Commonwealth Equity Services LLC Has $30.83 Million Stock Position in Datadog, Inc. (NASDAQ:DDOG)

Commonwealth Equity Services LLC trimmed its holdings in shares of Datadog, Inc. (NASDAQ:DDOG - Free Report) by 22.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 215,744 shares of the company's stock after selling 63,403 shares during the period. Commonwealth Equity Services LLC owned about 0.06% of Datadog worth $30,828,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of DDOG. True Wealth Design LLC lifted its position in shares of Datadog by 12,000.0% during the third quarter. True Wealth Design LLC now owns 242 shares of the company's stock worth $28,000 after purchasing an additional 240 shares in the last quarter. Retirement Wealth Solutions LLC acquired a new position in shares of Datadog during the fourth quarter worth $30,000. Avior Wealth Management LLC lifted its position in shares of Datadog by 55.9% during the fourth quarter. Avior Wealth Management LLC now owns 226 shares of the company's stock worth $32,000 after purchasing an additional 81 shares in the last quarter. Meeder Asset Management Inc. lifted its position in shares of Datadog by 66.5% during the third quarter. Meeder Asset Management Inc. now owns 288 shares of the company's stock worth $33,000 after purchasing an additional 115 shares in the last quarter. Finally, Quarry LP acquired a new position in shares of Datadog during the third quarter worth $33,000. 78.29% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Datadog

In other news, CTO Alexis Le-Quoc sold 127,105 shares of the firm's stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $102.15, for a total transaction of $12,983,775.75. Following the completion of the transaction, the chief technology officer now owns 371,865 shares in the company, valued at approximately $37,986,009.75. This trade represents a 25.47 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CRO Sean Michael Walters sold 8,454 shares of the firm's stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $102.04, for a total transaction of $862,646.16. Following the transaction, the executive now owns 185,871 shares of the company's stock, valued at approximately $18,966,276.84. This trade represents a 4.35 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 626,412 shares of company stock worth $79,144,334 in the last 90 days. Corporate insiders own 11.78% of the company's stock.

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Datadog Trading Up 1.5 %

DDOG traded up $1.50 on Wednesday, reaching $104.43. The company had a trading volume of 3,146,346 shares, compared to its average volume of 4,062,739. The company has a fifty day moving average of $129.20 and a 200-day moving average of $131.18. The company has a market capitalization of $35.79 billion, a P/E ratio of 204.77, a PEG ratio of 44.03 and a beta of 1.22. Datadog, Inc. has a one year low of $98.30 and a one year high of $170.08.

Datadog (NASDAQ:DDOG - Get Free Report) last announced its 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 net margin of 6.85% and a return on equity of 8.28%. Research analysts predict that Datadog, Inc. will post 0.34 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. Citigroup reduced their target price on shares of Datadog from $170.00 to $165.00 and set a "buy" rating on the stock in a research report on Friday, February 14th. Jefferies Financial Group lifted their price target on shares of Datadog from $155.00 to $170.00 and gave the stock a "buy" rating in a research note on Monday, January 6th. Guggenheim restated a "neutral" rating on shares of Datadog in a research note on Wednesday, January 22nd. Cantor Fitzgerald began coverage on shares of Datadog in a research note on Friday, January 17th. They issued an "overweight" rating and a $180.00 price target for the company. Finally, DA Davidson lifted their price target on shares of Datadog from $150.00 to $165.00 and gave the stock a "buy" rating in a research note on Monday, February 10th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, twenty-one have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $158.70.

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.