Ardmore Road Asset Management LP Decreases Stock Holdings in Datadog, Inc. (NASDAQ:DDOG)

Ardmore Road Asset Management LP lessened its stake in shares of Datadog, Inc. (NASDAQ:DDOG) by 33.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 100,000 shares of the company’s stock after selling 50,000 shares during the quarter. Datadog comprises about 2.1% of Ardmore Road Asset Management LP’s investment portfolio, making the stock its 23rd biggest holding. Ardmore Road Asset Management LP’s holdings in Datadog were worth $14,289,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. Townsquare Capital LLC grew its position in Datadog by 50.5% in the 3rd quarter. Townsquare Capital LLC now owns 2,871 shares of the company’s stock worth $330,000 after purchasing an additional 963 shares during the period. CreativeOne Wealth LLC bought a new stake in shares of Datadog in the third quarter worth $302,000. Rockefeller Capital Management L.P. increased its position in Datadog by 3.5% during the third quarter. Rockefeller Capital Management L.P. now owns 15,172 shares of the company’s stock valued at $1,746,000 after acquiring an additional 511 shares during the last quarter. Captrust Financial Advisors lifted its holdings in Datadog by 16.5% in the third quarter. Captrust Financial Advisors now owns 9,513 shares of the company’s stock valued at $1,095,000 after acquiring an additional 1,349 shares during the period. Finally, True Wealth Design LLC boosted its position in Datadog by 12,000.0% in the third quarter. True Wealth Design LLC now owns 242 shares of the company’s stock worth $28,000 after purchasing an additional 240 shares during the last quarter. 78.29% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have recently weighed in on DDOG. JMP Securities reiterated a “market perform” rating on shares of Datadog in a research note on Friday, February 14th. Stifel Nicolaus cut Datadog from a “buy” rating to a “hold” rating and decreased their target price for the stock from $165.00 to $140.00 in a report on Wednesday, January 29th. Macquarie reiterated an “outperform” rating and set a $200.00 target price on shares of Datadog in a research report on Tuesday, February 11th. Loop Capital upped their price target on Datadog from $160.00 to $200.00 and gave the stock a “buy” rating in a research report on Monday, December 23rd. Finally, Morgan Stanley reaffirmed an “equal weight” rating and set a $143.00 price objective on shares of Datadog in a research report on Thursday, January 16th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, twenty-one have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $157.22.

Datadog Price Performance

Shares of DDOG stock opened at $101.06 on Wednesday. The company’s 50-day simple moving average is $122.26 and its two-hundred day simple moving average is $130.82. Datadog, Inc. has a one year low of $96.63 and a one year high of $170.08. The company has a market capitalization of $34.64 billion, a P/E ratio of 198.16, a P/E/G ratio of 44.03 and a beta of 1.22.

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

Insider Buying and Selling at Datadog

In other Datadog news, Director Shardul Shah sold 7,916 shares of the stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $142.12, for a total transaction of $1,125,021.92. Following the sale, the director now owns 427,785 shares of the company’s stock, valued at approximately $60,796,804.20. This trade represents a 1.82 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CTO Alexis Le-Quoc sold 127,105 shares of the business’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $142.78, for a total value of $18,148,051.90. Following the completion of the transaction, the chief technology officer now directly owns 324,778 shares of the company’s stock, valued at approximately $46,371,802.84. The trade was a 28.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 601,412 shares of company stock valued at $75,444,584. Company insiders own 11.78% of the company’s stock.

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.