Kayne Anderson Rudnick Investment Management LLC Sells 13,873 Shares of Datadog, Inc. (NASDAQ:DDOG)

Kayne Anderson Rudnick Investment Management LLC trimmed its holdings in shares of Datadog, Inc. (NASDAQ:DDOG) by 4.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 310,845 shares of the company’s stock after selling 13,873 shares during the quarter. Kayne Anderson Rudnick Investment Management LLC owned approximately 0.09% of Datadog worth $44,417,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of DDOG. Retirement Wealth Solutions LLC purchased a new position in shares of Datadog in the 4th quarter valued at $30,000. Avior Wealth Management LLC boosted its position in Datadog by 55.9% during the fourth 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. Kieckhefer Group LLC purchased a new position in Datadog in the fourth quarter valued at about $43,000. Summit Securities Group LLC bought a new position in Datadog in the fourth quarter worth about $43,000. Finally, Friedenthal Financial bought a new position in Datadog in the fourth quarter worth about $54,000. Institutional investors own 78.29% of the company’s stock.

Insider Activity

In related news, CTO Alexis Le-Quoc sold 127,105 shares of the company’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $142.78, for a total transaction of $18,148,051.90. Following the completion of the sale, the chief technology officer now owns 324,778 shares of the company’s stock, valued at approximately $46,371,802.84. This represents a 28.13 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Amit Agarwal sold 25,000 shares of the stock in a transaction that occurred on Wednesday, January 22nd. The shares were sold at an average price of $139.47, for a total value of $3,486,750.00. Following the completion of the sale, the director now directly owns 195,667 shares of the company’s stock, valued at approximately $27,289,676.49. This represents a 11.33 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 548,756 shares of company stock worth $62,219,250 over the last 90 days. 11.78% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on DDOG. Morgan Stanley cut their price objective on shares of Datadog from $143.00 to $115.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 16th. Cantor Fitzgerald began coverage on shares of Datadog in a report on Friday, January 17th. They issued an “overweight” rating and a $180.00 price target on the stock. Jefferies Financial Group reiterated a “buy” rating and set a $135.00 price objective (down previously from $150.00) on shares of Datadog in a report on Monday, April 7th. Guggenheim restated a “neutral” rating on shares of Datadog in a research note on Wednesday, January 22nd. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $160.00 price target on shares of Datadog in a research note on Tuesday, March 4th. Seven analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $152.37.

Datadog Trading Down 0.9 %

Shares of DDOG stock opened at $91.06 on Monday. Datadog, Inc. has a twelve month low of $81.63 and a twelve month high of $170.08. The stock has a 50 day moving average of $106.75 and a 200 day moving average of $128.35. The stock has a market cap of $31.21 billion, a P/E ratio of 178.54, a P/E/G ratio of 44.03 and a beta of 1.20.

Datadog (NASDAQ:DDOG) last posted its earnings results on Thursday, February 13th. The company reported $0.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.44 by ($0.31). Datadog had a return on equity of 8.28% and a net margin of 6.85%. On average, research analysts predict that Datadog, Inc. will post 0.34 earnings per share for the current fiscal year.

Datadog Company 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.