Commonwealth Equity Services LLC Sells 63,403 Shares of Datadog, Inc. (NASDAQ:DDOG)

Commonwealth Equity Services LLC trimmed its stake in Datadog, Inc. (NASDAQ:DDOG) by 22.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 215,744 shares of the company’s stock after selling 63,403 shares during the quarter. Commonwealth Equity Services LLC owned approximately 0.06% of Datadog worth $30,828,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the stock. ARK Investment Management LLC lifted its position in shares of Datadog by 62.7% in the fourth quarter. ARK Investment Management LLC now owns 127,290 shares of the company’s stock valued at $18,188,000 after buying an additional 49,050 shares during the last quarter. Proficio Capital Partners LLC acquired a new stake in shares of Datadog in the fourth quarter valued at approximately $14,884,000. Baillie Gifford & Co. lifted its position in shares of Datadog by 15.8% in the fourth quarter. Baillie Gifford & Co. now owns 10,905,133 shares of the company’s stock valued at $1,558,234,000 after buying an additional 1,484,562 shares during the last quarter. Y Intercept Hong Kong Ltd lifted its position in shares of Datadog by 140.1% in the fourth quarter. Y Intercept Hong Kong Ltd now owns 53,116 shares of the company’s stock valued at $7,590,000 after buying an additional 30,998 shares during the last quarter. Finally, Atom Investors LP acquired a new stake in shares of Datadog in the third quarter valued at approximately $1,112,000. 78.29% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts recently weighed in on DDOG shares. Guggenheim reissued a “neutral” rating on shares of Datadog in a report on Wednesday, January 22nd. Needham & Company LLC reissued a “buy” rating and set a $160.00 price target on shares of Datadog in a report on Tuesday, March 4th. JMP Securities reissued a “market perform” rating on shares of Datadog in a report on Friday, February 14th. Wolfe Research cut Datadog from an “outperform” rating to a “peer perform” rating in a report on Tuesday, February 18th. Finally, Jefferies Financial Group lifted their price target on Datadog from $155.00 to $170.00 and gave the stock a “buy” rating in a report on Monday, January 6th. One investment 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 issued a strong buy rating to the company. According to data from MarketBeat, Datadog presently has a consensus rating of “Moderate Buy” and a consensus price target of $158.70.

Insider Buying and Selling

In related news, Director Shardul Shah sold 7,916 shares of the business’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $155.25, for a total transaction of $1,228,959.00. Following the sale, the director now owns 435,701 shares in the company, valued at $67,642,580.25. The trade was a 1.78 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, President Amit Agarwal sold 25,000 shares of the business’s stock in a transaction on Thursday, December 26th. The stock was sold at an average price of $147.99, for a total value of $3,699,750.00. Following the sale, the president now owns 195,667 shares in the company, valued at $28,956,759.33. This represents a 11.33 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 653,554 shares of company stock worth $83,328,905 in the last 90 days. Insiders own 11.78% of the company’s stock.

Datadog Stock Performance

Shares of DDOG opened at $101.80 on Friday. Datadog, Inc. has a 52-week low of $98.30 and a 52-week high of $170.08. The business’s fifty day moving average is $130.81 and its 200-day moving average is $131.22. The firm has a market cap of $34.89 billion, a price-to-earnings ratio of 199.61, a PEG ratio of 44.03 and a beta of 1.22.

Datadog (NASDAQ:DDOG) last issued its quarterly earnings data on Thursday, February 13th. The company reported $0.13 earnings per share 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, research analysts forecast that Datadog, Inc. will post 0.34 EPS for the current fiscal year.

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.