Datadog, Inc. (NASDAQ:DDOG) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC cut its holdings in shares of Datadog, Inc. (NASDAQ:DDOG) by 29.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 744,075 shares of the company’s stock after selling 309,950 shares during the period. Allspring Global Investments Holdings LLC owned approximately 0.22% of Datadog worth $106,833,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the business. True Wealth Design LLC lifted its position in shares of Datadog by 12,000.0% during the 3rd quarter. True Wealth Design LLC now owns 242 shares of the company’s stock valued at $28,000 after acquiring an additional 240 shares during the last quarter. Retirement Wealth Solutions LLC purchased a new stake in shares of Datadog during the fourth quarter valued at $30,000. Avior Wealth Management LLC boosted its position in shares of Datadog by 55.9% in the 4th quarter. Avior Wealth Management LLC now owns 226 shares of the company’s stock valued at $32,000 after purchasing an additional 81 shares during the period. Meeder Asset Management Inc. increased its stake in 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 purchasing an additional 115 shares in the last quarter. Finally, Quarry LP acquired a new stake in Datadog during the 3rd quarter worth about $33,000. 78.29% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Datadog

In other Datadog news, CTO Alexis Le-Quoc sold 127,105 shares of the firm’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $142.78, for a total value of $18,148,051.90. Following the sale, the chief technology officer now directly owns 324,778 shares in the company, valued at $46,371,802.84. This trade represents a 28.13 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, 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 transaction, the director now directly owns 435,701 shares of the company’s stock, valued at $67,642,580.25. This represents a 1.78 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 777,586 shares of company stock worth $111,444,979 over the last ninety days. Company insiders own 11.78% of the company’s stock.

Datadog Trading Up 1.8 %

NASDAQ:DDOG opened at $148.09 on Thursday. The firm has a market capitalization of $50.31 billion, a PE ratio of 279.42, a PEG ratio of 16.83 and a beta of 1.15. Datadog, Inc. has a 1 year low of $98.80 and a 1 year high of $170.08. The firm’s fifty day simple moving average is $146.75 and its 200 day simple moving average is $130.77.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on DDOG shares. BMO Capital Markets lifted their target price on shares of Datadog from $135.00 to $145.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. Citigroup lifted their price objective on shares of Datadog from $157.00 to $170.00 and gave the stock a “buy” rating in a research report on Friday, January 17th. Stifel Nicolaus lowered Datadog from a “buy” rating to a “hold” rating and reduced their target price for the company from $165.00 to $140.00 in a report on Wednesday, January 29th. Truist Financial lowered Datadog from a “buy” rating to a “hold” rating and dropped their price target for the company from $170.00 to $150.00 in a research report on Tuesday, January 7th. Finally, Morgan Stanley restated an “equal weight” rating and set a $143.00 price objective on shares of Datadog in a research report on Thursday, January 16th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, twenty-five have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $158.52.

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.