Datadog, Inc. (NASDAQ:DDOG) Shares Sold by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank reduced its stake in shares of Datadog, Inc. (NASDAQ:DDOG) by 68.0% during the 4th quarter, HoldingsChannel reports. The fund owned 101,800 shares of the company’s stock after selling 216,596 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Datadog were worth $14,546,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. True Wealth Design LLC raised 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 purchasing an additional 240 shares during the period. Retirement Wealth Solutions LLC purchased a new stake in shares of Datadog during the 4th quarter valued at $30,000. Avior Wealth Management LLC increased its holdings in shares of Datadog by 55.9% during the 4th quarter. Avior Wealth Management LLC now owns 226 shares of the company’s stock worth $32,000 after buying an additional 81 shares during the last quarter. Meeder Asset Management Inc. raised its position in shares of Datadog by 66.5% in the 3rd quarter. Meeder Asset Management Inc. now owns 288 shares of the company’s stock worth $33,000 after buying an additional 115 shares during the period. Finally, Quarry LP acquired a new position in Datadog in the third quarter valued at $33,000. 78.29% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on DDOG shares. DA Davidson upped their price target on Datadog from $150.00 to $165.00 and gave the stock a “buy” rating in a research note on Monday, February 10th. Guggenheim restated a “neutral” rating on shares of Datadog in a report on Wednesday, January 22nd. JMP Securities reiterated a “market perform” rating on shares of Datadog in a research note on Friday, February 14th. Truist Financial dropped their price objective on shares of Datadog from $150.00 to $140.00 and set a “hold” rating for the company in a research report on Friday, February 14th. Finally, Cantor Fitzgerald assumed coverage on shares of Datadog in a report on Friday, January 17th. They set an “overweight” rating and a $180.00 target price on the stock. One investment 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’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $158.70.

Insider Activity at Datadog

In other Datadog news, Director Shardul Shah sold 7,916 shares of the business’s stock in a transaction on 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 sale, the director now owns 435,701 shares in the company, valued at $67,642,580.25. The trade was a 1.78 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CTO Alexis Le-Quoc sold 127,105 shares of the firm’s stock in a transaction dated Wednesday, January 8th. The stock was sold at an average price of $141.21, for a total transaction of $17,948,497.05. Following the completion of the transaction, the chief technology officer now owns 324,778 shares in the company, valued at approximately $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. In the last ninety days, insiders have sold 517,995 shares of company stock valued at $69,482,484. Corporate insiders own 11.78% of the company’s stock.

Datadog Stock Performance

DDOG opened at $102.03 on Thursday. The company has a market capitalization of $34.97 billion, a P/E ratio of 200.06, a PEG ratio of 44.03 and a beta of 1.22. The company has a 50-day moving average of $132.57 and a 200-day moving average of $131.45. Datadog, Inc. has a 1-year low of $98.80 and a 1-year high of $170.08.

Datadog (NASDAQ:DDOG) last announced its quarterly earnings data 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%. As a group, sell-side analysts expect that Datadog, Inc. will post 0.34 earnings per share for the current fiscal year.

Datadog Company 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.