BI Asset Management Fondsmaeglerselskab A S Cuts Stock Position in Datadog, Inc. (NASDAQ:DDOG)

BI Asset Management Fondsmaeglerselskab A S decreased its holdings in Datadog, Inc. (NASDAQ:DDOG - Free Report) by 23.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 25,521 shares of the company's stock after selling 7,635 shares during the period. BI Asset Management Fondsmaeglerselskab A S's holdings in Datadog were worth $3,647,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Retirement Wealth Solutions LLC purchased a new stake in shares of Datadog during the 4th quarter valued at about $30,000. Avior Wealth Management LLC lifted its stake in shares of Datadog by 55.9% in the 4th quarter. Avior Wealth Management LLC now owns 226 shares of the company's stock valued at $32,000 after purchasing an additional 81 shares during the last quarter. Kieckhefer Group LLC purchased a new position in shares of Datadog in the 4th quarter worth approximately $43,000. Summit Securities Group LLC purchased a new stake in Datadog during the 4th quarter valued at $43,000. Finally, Friedenthal Financial purchased a new position in Datadog during the 4th quarter worth $54,000. Hedge funds and other institutional investors own 78.29% of the company's stock.

Datadog Stock Performance

NASDAQ DDOG traded up $4.72 on Thursday, reaching $99.30. 2,286,208 shares of the company's stock traded hands, compared to its average volume of 4,342,736. Datadog, Inc. has a fifty-two week low of $81.63 and a fifty-two week high of $170.08. The firm has a market cap of $34.04 billion, a price-to-earnings ratio of 194.65, a P/E/G ratio of 44.03 and a beta of 1.20. The stock has a 50 day moving average price of $103.95 and a 200-day moving average price of $127.63.

Datadog (NASDAQ:DDOG - Get Free Report) last issued 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%. As a group, equities research analysts anticipate that Datadog, Inc. will post 0.34 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Olivier Pomel sold 107,365 shares of the stock in a transaction dated Monday, April 7th. The shares were sold at an average price of $87.33, for a total transaction of $9,376,185.45. Following the sale, the chief executive officer now directly owns 563,598 shares of the company's stock, valued at $49,219,013.34. This represents a 16.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CTO Alexis Le-Quoc sold 127,105 shares of Datadog stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $142.78, for a total value of $18,148,051.90. Following the completion of the transaction, the chief technology officer now owns 324,778 shares of the company's stock, valued at approximately $46,371,802.84. This represents a 28.13 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 523,756 shares of company stock worth $58,732,500. Corporate insiders own 11.78% of the company's stock.

Wall Street Analysts Forecast Growth

DDOG has been the topic of several research reports. Guggenheim restated a "neutral" rating on shares of Datadog in a research note on Wednesday, January 22nd. Rosenblatt Securities increased their price objective 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. Wolfe Research downgraded shares of Datadog from an "outperform" rating to a "peer perform" rating in a research note on Tuesday, February 18th. Citigroup cut their price target on Datadog from $170.00 to $165.00 and set a "buy" rating on the stock in a report on Friday, February 14th. Finally, UBS Group reduced their target price on shares of Datadog from $164.00 to $120.00 and set a "buy" rating for the company in a report on Tuesday, April 15th. Seven research analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $150.33.

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.