Clearbridge Investments LLC Sells 107,454 Shares of Datadog, Inc. (NASDAQ:DDOG)

Clearbridge Investments LLC cut its position in Datadog, Inc. (NASDAQ:DDOG - Free Report) by 36.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 185,381 shares of the company's stock after selling 107,454 shares during the quarter. Clearbridge Investments LLC owned about 0.05% of Datadog worth $26,489,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Proficio Capital Partners LLC acquired a new position in shares of Datadog during the 4th quarter worth about $14,884,000. ARK Investment Management LLC increased its position in Datadog by 62.7% during the fourth quarter. ARK Investment Management LLC now owns 127,290 shares of the company's stock worth $18,188,000 after buying an additional 49,050 shares during the last quarter. Y Intercept Hong Kong Ltd raised its stake in Datadog by 140.1% in the fourth quarter. Y Intercept Hong Kong Ltd now owns 53,116 shares of the company's stock valued at $7,590,000 after buying an additional 30,998 shares during the period. Baillie Gifford & Co. lifted its position in shares of Datadog by 15.8% in the fourth quarter. Baillie Gifford & Co. now owns 10,905,133 shares of the company's stock valued at $1,558,234,000 after buying an additional 1,484,562 shares during the last quarter. Finally, Atom Investors LP bought a new position in shares of Datadog during the 3rd quarter worth approximately $1,112,000. 78.29% of the stock is currently owned by institutional investors and hedge funds.

Datadog Trading Down 7.1 %

NASDAQ:DDOG traded down $7.24 during mid-day trading on Thursday, hitting $94.47. 5,748,186 shares of the company's stock were exchanged, compared to its average volume of 4,207,668. Datadog, Inc. has a fifty-two week low of $93.23 and a fifty-two week high of $170.08. The firm has a market capitalization of $32.38 billion, a P/E ratio of 185.24, a PEG ratio of 44.03 and a beta of 1.22. The company has a 50 day simple moving average of $121.49 and a 200-day simple moving average of $130.62.

Remove Ads

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

Insider Activity

In other Datadog news, CTO Alexis Le-Quoc sold 127,105 shares of the stock in a transaction that occurred on Wednesday, January 8th. The shares were sold at an average price of $141.21, for a total transaction of $17,948,497.05. Following the completion of the sale, the chief technology officer now owns 324,778 shares of the company's stock, valued at approximately $45,861,901.38. This represents a 28.13 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Shardul Shah sold 7,916 shares of the firm's 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 transaction, the director now owns 427,785 shares of the company's stock, valued at approximately $60,796,804.20. The trade was a 1.82 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 601,412 shares of company stock valued at $75,444,584. Company insiders own 11.78% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on DDOG. Wolfe Research downgraded Datadog from an "outperform" rating to a "peer perform" rating in a report on Tuesday, February 18th. JMP Securities reiterated a "market perform" rating on shares of Datadog in a research note on Friday, February 14th. Guggenheim reaffirmed a "neutral" rating on shares of Datadog in a research report on Wednesday, January 22nd. Stifel Nicolaus cut Datadog from a "buy" rating to a "hold" rating and dropped their price target for the stock from $165.00 to $140.00 in a report on Wednesday, January 29th. Finally, Jefferies Financial Group reduced their price target on Datadog from $170.00 to $150.00 and set a "buy" rating for the company in a research note on Monday. One research analyst has rated the stock with a sell rating, seven have given a hold rating, twenty-one have given a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, Datadog presently has a consensus rating of "Moderate Buy" and an average price target 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.