Datadog, Inc. (NASDAQ:DDOG) Shares Sold by FUKOKU MUTUAL LIFE INSURANCE Co

FUKOKU MUTUAL LIFE INSURANCE Co reduced its stake in shares of Datadog, Inc. (NASDAQ:DDOG) by 51.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,167 shares of the company’s stock after selling 2,297 shares during the period. FUKOKU MUTUAL LIFE INSURANCE Co’s holdings in Datadog were worth $310,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Blue Trust Inc. grew its stake in Datadog by 80.3% in the third quarter. Blue Trust Inc. now owns 539 shares of the company’s stock worth $62,000 after purchasing an additional 240 shares in the last quarter. International Assets Investment Management LLC bought a new stake in shares of Datadog in the 3rd quarter worth approximately $4,038,000. Wealth Enhancement Advisory Services LLC boosted its position in Datadog by 8.2% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 11,746 shares of the company’s stock valued at $1,352,000 after purchasing an additional 886 shares during the period. Pallas Capital Advisors LLC acquired a new position in Datadog during the 3rd quarter valued at approximately $278,000. Finally, abrdn plc grew its stake in Datadog by 103.9% during the 3rd quarter. abrdn plc now owns 61,384 shares of the company’s stock worth $7,063,000 after buying an additional 31,276 shares during the last quarter. Institutional investors own 78.29% of the company’s stock.

Datadog Price Performance

Shares of NASDAQ:DDOG opened at $113.37 on Thursday. The stock has a market capitalization of $38.51 billion, a P/E ratio of 222.30, a P/E/G ratio of 44.03 and a beta of 1.15. The business has a 50-day moving average of $139.84 and a two-hundred day moving average of $131.84. Datadog, Inc. has a fifty-two week low of $98.80 and a fifty-two week high of $170.08.

Datadog (NASDAQ:DDOG) last posted its earnings results 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 return on equity of 8.28% and a net margin of 6.85%. As a group, research analysts expect that Datadog, Inc. will post 0.34 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. Mizuho upped their price target on shares of Datadog from $155.00 to $170.00 and gave the stock an “outperform” rating in a research report on Friday, December 13th. Citigroup dropped their price target on shares of Datadog from $170.00 to $165.00 and set a “buy” rating on the stock in a research note on Friday, February 14th. Morgan Stanley reaffirmed an “equal weight” rating and set a $143.00 price target on shares of Datadog in a report on Thursday, January 16th. Wolfe Research lowered Datadog from an “outperform” rating to a “peer perform” rating in a report on Tuesday, February 18th. Finally, Rosenblatt Securities lifted their target price on Datadog from $148.00 to $160.00 and gave the company a “buy” rating in a research note on Wednesday, February 12th. One investment 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 given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $158.70.

Insiders Place Their Bets

In related news, President Amit Agarwal sold 25,000 shares of the company’s stock in a transaction on Thursday, December 26th. The shares were sold at an average price of $147.99, for a total transaction of $3,699,750.00. Following the completion of the transaction, the president now directly owns 195,667 shares in the company, valued at $28,956,759.33. This represents a 11.33 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Olivier Pomel sold 178,723 shares of the company’s stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $161.28, for a total transaction of $28,824,445.44. Following the transaction, the chief executive officer now directly owns 379,693 shares of the company’s stock, valued at $61,236,887.04. This represents a 32.01 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 556,674 shares of company stock valued at $82,904,025 in the last quarter. Insiders own 11.78% of the company’s stock.

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.