Datadog, Inc. (NASDAQ:DDOG) Shares Sold by Banque Pictet & Cie SA

Banque Pictet & Cie SA lowered its stake in shares of Datadog, Inc. (NASDAQ:DDOG - Free Report) by 54.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,642 shares of the company's stock after selling 1,984 shares during the period. Banque Pictet & Cie SA's holdings in Datadog were worth $235,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of DDOG. Inspire Investing LLC raised its position in shares of Datadog by 22.0% during the third quarter. Inspire Investing LLC now owns 2,484 shares of the company's stock valued at $286,000 after buying an additional 448 shares during the last quarter. Creative Planning increased its position in Datadog by 17.6% in the third quarter. Creative Planning now owns 17,141 shares of the company's stock worth $1,972,000 after purchasing an additional 2,563 shares during the last quarter. Bleakley Financial Group LLC increased its position in Datadog by 10.0% in the third quarter. Bleakley Financial Group LLC now owns 3,427 shares of the company's stock worth $394,000 after purchasing an additional 311 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd increased its position in Datadog by 0.9% in the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 35,224 shares of the company's stock worth $4,053,000 after purchasing an additional 314 shares during the last quarter. Finally, Accurate Wealth Management LLC bought a new stake in Datadog in the third quarter worth $558,000. Institutional investors own 78.29% of the company's stock.

Insiders Place Their Bets

In other news, Director Amit Agarwal sold 25,000 shares of the stock in a transaction that occurred on Wednesday, January 22nd. The stock was sold at an average price of $139.47, for a total transaction of $3,486,750.00. Following the transaction, the director now owns 195,667 shares in the company, valued at $27,289,676.49. This trade represents a 11.33 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Olivier Pomel sold 178,723 shares of the stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $161.28, for a total value of $28,824,445.44. Following the transaction, the chief executive officer now owns 379,693 shares in the company, valued at $61,236,887.04. This trade represents a 32.01 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 556,674 shares of company stock worth $82,904,025. Corporate insiders own 11.78% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on DDOG shares. Jefferies Financial Group boosted their price target on shares of Datadog from $155.00 to $170.00 and gave the stock a "buy" rating in a research report on Monday, January 6th. JMP Securities reaffirmed a "market perform" rating on shares of Datadog in a research note on Friday, February 14th. Rosenblatt Securities lifted their price objective on shares of Datadog from $148.00 to $160.00 and gave the stock a "buy" rating in a research note on Wednesday, February 12th. Robert W. Baird lifted their price objective on shares of Datadog from $140.00 to $150.00 and gave the stock an "outperform" rating in a research note on Friday, November 8th. Finally, Royal Bank of Canada lifted their price objective on shares of Datadog from $151.00 to $170.00 and gave the stock an "outperform" rating in a research note on Friday, January 3rd. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, twenty-two have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, Datadog has an average rating of "Moderate Buy" and a consensus price target of $158.39.

Datadog Stock Performance

NASDAQ DDOG traded down $1.78 during trading hours on Wednesday, reaching $128.85. The stock had a trading volume of 4,400,305 shares, compared to its average volume of 5,091,318. The stock has a fifty day moving average of $144.01 and a 200 day moving average of $131.53. The stock has a market cap of $43.77 billion, a P/E ratio of 252.65, a price-to-earnings-growth ratio of 15.23 and a beta of 1.15. Datadog, Inc. has a 52-week low of $98.80 and a 52-week high of $170.08.

Datadog (NASDAQ:DDOG - Get Free Report) last issued its earnings results on Thursday, February 13th. The company reported $0.13 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%. On average, equities research analysts forecast that Datadog, Inc. will post 0.58 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.