Advisory Services Network LLC Sells 19,462 Shares of Datadog, Inc. (NASDAQ:DDOG)

Advisory Services Network LLC lessened its stake in Datadog, Inc. (NASDAQ:DDOG - Free Report) by 88.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,599 shares of the company's stock after selling 19,462 shares during the quarter. Advisory Services Network LLC's holdings in Datadog were worth $371,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in shares of Datadog by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 30,354,229 shares of the company's stock valued at $4,337,316,000 after purchasing an additional 220,527 shares during the last quarter. Baillie Gifford & Co. boosted its position in shares of 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 during the last quarter. Jennison Associates LLC increased its holdings in shares of Datadog by 47.9% in the 4th quarter. Jennison Associates LLC now owns 9,278,648 shares of the company's stock valued at $1,325,826,000 after acquiring an additional 3,005,300 shares during the last quarter. Groupama Asset Managment raised its stake in shares of Datadog by 407.6% during the 4th quarter. Groupama Asset Managment now owns 6,600,000 shares of the company's stock worth $943,074,000 after buying an additional 5,299,688 shares during the last quarter. Finally, Geode Capital Management LLC grew its holdings in Datadog by 9.6% during the 4th quarter. Geode Capital Management LLC now owns 5,684,612 shares of the company's stock worth $811,076,000 after acquiring an additional 499,055 shares in the last quarter. Institutional investors own 78.29% of the company's stock.

Analyst Upgrades and Downgrades

DDOG has been the subject of a number of analyst reports. Barclays decreased their price target on Datadog from $187.00 to $180.00 and set an "overweight" rating for the company in a research note on Friday, February 14th. Cantor Fitzgerald initiated coverage on Datadog in a research note on Friday, January 17th. They set an "overweight" rating and a $180.00 price target on the stock. DA Davidson cut their price target on shares of Datadog from $165.00 to $115.00 and set a "buy" rating on the stock in a report on Monday, April 14th. Jefferies Financial Group restated a "buy" rating and set a $135.00 price target (down from $150.00) on shares of Datadog in a report on Monday, April 7th. Finally, Macquarie reiterated an "outperform" rating and issued a $200.00 price target on shares of Datadog in a research note on Tuesday, February 11th. Seven research analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $152.37.

Insider Activity at Datadog

In other news, CRO Sean Michael Walters sold 8,454 shares of Datadog stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $102.04, for a total value of $862,646.16. Following the transaction, the executive now owns 185,871 shares in the company, valued at approximately $18,966,276.84. The trade was a 4.35 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CTO Alexis Le-Quoc sold 127,105 shares of the stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $142.78, for a total transaction of $18,148,051.90. Following the completion of the sale, the chief technology officer now directly owns 324,778 shares of the company's stock, valued at approximately $46,371,802.84. This trade represents a 28.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 548,756 shares of company stock worth $62,219,250. 11.78% of the stock is currently owned by corporate insiders.

Datadog Stock Performance

NASDAQ DDOG traded down $0.82 during trading on Friday, hitting $91.06. The stock had a trading volume of 3,472,961 shares, compared to its average volume of 4,337,484. The stock has a market capitalization of $31.21 billion, a price-to-earnings ratio of 178.54, a P/E/G ratio of 44.03 and a beta of 1.20. The stock has a 50 day simple moving average of $106.75 and a 200 day simple moving average of $128.19. Datadog, Inc. has a one year low of $81.63 and a one year high of $170.08.

Datadog (NASDAQ:DDOG - Get Free Report) last posted its quarterly earnings data on Thursday, February 13th. The company reported $0.13 earnings per share (EPS) 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%. On average, sell-side analysts predict that Datadog, Inc. will post 0.34 EPS for the current year.

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.