CIBC Private Wealth Group LLC Sells 14,550 Shares of Datadog, Inc. (NASDAQ:DDOG)

CIBC Private Wealth Group LLC reduced its position in shares of Datadog, Inc. (NASDAQ:DDOG - Free Report) by 2.5% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 577,679 shares of the company's stock after selling 14,550 shares during the period. CIBC Private Wealth Group LLC owned approximately 0.17% of Datadog worth $81,961,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the business. Allworth Financial LP lifted its holdings in shares of Datadog by 7.7% in the fourth quarter. Allworth Financial LP now owns 1,043 shares of the company's stock valued at $146,000 after purchasing an additional 75 shares in the last quarter. Spire Wealth Management lifted its position in Datadog by 21.4% during the fourth quarter. Spire Wealth Management now owns 453 shares of the company's stock worth $65,000 after buying an additional 80 shares during the period. Avior Wealth Management LLC boosted its position in shares of Datadog by 55.9% in the fourth quarter. Avior Wealth Management LLC now owns 226 shares of the company's stock worth $32,000 after acquiring an additional 81 shares during the last quarter. Farther Finance Advisors LLC grew its stake in shares of Datadog by 5.2% during the 4th quarter. Farther Finance Advisors LLC now owns 1,853 shares of the company's stock valued at $265,000 after buying an additional 92 shares during the period. Finally, Parkside Financial Bank & Trust grew its position in Datadog by 16.5% during the fourth quarter. Parkside Financial Bank & Trust now owns 663 shares of the company's stock valued at $95,000 after acquiring an additional 94 shares during the period. 78.29% of the stock is owned by institutional investors and hedge funds.

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Insider Activity

In other news, Director Shardul Shah sold 7,916 shares of the company's stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $142.12, for a total value of $1,125,021.92. Following the transaction, the director now owns 427,785 shares in the company, valued at $60,796,804.20. This represents a 1.82 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CTO Alexis Le-Quoc sold 127,105 shares of Datadog stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $102.15, for a total value of $12,983,775.75. Following the sale, the chief technology officer now directly owns 371,865 shares of the company's stock, valued at approximately $37,986,009.75. The trade was a 25.47 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 601,412 shares of company stock worth $75,444,584. Insiders own 11.78% of the company's stock.

Datadog Stock Down 4.6 %

NASDAQ DDOG traded down $4.34 on Friday, hitting $90.13. The stock had a trading volume of 3,094,335 shares, compared to its average volume of 4,210,685. Datadog, Inc. has a one year low of $86.65 and a one year high of $170.08. The company's 50-day moving average is $120.58 and its two-hundred day moving average is $130.37. The stock has a market cap of $30.89 billion, a price-to-earnings ratio of 176.73, a P/E/G ratio of 44.03 and a beta of 1.20.

Datadog (NASDAQ:DDOG - Get Free Report) last announced its earnings results on Thursday, February 13th. The company reported $0.13 earnings per share 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 anticipate that Datadog, Inc. will post 0.34 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on DDOG shares. Loop Capital upped their price target on shares of Datadog from $160.00 to $200.00 and gave the stock a "buy" rating in a research report on Monday, December 23rd. Barclays dropped their target price on Datadog from $187.00 to $180.00 and set an "overweight" rating on the stock in a report on Friday, February 14th. Truist Financial decreased their price target on Datadog from $140.00 to $120.00 and set a "hold" rating for the company in a report on Monday. Mizuho boosted their target price on shares of Datadog from $155.00 to $170.00 and gave the stock an "outperform" rating in a research report on Friday, December 13th. Finally, Rosenblatt Securities upped 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. One analyst has rated the stock with a sell rating, seven have issued a hold rating, twenty-one have issued a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $157.22.

About Datadog

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.