EverSource Wealth Advisors LLC Cuts Stock Holdings in Datadog, Inc. (NASDAQ:DDOG)

EverSource Wealth Advisors LLC decreased its stake in shares of Datadog, Inc. (NASDAQ:DDOG) by 75.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 418 shares of the company’s stock after selling 1,269 shares during the period. EverSource Wealth Advisors LLC’s holdings in Datadog were worth $60,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of DDOG. Jennison Associates LLC boosted its position in shares of Datadog by 47.9% during the fourth quarter. Jennison Associates LLC now owns 9,278,648 shares of the company’s stock valued at $1,325,826,000 after buying an additional 3,005,300 shares during the last quarter. Baillie Gifford & Co. boosted its position in shares of Datadog by 15.8% during 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. Holocene Advisors LP boosted its position in shares of Datadog by 205.2% during the third quarter. Holocene Advisors LP now owns 1,632,870 shares of the company’s stock valued at $187,878,000 after buying an additional 1,097,815 shares during the last quarter. Champlain Investment Partners LLC purchased a new position in shares of Datadog during the third quarter valued at approximately $52,561,000. Finally, Eagle Asset Management Inc. boosted its position in shares of Datadog by 72.4% during the third quarter. Eagle Asset Management Inc. now owns 914,776 shares of the company’s stock valued at $113,844,000 after buying an additional 384,121 shares during the last quarter. Hedge funds and other institutional investors own 78.29% of the company’s stock.

Insider Transactions at Datadog

In other news, Director Shardul Shah sold 7,916 shares of the company’s stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $142.12, for a total value of $1,125,021.92. Following the completion of the transaction, the director now directly owns 427,785 shares in the company, valued at approximately $60,796,804.20. This represents a 1.82 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, President Amit Agarwal sold 25,000 shares of the company’s stock in a transaction dated 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 completion of the transaction, the president now owns 195,667 shares of the company’s stock, valued at $28,956,759.33. The trade was a 11.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 626,412 shares of company stock worth $79,144,334. 11.78% of the stock is currently owned by corporate insiders.

Datadog Stock Up 1.5 %

Shares of NASDAQ DDOG opened at $104.43 on Thursday. The firm has a market capitalization of $35.79 billion, a P/E ratio of 204.77, a P/E/G ratio of 44.03 and a beta of 1.22. The stock’s 50-day simple moving average is $128.45 and its two-hundred day simple moving average is $130.99. Datadog, Inc. has a twelve month low of $98.30 and a twelve month high of $170.08.

Datadog (NASDAQ:DDOG) last announced its earnings results 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 anticipate that Datadog, Inc. will post 0.34 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Rosenblatt Securities boosted their price objective on Datadog from $148.00 to $160.00 and gave the stock a “buy” rating in a research report on Wednesday, February 12th. Wells Fargo & Company cut Datadog from an “overweight” rating to an “equal weight” rating and cut their price objective for the stock from $152.00 to $140.00 in a research report on Thursday, February 13th. Barclays cut their price objective on Datadog from $187.00 to $180.00 and set an “overweight” rating on the stock in a research report on Friday, February 14th. Wolfe Research cut Datadog from an “outperform” rating to a “peer perform” rating in a research report on Tuesday, February 18th. Finally, Royal Bank of Canada boosted their price objective on Datadog from $151.00 to $170.00 and gave the stock an “outperform” rating in a research report on Friday, January 3rd. One research analyst has rated the stock with a sell rating, seven have given a hold rating, twenty-one have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, Datadog has an average rating of “Moderate Buy” and an average target price of $158.70.

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.