Datadog, Inc. (NASDAQ:DDOG) Shares Sold by Price T Rowe Associates Inc. MD

Price T Rowe Associates Inc. MD decreased its holdings in Datadog, Inc. (NASDAQ:DDOG - Free Report) by 22.5% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 5,468,189 shares of the company's stock after selling 1,591,834 shares during the quarter. Price T Rowe Associates Inc. MD owned 1.61% of Datadog worth $781,350,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Groupama Asset Managment grew its holdings in shares of Datadog by 407.6% in the 4th quarter. Groupama Asset Managment now owns 6,600,000 shares of the company's stock worth $943,074,000 after acquiring an additional 5,299,688 shares during the last quarter. Norges Bank acquired a new position in shares of Datadog in the 4th quarter valued at $462,910,000. Jennison Associates LLC increased its stake in Datadog by 47.9% in the 4th quarter. Jennison Associates LLC now owns 9,278,648 shares of the company's stock worth $1,325,826,000 after purchasing an additional 3,005,300 shares in the last quarter. Baillie Gifford & Co. raised its holdings in Datadog by 15.8% during the 4th quarter. Baillie Gifford & Co. now owns 10,905,133 shares of the company's stock worth $1,558,234,000 after buying an additional 1,484,562 shares during the period. Finally, William Blair Investment Management LLC purchased a new stake in Datadog during the fourth quarter valued at about $173,163,000. Institutional investors own 78.29% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Jefferies Financial Group restated a "buy" rating and set a $135.00 price target (down previously from $150.00) on shares of Datadog in a report on Monday, April 7th. Scotiabank reduced their target price on Datadog from $155.00 to $125.00 and set a "sector outperform" rating for the company in a report on Tuesday, April 15th. Cantor Fitzgerald initiated coverage on Datadog in a research report on Friday, January 17th. They issued an "overweight" rating and a $180.00 target price for the company. UBS Group dropped their price target on Datadog from $164.00 to $120.00 and set a "buy" rating on the stock in a research report on Tuesday, April 15th. Finally, Rosenblatt Securities raised their price objective on Datadog from $148.00 to $160.00 and gave the stock a "buy" rating in a research report on Wednesday, February 12th. Seven analysts have rated the stock with a hold rating, twenty-two have given a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $150.33.

Insider Activity at Datadog

In other Datadog news, CRO Sean Michael Walters sold 8,454 shares of the company's stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $102.04, for a total value of $862,646.16. Following the completion of the transaction, the executive now owns 185,871 shares of the company's stock, valued at $18,966,276.84. This represents a 4.35 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Olivier Pomel sold 11,195 shares of Datadog stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $139.86, for a total value of $1,565,732.70. Following the sale, the chief executive officer now directly owns 379,693 shares in the company, valued at $53,103,862.98. The trade was a 2.86 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 523,756 shares of company stock worth $58,732,500 in the last 90 days. 11.78% of the stock is owned by company insiders.

Datadog Stock Up 3.5 %

Shares of DDOG stock opened at $94.58 on Thursday. The business's 50 day moving average is $103.95 and its two-hundred day moving average is $127.63. Datadog, Inc. has a 12 month low of $81.63 and a 12 month high of $170.08. The company has a market cap of $32.42 billion, a PE ratio of 185.45, a price-to-earnings-growth ratio of 44.03 and a beta of 1.20.

Datadog (NASDAQ:DDOG - Get Free Report) last announced its earnings results on Thursday, February 13th. The company reported $0.13 EPS for the quarter, missing the consensus estimate of $0.44 by ($0.31). Datadog had a return on equity of 8.28% and a net margin of 6.85%. As a group, equities analysts expect that Datadog, Inc. will post 0.34 EPS for the current fiscal year.

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.

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