Datadog, Inc. (NASDAQ:DDOG) Shares Sold by Insigneo Advisory Services LLC

Insigneo Advisory Services LLC trimmed its holdings in shares of Datadog, Inc. (NASDAQ:DDOG) by 17.9% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,328 shares of the company’s stock after selling 508 shares during the period. Insigneo Advisory Services LLC’s holdings in Datadog were worth $333,000 as of its most recent SEC filing.

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

Datadog Stock Performance

Shares of DDOG stock opened at $91.06 on Friday. The stock’s 50 day simple moving average is $106.75 and its 200 day simple moving average is $128.19. Datadog, Inc. has a twelve month low of $81.63 and a twelve month high of $170.08. The company 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 released its quarterly earnings results 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 net margin of 6.85% and a return on equity of 8.28%. On average, analysts forecast that Datadog, Inc. will post 0.34 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

DDOG has been the subject of several recent analyst reports. Morgan Stanley decreased their target price on shares of Datadog from $143.00 to $115.00 and set an “equal weight” rating for the company in a report on Wednesday. Jefferies Financial Group reiterated a “buy” rating and set a $135.00 price objective (down from $150.00) on shares of Datadog in a research report on Monday, April 7th. Guggenheim restated a “neutral” rating on shares of Datadog in a report on Wednesday, January 22nd. UBS Group lowered their price target on Datadog from $164.00 to $120.00 and set a “buy” rating on the stock in a report on Tuesday. Finally, Truist Financial reduced their price objective on Datadog from $140.00 to $120.00 and set a “hold” rating for the company in a research note on Monday, March 31st. Seven research analysts have rated the stock with a hold rating, twenty-two have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $152.37.

Insider Buying and Selling

In other news, CRO Sean Michael Walters sold 8,454 shares of the stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $102.04, for a total value of $862,646.16. Following the completion of the sale, the executive now directly owns 185,871 shares of the company’s stock, valued at approximately $18,966,276.84. This represents a 4.35 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Olivier Pomel sold 107,365 shares of the business’s stock in a transaction on Monday, April 7th. The stock was sold at an average price of $87.33, for a total transaction of $9,376,185.45. Following the transaction, the chief executive officer now directly owns 563,598 shares in the company, valued at $49,219,013.34. This trade represents a 16.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 548,756 shares of company stock worth $62,219,250 in the last quarter. 11.78% of the stock is currently owned by company insiders.

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.