Thrivent Financial for Lutherans Trims Stake in Datadog, Inc. (NASDAQ:DDOG)

Thrivent Financial for Lutherans reduced its position in Datadog, Inc. (NASDAQ:DDOG) by 2.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 708,052 shares of the company’s stock after selling 15,082 shares during the quarter. Thrivent Financial for Lutherans owned 0.21% of Datadog worth $101,035,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Allworth Financial LP raised its position in Datadog by 7.7% in the 4th quarter. Allworth Financial LP now owns 1,043 shares of the company’s stock worth $146,000 after purchasing an additional 75 shares during the period. Spire Wealth Management raised its position in Datadog by 21.4% in the 4th quarter. Spire Wealth Management now owns 453 shares of the company’s stock worth $65,000 after purchasing an additional 80 shares during the period. Avior Wealth Management LLC raised its position in Datadog by 55.9% in the 4th quarter. Avior Wealth Management LLC now owns 226 shares of the company’s stock worth $32,000 after purchasing an additional 81 shares during the period. Pathstone Holdings LLC raised its position in Datadog by 0.4% in the 3rd quarter. Pathstone Holdings LLC now owns 23,152 shares of the company’s stock worth $2,664,000 after purchasing an additional 91 shares during the period. Finally, Farther Finance Advisors LLC raised its position in Datadog by 5.2% in the 4th quarter. Farther Finance Advisors LLC now owns 1,853 shares of the company’s stock worth $265,000 after purchasing an additional 92 shares during the period. 78.29% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

DDOG has been the topic of a number of research reports. Wells Fargo & Company lowered shares of Datadog from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $152.00 to $140.00 in a research report on Thursday, February 13th. Guggenheim reaffirmed a “neutral” rating on shares of Datadog in a research report on Wednesday, January 22nd. Morgan Stanley reaffirmed an “equal weight” rating and set a $143.00 target price on shares of Datadog in a research report on Thursday, January 16th. Royal Bank of Canada raised their target price on shares of Datadog from $151.00 to $170.00 and gave the stock an “outperform” rating in a research report on Friday, January 3rd. Finally, Macquarie reaffirmed an “outperform” rating and set a $200.00 target price on shares of Datadog in a research report on Tuesday, February 11th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, twenty-one have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $158.70.

Insider Activity

In other news, Director Shardul Shah sold 7,916 shares of the business’s stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $142.12, for a total transaction of $1,125,021.92. Following the sale, the director now directly owns 427,785 shares of the company’s stock, valued at $60,796,804.20. The trade was a 1.82 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CTO Alexis Le-Quoc sold 127,105 shares of the business’s stock in a transaction on Wednesday, January 8th. The shares were sold at an average price of $141.21, for a total transaction of $17,948,497.05. Following the sale, the chief technology officer now directly owns 324,778 shares in the company, valued at $45,861,901.38. This trade represents a 28.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 626,412 shares of company stock valued at $79,144,334 over the last ninety days. 11.78% of the stock is currently owned by insiders.

Datadog Trading Down 1.0 %

NASDAQ DDOG opened at $102.93 on Wednesday. The firm’s fifty day simple moving average is $129.20 and its two-hundred day simple moving average is $131.18. Datadog, Inc. has a 12-month low of $98.30 and a 12-month high of $170.08. The firm has a market capitalization of $35.28 billion, a P/E ratio of 201.83, a P/E/G ratio of 44.03 and a beta of 1.22.

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 analysts’ consensus estimates 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 predict that Datadog, Inc. will post 0.34 earnings per share for the current fiscal year.

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.