Artisan Partners Limited Partnership Sells 577,671 Shares of Datadog, Inc. (NASDAQ:DDOG)

Artisan Partners Limited Partnership decreased its holdings in shares of Datadog, Inc. (NASDAQ:DDOG) by 25.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,648,469 shares of the company’s stock after selling 577,671 shares during the quarter. Artisan Partners Limited Partnership owned about 0.49% of Datadog worth $235,550,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Murphy & Mullick Capital Management Corp bought a new stake in shares of Datadog in the fourth quarter valued at approximately $95,000. Mitsubishi UFJ Trust & Banking Corp raised its stake in Datadog by 7.5% during the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 475,391 shares of the company’s stock valued at $67,929,000 after purchasing an additional 33,264 shares during the last quarter. Keystone Investors PTE Ltd. boosted its holdings in Datadog by 11.2% in the 4th quarter. Keystone Investors PTE Ltd. now owns 171,378 shares of the company’s stock valued at $24,488,000 after purchasing an additional 17,244 shares during the period. EFG Asset Management North America Corp. grew its position in Datadog by 4.0% in the 4th quarter. EFG Asset Management North America Corp. now owns 28,871 shares of the company’s stock worth $4,124,000 after purchasing an additional 1,105 shares during the last quarter. Finally, Congress Wealth Management LLC DE bought a new position in shares of Datadog during the 4th quarter worth about $315,000. Institutional investors and hedge funds own 78.29% of the company’s stock.

Datadog Trading Down 2.4 %

DDOG opened at $107.97 on Thursday. Datadog, Inc. has a 12 month low of $98.30 and a 12 month high of $170.08. The company has a market cap of $37.01 billion, a PE ratio of 211.71, a price-to-earnings-growth ratio of 44.03 and a beta of 1.22. The company has a 50 day moving average of $125.18 and a 200 day moving average of $130.87.

Datadog (NASDAQ:DDOG) last posted its quarterly earnings results on Thursday, February 13th. The company reported $0.13 EPS 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%. Research analysts forecast that Datadog, Inc. will post 0.34 earnings per share for the current fiscal year.

Insider Activity

In related news, CTO Alexis Le-Quoc sold 127,105 shares of the stock in a transaction on Wednesday, January 8th. The stock was sold at an average price of $141.21, for a total value 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. This trade represents a 28.13 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Shardul Shah sold 7,916 shares of the business’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 transaction, the director now owns 427,785 shares of the company’s stock, valued at approximately $60,796,804.20. The trade was a 1.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 601,412 shares of company stock worth $75,444,584 over the last ninety days. Company insiders own 11.78% of the company’s stock.

Wall Street Analyst Weigh In

DDOG has been the subject of several research reports. Citigroup reduced their target price on shares of Datadog from $170.00 to $165.00 and set a “buy” rating for the company in a research note on Friday, February 14th. Mizuho raised their price objective on Datadog from $155.00 to $170.00 and gave the stock an “outperform” rating in a research report on Friday, December 13th. Wells Fargo & Company cut Datadog from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $152.00 to $140.00 in a research report on Thursday, February 13th. Royal Bank of Canada upped their target price on Datadog from $151.00 to $170.00 and gave the company an “outperform” rating in a research note on Friday, January 3rd. Finally, DA Davidson lifted their price target on shares of Datadog from $150.00 to $165.00 and gave the stock a “buy” rating in a research note on Monday, February 10th. One equities research analyst has rated the stock with a sell rating, seven have issued 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 stock presently has a consensus rating of “Moderate Buy” and a consensus 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.