Datadog, Inc. (NASDAQ:DDOG) Position Trimmed by First Trust Advisors LP

First Trust Advisors LP reduced its holdings in shares of Datadog, Inc. (NASDAQ:DDOG - Free Report) by 16.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,941,229 shares of the company's stock after selling 388,440 shares during the quarter. First Trust Advisors LP owned 0.57% of Datadog worth $277,382,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Retirement Wealth Solutions LLC purchased a new stake in Datadog during the fourth quarter valued at $30,000. Avior Wealth Management LLC grew its holdings in shares of Datadog by 55.9% in the fourth quarter. Avior Wealth Management LLC now owns 226 shares of the company's stock worth $32,000 after purchasing an additional 81 shares during the last quarter. Kieckhefer Group LLC purchased a new stake in shares of Datadog in the 4th quarter worth $43,000. Summit Securities Group LLC bought a new position in Datadog in the fourth quarter worth approximately $43,000. Finally, Friedenthal Financial bought a new stake in Datadog during the fourth quarter valued at about $54,000. Hedge funds and other institutional investors own 78.29% of the company's stock.

Datadog Trading Up 4.3 %

Shares of NASDAQ DDOG traded up $3.94 during midday trading on Wednesday, reaching $95.36. 3,753,082 shares of the company were exchanged, compared to its average volume of 4,345,331. Datadog, Inc. has a 1 year low of $81.63 and a 1 year high of $170.08. The stock has a fifty day simple moving average of $104.68 and a 200 day simple moving average of $127.86. The stock has a market cap of $32.69 billion, a P/E ratio of 186.98, a PEG ratio of 44.03 and a beta of 1.20.

Datadog (NASDAQ:DDOG - Get Free Report) last issued 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, analysts forecast that Datadog, Inc. will post 0.34 earnings per share for the current year.

Insider Activity

In related news, CEO Olivier Pomel sold 11,195 shares of Datadog stock in a transaction 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 transaction, the chief executive officer now owns 379,693 shares in the company, valued at approximately $53,103,862.98. This trade represents a 2.86 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CRO Sean Michael Walters sold 8,454 shares of the stock in a transaction on Tuesday, March 11th. The shares were 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 of the company's stock, valued at approximately $18,966,276.84. This represents a 4.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 523,756 shares of company stock worth $58,732,500 over the last ninety days. 11.78% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. Morgan Stanley cut their price target on shares of Datadog from $143.00 to $115.00 and set an "equal weight" rating on the stock in a report on Wednesday, April 16th. Wolfe Research downgraded Datadog from an "outperform" rating to a "peer perform" rating in a report on Tuesday, February 18th. Scotiabank reduced their target price on Datadog from $155.00 to $125.00 and set a "sector outperform" rating for the company in a research note on Tuesday, April 15th. JMP Securities restated a "market perform" rating on shares of Datadog in a research note on Friday, February 14th. Finally, Cantor Fitzgerald started coverage on shares of Datadog in a research report on Friday, January 17th. They set an "overweight" rating and a $180.00 price target for the company. Seven analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, Datadog has an average rating of "Moderate Buy" and an average price target of $150.33.

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.