First Citizens Bank & Trust Co. Sells 43,354 Shares of Datadog, Inc. (NASDAQ:DDOG)

First Citizens Bank & Trust Co. lessened its stake in shares of Datadog, Inc. (NASDAQ:DDOG - Free Report) by 51.8% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 40,356 shares of the company's stock after selling 43,354 shares during the period. First Citizens Bank & Trust Co.'s holdings in Datadog were worth $5,766,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. True Wealth Design LLC increased its stake in shares of Datadog by 12,000.0% in the 3rd quarter. True Wealth Design LLC now owns 242 shares of the company's stock valued at $28,000 after purchasing an additional 240 shares during the last quarter. Retirement Wealth Solutions LLC acquired a new position in Datadog during the 4th quarter worth about $30,000. Avior Wealth Management LLC lifted its stake in shares of 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. lifted its stake in shares of 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 acquired a new position in shares of Datadog in the 3rd quarter valued at about $33,000. Institutional investors own 78.29% of the company's stock.

Insiders Place Their Bets

In other news, Director Matthew Jacobson sold 3,393 shares of Datadog stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $125.03, for a total value of $424,226.79. Following the transaction, the director now owns 695,086 shares in the company, valued at approximately $86,906,602.58. The trade was a 0.49 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CTO Alexis Le-Quoc sold 127,105 shares of Datadog stock in a transaction dated 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 transaction, the chief technology officer now owns 324,778 shares in the company, valued at approximately $45,861,901.38. This represents a 28.13 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 642,679 shares of company stock valued at $92,155,421 over the last 90 days. Insiders own 11.78% of the company's stock.

Analyst Upgrades and Downgrades

DDOG has been the topic of a number of research reports. TD Cowen reaffirmed a "buy" rating and set a $165.00 price target on shares of Datadog in a research note on Tuesday, November 19th. Robert W. Baird upped their price target on Datadog from $140.00 to $150.00 and gave the stock an "outperform" rating in a research note on Friday, November 8th. BMO Capital Markets upped their price target on Datadog from $135.00 to $145.00 and gave the stock an "outperform" rating in a research note on Friday, November 8th. Jefferies Financial Group upped their price target on Datadog from $155.00 to $170.00 and gave the stock a "buy" rating in a research note on Monday, January 6th. Finally, Stifel Nicolaus upped their price target on Datadog from $141.00 to $165.00 and gave the stock a "buy" rating in a research note on Wednesday, December 18th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, twenty-six have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $158.45.

Datadog Price Performance

DDOG stock traded up $0.79 during mid-day trading on Friday, hitting $140.99. 2,884,911 shares of the stock were exchanged, compared to its average volume of 2,608,238. The business has a fifty day moving average price of $147.36 and a 200 day moving average price of $128.89. Datadog, Inc. has a 12 month low of $98.80 and a 12 month high of $170.08. The stock has a market capitalization of $47.90 billion, a price-to-earnings ratio of 266.02, a PEG ratio of 16.28 and a beta of 1.14.

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.