Cibc World Markets Corp Trims Holdings in Datadog, Inc. (NASDAQ:DDOG)

Cibc World Markets Corp decreased its stake in shares of Datadog, Inc. (NASDAQ:DDOG) by 14.6% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 19,640 shares of the company’s stock after selling 3,354 shares during the quarter. Cibc World Markets Corp’s holdings in Datadog were worth $2,806,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Retirement Wealth Solutions LLC purchased a new position in Datadog during the fourth quarter worth approximately $30,000. Avior Wealth Management LLC lifted its position in Datadog by 55.9% during the fourth quarter. Avior Wealth Management LLC now owns 226 shares of the company’s stock worth $32,000 after buying an additional 81 shares in the last quarter. True Wealth Design LLC increased its stake in Datadog by 12,000.0% during the third quarter. True Wealth Design LLC now owns 242 shares of the company’s stock worth $28,000 after acquiring an additional 240 shares during the last quarter. Meeder Asset Management Inc. increased its stake in Datadog by 66.5% during the third quarter. Meeder Asset Management Inc. now owns 288 shares of the company’s stock worth $33,000 after acquiring an additional 115 shares during the last quarter. Finally, Quarry LP acquired a new stake in Datadog during the third quarter worth $33,000. Hedge funds and other institutional investors own 78.29% of the company’s stock.

Insiders Place Their Bets

In other news, CRO Sean Michael Walters sold 8,454 shares of the business’s stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $102.04, for a total value of $862,646.16. Following the completion of the sale, the executive now directly owns 185,871 shares of the company’s stock, valued at approximately $18,966,276.84. The trade was a 4.35 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CTO Alexis Le-Quoc sold 127,105 shares of the business’s stock in a transaction dated 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 directly owns 324,778 shares of the company’s stock, valued at $45,861,901.38. The trade was a 28.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 626,412 shares of company stock valued at $79,144,334 in the last ninety days. Insiders own 11.78% of the company’s stock.

Datadog Price Performance

Shares of NASDAQ DDOG opened at $103.17 on Friday. The company has a market capitalization of $35.36 billion, a price-to-earnings ratio of 202.30, a price-to-earnings-growth ratio of 44.03 and a beta of 1.22. The business has a 50-day moving average of $127.67 and a two-hundred day moving average of $130.80. Datadog, Inc. has a 1 year low of $98.30 and a 1 year high of $170.08.

Datadog (NASDAQ:DDOG) last announced its quarterly earnings results on Thursday, February 13th. The company reported $0.13 earnings per share (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%. As a group, equities research analysts expect that Datadog, Inc. will post 0.34 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms have issued reports on DDOG. Macquarie reissued an “outperform” rating and set a $200.00 target price on shares of Datadog in a research note on Tuesday, February 11th. Royal Bank of Canada raised their target price on Datadog from $151.00 to $170.00 and gave the stock an “outperform” rating in a research note on Friday, January 3rd. Barclays cut their target price on Datadog from $187.00 to $180.00 and set an “overweight” rating for the company in a research note on Friday, February 14th. Citigroup cut their target price on Datadog from $170.00 to $165.00 and set a “buy” rating for the company in a research note on Friday, February 14th. Finally, Morgan Stanley reaffirmed an “equal weight” rating and issued a $143.00 price objective on shares of Datadog in a research note on Thursday, January 16th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, twenty-one have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average 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.