Datadog, Inc. (NASDAQ:DDOG) Shares Sold by WCM Investment Management LLC

WCM Investment Management LLC trimmed its position in Datadog, Inc. (NASDAQ:DDOG) by 1.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,291,938 shares of the company’s stock after selling 70,360 shares during the quarter. Datadog makes up 1.5% of WCM Investment Management LLC’s investment portfolio, making the stock its 29th largest position. WCM Investment Management LLC’s holdings in Datadog were worth $618,769,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Retirement Wealth Solutions LLC acquired a new stake in shares of Datadog in the 4th quarter valued at $30,000. Avior Wealth Management LLC raised 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 purchasing an additional 81 shares in the last quarter. True Wealth Design LLC grew its position in shares of Datadog by 12,000.0% in the 3rd quarter. True Wealth Design LLC now owns 242 shares of the company’s stock valued at $28,000 after buying an additional 240 shares during the last quarter. Meeder Asset Management Inc. grew its position in shares of Datadog by 66.5% in the 3rd quarter. Meeder Asset Management Inc. now owns 288 shares of the company’s stock valued at $33,000 after buying an additional 115 shares during the last quarter. Finally, Quarry LP purchased a new position in shares of Datadog in the 3rd quarter valued at $33,000. 78.29% of the stock is currently owned by institutional investors and hedge funds.

Datadog Trading Down 1.5 %

Shares of DDOG opened at $142.65 on Friday. The stock has a market cap of $48.46 billion, a P/E ratio of 269.16, a PEG ratio of 16.83 and a beta of 1.15. The company has a 50-day moving average of $147.06 and a two-hundred day moving average of $130.25. Datadog, Inc. has a 12-month low of $98.80 and a 12-month high of $170.08.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on DDOG shares. UBS Group reaffirmed an “underperform” rating on shares of Datadog in a research report on Friday, October 18th. Macquarie started coverage on shares of Datadog in a research report on Thursday, December 12th. They issued an “outperform” rating and a $200.00 target price on the stock. Stifel Nicolaus downgraded shares of Datadog from a “buy” rating to a “hold” rating and dropped their target price for the company from $165.00 to $140.00 in a research report on Wednesday, January 29th. Monness Crespi & Hardt raised shares of Datadog from a “neutral” rating to a “buy” rating and set a $155.00 target price on the stock in a research report on Thursday, November 7th. Finally, Cantor Fitzgerald initiated coverage on shares of Datadog in a research report on Friday, January 17th. They issued an “overweight” rating and a $180.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, twenty-five have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, Datadog has a consensus rating of “Moderate Buy” and an average target price of $157.59.

Insiders Place Their Bets

In other news, CTO Alexis Le-Quoc sold 127,105 shares of the business’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $142.78, for a total value of $18,148,051.90. Following the completion of the transaction, the chief technology officer now owns 324,778 shares of the company’s stock, valued at $46,371,802.84. The trade was a 28.13 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Matthew Jacobson sold 3,393 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $125.03, for a total transaction of $424,226.79. Following the completion of the transaction, the director now directly owns 695,086 shares of the company’s stock, valued at approximately $86,906,602.58. This represents a 0.49 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 780,979 shares of company stock worth $111,869,206. Insiders own 11.78% of the company’s stock.

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.