CIBC Asset Management Inc Acquires 3,222 Shares of Datadog, Inc. (NASDAQ:DDOG)

CIBC Asset Management Inc grew its holdings in shares of Datadog, Inc. (NASDAQ:DDOG - Free Report) by 5.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 65,208 shares of the company's stock after buying an additional 3,222 shares during the period. CIBC Asset Management Inc's holdings in Datadog were worth $9,318,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. True Wealth Design LLC boosted its holdings in shares of Datadog by 12,000.0% during the 3rd quarter. True Wealth Design LLC now owns 242 shares of the company's stock valued at $28,000 after buying an additional 240 shares in the last quarter. Retirement Wealth Solutions LLC bought a new position in Datadog in the 4th quarter worth about $30,000. Avior Wealth Management LLC boosted its stake in Datadog by 55.9% in the 4th 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. boosted its stake in Datadog by 66.5% in the 3rd 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 bought a new position in Datadog in the 3rd quarter worth about $33,000. Institutional investors own 78.29% of the company's stock.

Insider Activity at Datadog

In related news, CEO Olivier Pomel sold 178,723 shares of the business's stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $161.28, for a total transaction of $28,824,445.44. Following the completion of the transaction, the chief executive officer now directly owns 379,693 shares in the company, valued at approximately $61,236,887.04. The trade was a 32.01 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Shardul Shah sold 7,916 shares of the company's stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $155.25, for a total value of $1,228,959.00. Following the completion of the transaction, the director now owns 435,701 shares of the company's stock, valued at $67,642,580.25. The trade was a 1.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 556,674 shares of company stock worth $82,904,025. 11.78% of the stock is owned by company insiders.

Datadog Price Performance

Shares of NASDAQ:DDOG traded down $6.57 during mid-day trading on Friday, reaching $119.67. 6,980,028 shares of the company traded hands, compared to its average volume of 6,008,824. The company's 50 day moving average price is $142.18 and its 200-day moving average price is $131.76. The firm has a market cap of $40.66 billion, a PE ratio of 234.66, a PEG ratio of 44.03 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 announced its quarterly earnings data 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%. On average, research analysts predict that Datadog, Inc. will post 0.34 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages recently issued reports on DDOG. Rosenblatt Securities upped their price target 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. Macquarie reiterated an "outperform" rating and issued a $200.00 price target on shares of Datadog in a research note on Tuesday, February 11th. JMP Securities reiterated a "market perform" rating on shares of Datadog in a research note on Friday, February 14th. Monness Crespi & Hardt upgraded shares of Datadog from a "neutral" rating to a "buy" rating and set a $155.00 price target on the stock in a research note on Thursday, November 7th. Finally, Barclays decreased their target price on Datadog from $187.00 to $180.00 and set an "overweight" rating for the company in a research report on Friday, February 14th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, twenty-two have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, Datadog presently has an average rating of "Moderate Buy" and a consensus price target of $158.39.

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.