CIBC Private Wealth Group LLC Cuts Stake in Datadog, Inc. (NASDAQ:DDOG)

CIBC Private Wealth Group LLC cut its holdings in Datadog, Inc. (NASDAQ:DDOG) by 2.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 577,679 shares of the company’s stock after selling 14,550 shares during the quarter. CIBC Private Wealth Group LLC owned approximately 0.17% of Datadog worth $81,961,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. Proficio Capital Partners LLC purchased a new stake in shares of Datadog in the 4th quarter worth approximately $14,884,000. ARK Investment Management LLC raised its stake in Datadog by 62.7% in the fourth quarter. ARK Investment Management LLC now owns 127,290 shares of the company’s stock worth $18,188,000 after buying an additional 49,050 shares in the last quarter. Y Intercept Hong Kong Ltd lifted its holdings in Datadog by 140.1% during the fourth quarter. Y Intercept Hong Kong Ltd now owns 53,116 shares of the company’s stock worth $7,590,000 after buying an additional 30,998 shares during the period. Baillie Gifford & Co. boosted its position in Datadog by 15.8% during the 4th quarter. Baillie Gifford & Co. now owns 10,905,133 shares of the company’s stock valued at $1,558,234,000 after acquiring an additional 1,484,562 shares in the last quarter. Finally, Atom Investors LP purchased a new position in shares of Datadog in the 3rd quarter valued at $1,112,000. 78.29% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CTO Alexis Le-Quoc sold 127,105 shares of Datadog stock in a transaction that occurred on Wednesday, January 8th. The stock was sold at an average price of $141.21, for a total value of $17,948,497.05. Following 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 sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Amit Agarwal sold 25,000 shares of the business’s stock in a transaction that occurred on Wednesday, January 8th. The stock was sold at an average price of $141.12, for a total value of $3,528,000.00. Following the sale, the director now owns 195,667 shares of the company’s stock, valued at $27,612,527.04. The trade was a 11.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 601,412 shares of company stock worth $75,444,584 over the last 90 days. 11.78% of the stock is currently owned by company insiders.

Datadog Trading Down 3.6 %

NASDAQ DDOG opened at $101.10 on Monday. Datadog, Inc. has a twelve month low of $98.30 and a twelve month high of $170.08. The stock has a 50-day moving average of $123.79 and a 200 day moving average of $130.95. The stock has a market capitalization of $34.65 billion, a price-to-earnings ratio of 198.24, a PEG ratio of 44.03 and a beta of 1.22.

Datadog (NASDAQ:DDOG) last announced its 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 net margin of 6.85% and a return on equity of 8.28%. Equities analysts predict that Datadog, Inc. will post 0.34 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Macquarie restated an “outperform” rating and set a $200.00 price objective on shares of Datadog in a research note on Tuesday, February 11th. Wolfe Research cut shares of Datadog from an “outperform” rating to a “peer perform” rating in a report on Tuesday, February 18th. Truist Financial cut their price objective on shares of Datadog from $150.00 to $140.00 and set a “hold” rating on the stock in a research report on Friday, February 14th. Rosenblatt Securities raised their target price on shares of Datadog from $148.00 to $160.00 and gave the company a “buy” rating in a research note on Wednesday, February 12th. Finally, Citigroup cut their price target on shares of Datadog from $170.00 to $165.00 and set a “buy” rating on the stock in a report on Friday, February 14th. 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 given a strong buy rating to the stock. According to data from MarketBeat.com, Datadog presently 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.