Handelsbanken Fonder AB Cuts Stake in Datadog, Inc. (NASDAQ:DDOG)

Handelsbanken Fonder AB reduced its position in Datadog, Inc. (NASDAQ:DDOG - Free Report) by 6.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 81,426 shares of the company's stock after selling 5,671 shares during the quarter. Handelsbanken Fonder AB's holdings in Datadog were worth $11,635,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Creative Planning boosted its holdings in shares of Datadog by 17.6% in the 3rd quarter. Creative Planning now owns 17,141 shares of the company's stock valued at $1,972,000 after purchasing an additional 2,563 shares in the last quarter. Blue Trust Inc. boosted its stake in Datadog by 80.3% in the third quarter. Blue Trust Inc. now owns 539 shares of the company's stock valued at $62,000 after buying an additional 240 shares in the last quarter. International Assets Investment Management LLC bought a new position in Datadog in the third quarter valued at about $4,038,000. Hennion & Walsh Asset Management Inc. raised its stake in Datadog by 40.5% during the third quarter. Hennion & Walsh Asset Management Inc. now owns 4,801 shares of the company's stock worth $552,000 after acquiring an additional 1,383 shares in the last quarter. Finally, IFM Investors Pty Ltd lifted its holdings in shares of Datadog by 0.6% in the third quarter. IFM Investors Pty Ltd now owns 53,558 shares of the company's stock worth $6,162,000 after acquiring an additional 318 shares during the last quarter. Institutional investors and hedge funds own 78.29% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on DDOG. Cantor Fitzgerald assumed coverage on Datadog in a research note on Friday, January 17th. They issued an "overweight" rating and a $180.00 price target for the company. TD Cowen reissued a "buy" rating and set a $165.00 price objective on shares of Datadog in a report on Tuesday, November 19th. BMO Capital Markets upped their target price on Datadog from $135.00 to $145.00 and gave the company an "outperform" rating in a report on Friday, November 8th. Wells Fargo & Company downgraded Datadog from an "overweight" rating to an "equal weight" rating and reduced their price objective for the company from $152.00 to $140.00 in a research note on Thursday, February 13th. Finally, Monness Crespi & Hardt upgraded Datadog from a "neutral" rating to a "buy" rating and set a $155.00 target price on the stock in a research note on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, twenty-one have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $158.70.

Datadog Stock Performance

DDOG stock traded down $1.61 during trading on Wednesday, hitting $113.37. 6,556,820 shares of the company traded hands, compared to its average volume of 5,302,092. The company has a 50-day moving average of $140.58 and a 200-day moving average of $131.97. The firm has a market capitalization of $38.51 billion, a PE ratio of 222.30, a P/E/G ratio of 44.03 and a beta of 1.15. Datadog, Inc. has a 1 year low of $98.80 and a 1 year high of $170.08.

Datadog (NASDAQ:DDOG - Get Free Report) last announced its quarterly 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%. Sell-side analysts expect that Datadog, Inc. will post 0.34 EPS for the current year.

Insider Transactions at Datadog

In other Datadog news, General Counsel Kerry Acocella sold 2,488 shares of the business's stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $158.04, for a total transaction of $393,203.52. Following the transaction, the general counsel now directly owns 68,758 shares of the company's stock, valued at approximately $10,866,514.32. The trade was a 3.49 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Olivier Pomel sold 178,723 shares of Datadog stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $161.28, for a total transaction of $28,824,445.44. Following the sale, the chief executive officer now directly owns 379,693 shares in the company, valued at $61,236,887.04. The trade was a 32.01 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 556,674 shares of company stock worth $82,904,025. 11.78% of the stock is currently owned by insiders.

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.