Burney Co. Trims Holdings in Datadog, Inc. (NASDAQ:DDOG)

Burney Co. lessened its position in Datadog, Inc. (NASDAQ:DDOG) by 53.8% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 35,462 shares of the company’s stock after selling 41,306 shares during the period. Burney Co.’s holdings in Datadog were worth $5,067,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Oppenheimer & Co. Inc. raised its holdings in Datadog by 4.6% in the 2nd quarter. Oppenheimer & Co. Inc. now owns 13,624 shares of the company’s stock valued at $1,767,000 after acquiring an additional 593 shares during the last quarter. Parallel Advisors LLC raised its holdings in shares of Datadog by 3.5% in the 2nd quarter. Parallel Advisors LLC now owns 3,076 shares of the company’s stock worth $399,000 after purchasing an additional 105 shares during the period. Thoroughbred Financial Services LLC purchased a new position in shares of Datadog in the 2nd quarter worth about $481,000. Envestnet Asset Management Inc. lifted its stake in shares of Datadog by 8.0% in the 2nd quarter. Envestnet Asset Management Inc. now owns 356,011 shares of the company’s stock valued at $46,171,000 after purchasing an additional 26,431 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA grew its holdings in shares of Datadog by 9.2% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 3,944,943 shares of the company’s stock worth $511,620,000 after purchasing an additional 331,808 shares during the period. Hedge funds and other institutional investors own 78.29% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Loop Capital raised their price target on shares of Datadog from $160.00 to $200.00 and gave the company a “buy” rating in a report on Monday, December 23rd. Mizuho raised their target price on shares of Datadog from $155.00 to $170.00 and gave the company an “outperform” rating in a research note on Friday, December 13th. Barclays lifted their target price on shares of Datadog from $155.00 to $187.00 and gave the company an “overweight” rating in a report on Friday, December 6th. Scotiabank lowered their price target on Datadog from $135.00 to $133.00 and set a “sector outperform” rating for the company in a report on Friday, November 8th. Finally, BMO Capital Markets boosted their price objective on Datadog from $135.00 to $145.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. One analyst has rated the stock with a sell rating, two have given a hold rating, twenty-six have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, Datadog currently has an average rating of “Moderate Buy” and a consensus target price of $157.46.

Datadog Trading Up 2.3 %

Shares of DDOG opened at $142.35 on Wednesday. The firm has a market cap of $48.36 billion, a price-to-earnings ratio of 268.59, a PEG ratio of 19.82 and a beta of 1.14. The stock has a 50 day moving average of $145.36 and a 200-day moving average of $128.42. Datadog, Inc. has a 52 week low of $98.80 and a 52 week high of $170.08.

Insider Transactions at Datadog

In other news, Director Shardul Shah sold 7,916 shares of the company’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $155.25, for a total transaction of $1,228,959.00. Following the completion of the transaction, the director now owns 435,701 shares in the company, valued at approximately $67,642,580.25. This represents a 1.78 % decrease in their ownership of the stock. The transaction 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 Datadog 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 completion of the sale, the director now owns 195,667 shares in the company, valued at approximately $27,612,527.04. This represents a 11.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 609,763 shares of company stock worth $87,543,649. 11.78% of the stock is currently owned by insiders.

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.