IFP Advisors Inc Trims Stock Position in Datadog, Inc. (NASDAQ:DDOG)

IFP Advisors Inc decreased its position in shares of Datadog, Inc. (NASDAQ:DDOG) by 41.6% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 9,582 shares of the company’s stock after selling 6,827 shares during the quarter. IFP Advisors Inc’s holdings in Datadog were worth $1,369,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the company. Y Intercept Hong Kong Ltd grew its stake in Datadog by 140.1% during the 4th quarter. Y Intercept Hong Kong Ltd now owns 53,116 shares of the company’s stock worth $7,590,000 after buying an additional 30,998 shares during the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its holdings in shares of Datadog by 2.1% in the fourth quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 62,411 shares of the company’s stock valued at $8,918,000 after acquiring an additional 1,300 shares during the period. Howard Capital Management Inc. grew its position in shares of Datadog by 3.1% during the fourth quarter. Howard Capital Management Inc. now owns 6,727 shares of the company’s stock worth $961,000 after acquiring an additional 202 shares during the last quarter. Valliance Asset Management Ltd acquired a new position in shares of Datadog in the 4th quarter valued at $3,572,000. Finally, Compass Capital Corp MA ADV purchased a new stake in Datadog in the 4th quarter valued at $257,000. Hedge funds and other institutional investors own 78.29% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on DDOG shares. Mizuho raised their price objective on shares of Datadog from $155.00 to $170.00 and gave the stock an “outperform” rating in a research report on Friday, December 13th. Royal Bank of Canada raised their price target on Datadog from $151.00 to $170.00 and gave the stock an “outperform” rating in a report on Friday, January 3rd. Loop Capital boosted their price target on Datadog from $160.00 to $200.00 and gave the company a “buy” rating in a research report on Monday, December 23rd. Robert W. Baird increased their price objective on Datadog from $140.00 to $150.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. Finally, Cantor Fitzgerald began coverage on Datadog in a report on Friday, January 17th. They issued an “overweight” rating and a $180.00 target price on the stock. One research 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 given a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $158.70.

Insider Buying and Selling

In other Datadog news, CEO Olivier Pomel sold 178,723 shares of the firm’s stock in a transaction on Monday, December 9th. The stock was sold at an average price of $161.28, for a total transaction of $28,824,445.44. Following the completion of the transaction, the chief executive officer now owns 379,693 shares of the company’s stock, valued at approximately $61,236,887.04. This trade represents a 32.01 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CTO Alexis Le-Quoc sold 127,105 shares of the company’s stock in a transaction on Wednesday, January 8th. The shares were sold at an average price of $141.21, for a total value of $17,948,497.05. Following the completion of the sale, the chief technology officer now owns 324,778 shares in the company, valued at $45,861,901.38. This represents a 28.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 556,674 shares of company stock worth $82,904,025 in the last ninety days. Insiders own 11.78% of the company’s stock.

Datadog Stock Down 1.4 %

Shares of DDOG stock opened at $113.37 on Thursday. Datadog, Inc. has a fifty-two week low of $98.80 and a fifty-two week high of $170.08. The business has a fifty day simple moving average of $139.84 and a 200-day simple moving average of $131.84. The stock has a market cap of $38.51 billion, a P/E ratio of 222.30, a P/E/G ratio of 44.03 and a beta of 1.15.

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

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.