Pier 88 Investment Partners LLC Lowers Holdings in Datadog, Inc. (NASDAQ:DDOG)

Pier 88 Investment Partners LLC lowered its holdings in shares of Datadog, Inc. (NASDAQ:DDOG) by 4.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,900 shares of the company’s stock after selling 370 shares during the quarter. Pier 88 Investment Partners LLC’s holdings in Datadog were worth $1,272,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in DDOG. Vanguard Group Inc. raised its position in shares of Datadog by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 30,354,229 shares of the company’s stock valued at $4,337,316,000 after buying an additional 220,527 shares during the last quarter. Baillie Gifford & Co. increased its holdings in Datadog by 15.8% in the 4th quarter. Baillie Gifford & Co. now owns 10,905,133 shares of the company’s stock valued at $1,558,234,000 after acquiring an additional 1,484,562 shares during the last quarter. Jennison Associates LLC lifted its stake in Datadog by 47.9% in the 4th quarter. Jennison Associates LLC now owns 9,278,648 shares of the company’s stock worth $1,325,826,000 after purchasing an additional 3,005,300 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Datadog by 2.5% during the 3rd quarter. Geode Capital Management LLC now owns 5,185,557 shares of the company’s stock valued at $595,438,000 after purchasing an additional 125,457 shares during the last quarter. Finally, Norges Bank purchased a new position in shares of Datadog during the fourth quarter valued at about $462,910,000. Institutional investors own 78.29% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on DDOG. Citigroup dropped their price target on Datadog from $170.00 to $165.00 and set a “buy” rating for the company in a research note on Friday, February 14th. Morgan Stanley reissued an “equal weight” rating and issued a $143.00 target price on shares of Datadog in a report on Thursday, January 16th. JMP Securities reaffirmed a “market perform” rating on shares of Datadog in a research note on Friday, February 14th. Jefferies Financial Group lifted their price objective on shares of Datadog from $155.00 to $170.00 and gave the stock a “buy” rating in a research note on Monday, January 6th. Finally, Rosenblatt Securities upped their target price on shares of Datadog from $148.00 to $160.00 and gave the company a “buy” rating in a research report on Wednesday, February 12th. One analyst has rated the stock with a sell rating, seven have given a hold rating, twenty-one have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $158.70.

Insider Buying and Selling

In other news, CTO Alexis Le-Quoc sold 127,105 shares of the business’s stock in a transaction dated Wednesday, January 8th. The stock was sold at an average price of $141.21, for a total transaction of $17,948,497.05. Following the sale, the chief technology officer now owns 324,778 shares in the company, valued at approximately $45,861,901.38. The trade was a 28.13 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Amit Agarwal sold 25,000 shares of the company’s stock in a transaction dated Wednesday, January 8th. The shares were sold at an average price of $141.12, for a total transaction of $3,528,000.00. Following the transaction, the director now owns 195,667 shares in the company, valued at approximately $27,612,527.04. This trade represents a 11.33 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 601,412 shares of company stock worth $75,444,584 in the last 90 days. 11.78% of the stock is owned by corporate insiders.

Datadog Stock Down 3.6 %

Shares of DDOG stock opened at $101.10 on Monday. The firm has a market cap of $34.65 billion, a price-to-earnings ratio of 198.24, a PEG ratio of 44.03 and a beta of 1.22. Datadog, Inc. has a 52-week low of $98.30 and a 52-week high of $170.08. The company’s 50 day moving average is $123.79 and its 200 day moving average is $130.95.

Datadog (NASDAQ:DDOG) last announced its quarterly earnings results on Thursday, February 13th. The company reported $0.13 earnings per share (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%. Analysts anticipate 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.