Ardmore Road Asset Management LP Decreases Stock Holdings in Datadog, Inc. (NASDAQ:DDOG)

Ardmore Road Asset Management LP decreased its position in Datadog, Inc. (NASDAQ:DDOG - Free Report) by 33.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 100,000 shares of the company's stock after selling 50,000 shares during the quarter. Datadog accounts for approximately 2.1% of Ardmore Road Asset Management LP's holdings, making the stock its 23rd largest holding. Ardmore Road Asset Management LP's holdings in Datadog were worth $14,289,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Townsquare Capital LLC lifted its position in shares of Datadog by 50.5% in the third quarter. Townsquare Capital LLC now owns 2,871 shares of the company's stock worth $330,000 after purchasing an additional 963 shares in the last quarter. CreativeOne Wealth LLC acquired a new stake in Datadog in the 3rd quarter valued at $302,000. Rockefeller Capital Management L.P. lifted its position in Datadog by 3.5% during the 3rd quarter. Rockefeller Capital Management L.P. now owns 15,172 shares of the company's stock worth $1,746,000 after buying an additional 511 shares in the last quarter. Captrust Financial Advisors boosted its stake in shares of Datadog by 16.5% during the 3rd quarter. Captrust Financial Advisors now owns 9,513 shares of the company's stock worth $1,095,000 after buying an additional 1,349 shares during the last quarter. Finally, True Wealth Design LLC boosted its stake 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 worth $28,000 after buying an additional 240 shares during the last quarter. 78.29% of the stock is currently owned by institutional investors.

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Datadog Stock Down 7.1 %

Shares of DDOG stock traded down $7.24 during trading hours on Thursday, hitting $94.47. 5,748,186 shares of the company's stock traded hands, compared to its average volume of 4,207,684. The stock has a market cap of $32.38 billion, a price-to-earnings ratio of 185.24, a PEG ratio of 44.03 and a beta of 1.22. The stock's fifty day simple moving average is $121.49 and its two-hundred day simple moving average is $130.62. Datadog, Inc. has a 12-month low of $93.23 and a 12-month high of $170.08.

Datadog (NASDAQ:DDOG - Get Free Report) last announced its quarterly 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 return on equity of 8.28% and a net margin of 6.85%. On average, equities analysts forecast that Datadog, Inc. will post 0.34 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Amit Agarwal sold 25,000 shares of Datadog stock in a transaction dated Wednesday, January 8th. The stock was sold at an average price of $141.12, for a total transaction of $3,528,000.00. Following the transaction, the director now directly owns 195,667 shares of the company's stock, valued at $27,612,527.04. The trade was a 11.33 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Shardul Shah sold 7,916 shares of the stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $142.12, for a total transaction of $1,125,021.92. Following the completion of the sale, the director now directly owns 427,785 shares of the company's stock, valued at $60,796,804.20. This represents a 1.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 601,412 shares of company stock valued at $75,444,584 over the last 90 days. Company insiders own 11.78% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on DDOG shares. DA Davidson increased their price objective on Datadog from $150.00 to $165.00 and gave the company a "buy" rating in a report on Monday, February 10th. Loop Capital increased their price target on shares of Datadog from $160.00 to $200.00 and gave the company a "buy" rating in a research note on Monday, December 23rd. Citigroup lowered their price objective 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. Mizuho upped their target price on shares of Datadog from $155.00 to $170.00 and gave the company an "outperform" rating in a report on Friday, December 13th. Finally, Truist Financial reduced their price target on Datadog from $140.00 to $120.00 and set a "hold" rating for the company in a report on Monday. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, twenty-one have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $157.22.

Datadog Company 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.