Tenere Capital LLC Lowers Stock Position in Datadog, Inc. (NASDAQ:DDOG)

Tenere Capital LLC decreased its stake in shares of Datadog, Inc. (NASDAQ:DDOG - Free Report) by 21.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 96,719 shares of the company's stock after selling 26,045 shares during the period. Datadog comprises 3.7% of Tenere Capital LLC's portfolio, making the stock its 14th largest holding. Tenere Capital LLC's holdings in Datadog were worth $13,820,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the stock. Proficio Capital Partners LLC bought a new position in shares of Datadog in the 4th quarter worth approximately $14,884,000. ARK Investment Management LLC raised its position in Datadog by 62.7% in the fourth quarter. ARK Investment Management LLC now owns 127,290 shares of the company's stock worth $18,188,000 after acquiring an additional 49,050 shares during the period. Y Intercept Hong Kong Ltd boosted its stake in shares of Datadog by 140.1% during the 4th quarter. Y Intercept Hong Kong Ltd now owns 53,116 shares of the company's stock worth $7,590,000 after acquiring an additional 30,998 shares during the last quarter. Baillie Gifford & Co. grew its position in shares of Datadog by 15.8% during the 4th quarter. Baillie Gifford & Co. now owns 10,905,133 shares of the company's stock valued at $1,558,234,000 after acquiring an additional 1,484,562 shares during the period. Finally, Cullen Frost Bankers Inc. increased its stake in shares of Datadog by 3.5% in the 4th quarter. Cullen Frost Bankers Inc. now owns 72,489 shares of the company's stock worth $10,358,000 after purchasing an additional 2,451 shares in the last quarter. Institutional investors own 78.29% of the company's stock.

Datadog Trading Up 1.9 %

Shares of NASDAQ DDOG traded up $1.92 during trading hours on Friday, hitting $101.52. 3,025,472 shares of the company traded hands, compared to its average volume of 4,357,498. The stock has a market capitalization of $34.80 billion, a price-to-earnings ratio of 199.06, a price-to-earnings-growth ratio of 44.03 and a beta of 1.20. The company's 50 day moving average price is $103.32 and its 200 day moving average price is $127.47. Datadog, Inc. has a 12 month low of $81.63 and a 12 month 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 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%. Equities analysts anticipate that Datadog, Inc. will post 0.34 EPS for the current year.

Analyst Ratings Changes

Several equities analysts recently weighed in on DDOG shares. Morgan Stanley lowered their target price on Datadog from $143.00 to $115.00 and set an "equal weight" rating on the stock in a research report on Wednesday, April 16th. Stifel Nicolaus downgraded Datadog from a "buy" rating to a "hold" rating and cut their price objective for the company from $165.00 to $140.00 in a research note on Wednesday, January 29th. UBS Group reduced their target price on shares of Datadog from $164.00 to $120.00 and set a "buy" rating for the company in a report on Tuesday, April 15th. Rosenblatt Securities lifted their price target on shares of Datadog from $148.00 to $160.00 and gave the company a "buy" rating in a report on Wednesday, February 12th. Finally, DA Davidson reduced their price objective on shares of Datadog from $165.00 to $115.00 and set a "buy" rating for the company in a research note on Monday, April 14th. Seven investment analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $150.33.

Insider Buying and Selling

In related news, CRO Sean Michael Walters sold 8,454 shares of the business'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 sale, the executive now owns 185,871 shares in the company, valued at approximately $18,966,276.84. The trade was a 4.35 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Alexis Le-Quoc sold 127,105 shares of the firm's stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $142.78, for a total value of $18,148,051.90. Following the transaction, the chief technology officer now owns 324,778 shares in the company, valued at $46,371,802.84. The trade was a 28.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 523,756 shares of company stock valued at $58,732,500. 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.