Datadog, Inc. (NASDAQ:DDOG) Shares Sold by Empowered Funds LLC

Empowered Funds LLC decreased its position in shares of Datadog, Inc. (NASDAQ:DDOG - Free Report) by 81.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 9,641 shares of the company's stock after selling 42,606 shares during the quarter. Empowered Funds LLC's holdings in Datadog were worth $1,378,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in DDOG. True Wealth Design LLC boosted its position in Datadog by 12,000.0% during the third quarter. True Wealth Design LLC now owns 242 shares of the company's stock valued at $28,000 after purchasing an additional 240 shares in the last quarter. Retirement Wealth Solutions LLC bought a new stake in Datadog during the fourth quarter valued at about $30,000. Avior Wealth Management LLC boosted its position in Datadog by 55.9% during the fourth quarter. Avior Wealth Management LLC now owns 226 shares of the company's stock valued at $32,000 after purchasing an additional 81 shares in the last quarter. Meeder Asset Management Inc. boosted its position in Datadog by 66.5% during the third quarter. Meeder Asset Management Inc. now owns 288 shares of the company's stock valued at $33,000 after purchasing an additional 115 shares in the last quarter. Finally, Quarry LP bought a new stake in Datadog during the third quarter valued at about $33,000. Institutional investors own 78.29% of the company's stock.

Datadog Stock Down 1.9 %

Shares of Datadog stock traded down $2.47 on Thursday, reaching $126.38. The company's stock had a trading volume of 6,100,966 shares, compared to its average volume of 5,122,352. The company has a market capitalization of $42.93 billion, a P/E ratio of 247.81, a PEG ratio of 28.09 and a beta of 1.15. Datadog, Inc. has a 52-week low of $98.80 and a 52-week high of $170.08. The stock has a 50-day moving average price of $143.45 and a 200-day moving average price of $131.51.

Datadog (NASDAQ:DDOG - Get Free Report) last posted its quarterly earnings data on Thursday, February 13th. The company reported $0.13 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%. Sell-side analysts forecast that Datadog, Inc. will post 0.56 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on DDOG shares. Morgan Stanley reaffirmed an "equal weight" rating and set a $143.00 price objective on shares of Datadog in a research report on Thursday, January 16th. Wolfe Research downgraded Datadog from an "outperform" rating to a "peer perform" rating in a report on Tuesday. BMO Capital Markets raised their price target on Datadog from $135.00 to $145.00 and gave the stock an "outperform" rating in a report on Friday, November 8th. Monness Crespi & Hardt raised Datadog from a "neutral" rating to a "buy" rating and set a $155.00 price target for the company in a report on Thursday, November 7th. Finally, Citigroup lowered their price target on Datadog from $170.00 to $165.00 and set a "buy" rating for the company in a report on Friday, February 14th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, twenty-two have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, Datadog presently has a consensus rating of "Moderate Buy" and an average price target of $158.39.

Insider Transactions at Datadog

In other news, Director Shardul Shah sold 7,916 shares of Datadog 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 sale, the director now directly 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 sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CTO Alexis Le-Quoc sold 127,105 shares of Datadog stock in a transaction that occurred on Wednesday, January 8th. The stock was sold at an average price of $141.21, for a total value of $17,948,497.05. Following the completion of the sale, the chief technology officer now directly owns 324,778 shares in the company, valued at $45,861,901.38. This represents a 28.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 556,674 shares of company stock valued at $82,904,025 over the last ninety days. Insiders own 11.78% of the company's stock.

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.