Country Trust Bank Trims Stake in Datadog, Inc. (NASDAQ:DDOG)

Country Trust Bank reduced its holdings in shares of Datadog, Inc. (NASDAQ:DDOG - Free Report) by 20.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 270,761 shares of the company's stock after selling 68,216 shares during the quarter. Country Trust Bank owned approximately 0.08% of Datadog worth $38,689,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. True Wealth Design LLC lifted 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 worth $28,000 after acquiring an additional 240 shares during the last quarter. Retirement Wealth Solutions LLC acquired a new stake in Datadog during the 4th quarter worth approximately $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 valued at $32,000 after purchasing an additional 81 shares during the period. 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 valued at $33,000 after purchasing an additional 115 shares during the period. Finally, Quarry LP bought a new stake in shares of Datadog in the third quarter valued at about $33,000. 78.29% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Datadog

In related news, Director Shardul Shah sold 7,916 shares of the stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $155.25, for a total transaction of $1,228,959.00. Following the completion of the sale, the director now directly owns 435,701 shares of the company's stock, valued at approximately $67,642,580.25. This trade represents a 1.78 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Olivier Pomel sold 178,723 shares of Datadog stock in a transaction on Monday, December 9th. The stock was sold at an average price of $161.28, for a total value of $28,824,445.44. Following the sale, the chief executive officer now owns 379,693 shares in the company, valued at $61,236,887.04. The trade was a 32.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 653,874 shares of company stock valued at $93,721,154. 11.78% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on DDOG shares. TD Cowen reissued a "buy" rating and set a $165.00 price target on shares of Datadog in a research report on Tuesday, November 19th. Macquarie started coverage on shares of Datadog in a research report on Thursday, December 12th. They set an "outperform" rating and a $200.00 price objective for the company. Rosenblatt Securities upped their target price on Datadog from $140.00 to $148.00 and gave the stock a "buy" rating in a report on Friday, November 8th. Stifel Nicolaus lowered Datadog from a "buy" rating to a "hold" rating and cut their price target for the company from $165.00 to $140.00 in a research note on Wednesday, January 29th. Finally, Robert W. Baird upped their price objective on Datadog from $140.00 to $150.00 and gave the company an "outperform" rating in a research note on Friday, November 8th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, twenty-five have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $157.59.

Datadog Stock Performance

Shares of Datadog stock traded up $2.67 on Tuesday, hitting $145.83. The company had a trading volume of 2,874,257 shares, compared to its average volume of 4,155,311. Datadog, Inc. has a 1 year low of $98.80 and a 1 year high of $170.08. The stock has a 50 day moving average of $147.72 and a 200-day moving average of $129.71. The stock has a market capitalization of $49.54 billion, a price-to-earnings ratio of 275.16, a P/E/G ratio of 16.59 and a beta of 1.15.

Datadog Company 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.