s stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $142.12, for a total transaction of $1,125,021.92. Following the sale, the director now owns 427,785 shares of the company’s stock, valued at $60,796,804.20. This trade represents a 1.82 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Olivier Pomel sold 107,365 shares of Datadog stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $109.56, for a total transaction of $11,762,909.40. Following the transaction, the chief executive officer now directly owns 435,793 shares of the company’s stock, valued at approximately $47,745,481.08. This trade represents a 19.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 556,672 shares of company stock worth $63,344,272. 11.78% of the stock is currently owned by insiders.

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.