Citizens Financial Group Inc. RI Lowers Position in Datadog, Inc. (NASDAQ:DDOG)

Citizens Financial Group Inc. RI lowered its stake in shares of Datadog, Inc. (NASDAQ:DDOG - Free Report) by 82.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,448 shares of the company's stock after selling 6,789 shares during the period. Citizens Financial Group Inc. RI's holdings in Datadog were worth $207,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Clare Market Investments LLC bought a new stake in Datadog in the fourth quarter worth $691,000. Independent Advisor Alliance boosted its stake in Datadog by 11.4% during the fourth quarter. Independent Advisor Alliance now owns 7,608 shares of the company's stock worth $1,087,000 after buying an additional 779 shares during the period. EPIQ Capital Group LLC boosted its stake in Datadog by 0.9% during the fourth quarter. EPIQ Capital Group LLC now owns 16,898 shares of the company's stock worth $2,415,000 after buying an additional 153 shares during the period. Argentarii LLC purchased a new position in Datadog during the fourth quarter worth $234,000. Finally, OFI Invest Asset Management purchased a new position in Datadog during the fourth quarter worth $16,497,000. Institutional investors own 78.29% of the company's stock.

Insider Activity

In other news, President Amit Agarwal sold 25,000 shares of the company's stock in a transaction dated Thursday, December 26th. The shares were sold at an average price of $147.99, for a total transaction of $3,699,750.00. Following the transaction, the president now owns 195,667 shares in the company, valued at $28,956,759.33. This represents a 11.33 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CTO Alexis Le-Quoc sold 127,105 shares of the stock in a transaction that occurred on Wednesday, January 8th. The stock was sold at an average price of $141.21, for a total transaction of $17,948,497.05. Following the completion of the transaction, the chief technology officer now owns 324,778 shares in the company, valued at approximately $45,861,901.38. This trade represents a 28.13 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 626,412 shares of company stock worth $79,144,334 over the last 90 days. 11.78% of the stock is currently owned by corporate insiders.

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Datadog Price Performance

Datadog stock traded up $1.50 during trading hours on Wednesday, reaching $104.43. The stock had a trading volume of 3,143,734 shares, compared to its average volume of 4,062,734. The company has a market cap of $35.79 billion, a price-to-earnings ratio of 204.77, a PEG ratio of 44.03 and a beta of 1.22. The business's 50 day moving average price is $129.20 and its 200-day moving average price is $131.18. Datadog, Inc. has a 52 week low of $98.30 and a 52 week high of $170.08.

Datadog (NASDAQ:DDOG - Get Free Report) last posted 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%. On average, sell-side analysts forecast that Datadog, Inc. will post 0.34 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have commented on DDOG. Citigroup dropped their price objective on shares of Datadog from $170.00 to $165.00 and set a "buy" rating for the company in a research note on Friday, February 14th. Needham & Company LLC reaffirmed a "buy" rating and set a $160.00 price objective on shares of Datadog in a research note on Tuesday, March 4th. Barclays dropped their price objective on shares of Datadog from $187.00 to $180.00 and set an "overweight" rating for the company in a research note on Friday, February 14th. Macquarie reissued an "outperform" rating and set a $200.00 target price on shares of Datadog in a research note on Tuesday, February 11th. Finally, Jefferies Financial Group boosted their target price on shares of Datadog from $155.00 to $170.00 and gave the company a "buy" rating in a research note on Monday, January 6th. One analyst has rated the stock with a sell rating, seven have given a hold rating, twenty-one have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $158.70.

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.