Kayne Anderson Rudnick Investment Management LLC Decreases Stake in Datadog, Inc. (NASDAQ:DDOG)

Kayne Anderson Rudnick Investment Management LLC reduced its holdings in Datadog, Inc. (NASDAQ:DDOG - Free Report) by 4.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 310,845 shares of the company's stock after selling 13,873 shares during the quarter. Kayne Anderson Rudnick Investment Management LLC owned about 0.09% of Datadog worth $44,417,000 at the end of the most recent quarter.

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

Insider Buying and Selling at Datadog

In related news, Director Amit Agarwal sold 10,167 shares of the business's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $115.86, for a total transaction of $1,177,948.62. Following the transaction, the director now directly owns 82,324 shares in the company, valued at approximately $9,538,058.64. The trade was a 10.99 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CTO Alexis Le-Quoc sold 127,105 shares of Datadog stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $142.78, for a total transaction of $18,148,051.90. Following the sale, the chief technology officer now directly owns 324,778 shares in the company, valued at approximately $46,371,802.84. The trade was a 28.13 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 523,756 shares of company stock worth $58,732,500. Insiders own 11.78% of the company's stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on DDOG. Wells Fargo & Company downgraded shares of Datadog from an "overweight" rating to an "equal weight" rating and reduced their price target for the company from $152.00 to $140.00 in a report on Thursday, February 13th. Citigroup decreased their price target on shares of Datadog from $170.00 to $165.00 and set a "buy" rating on the stock in a research report on Friday, February 14th. Truist Financial dropped their target price on shares of Datadog from $140.00 to $120.00 and set a "hold" rating on the stock in a research report on Monday, March 31st. Scotiabank dropped their target price on Datadog from $155.00 to $125.00 and set a "sector outperform" rating on the stock in a report on Tuesday, April 15th. Finally, Royal Bank of Canada increased their price objective on Datadog from $151.00 to $170.00 and gave the stock an "outperform" rating in a report on Friday, January 3rd. Seven equities research analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, Datadog currently has a consensus rating of "Moderate Buy" and a consensus target price of $150.33.

Datadog Stock Performance

Shares of DDOG stock traded up $3.16 on Wednesday, reaching $94.58. The stock had a trading volume of 5,867,770 shares, compared to its average volume of 4,350,557. The stock has a market cap of $32.42 billion, a P/E ratio of 185.45, a price-to-earnings-growth ratio of 44.03 and a beta of 1.20. The company has a 50 day simple moving average of $104.68 and a 200 day simple moving average of $127.86. Datadog, Inc. has a 1 year low of $81.63 and a 1 year high of $170.08.

Datadog (NASDAQ:DDOG - Get Free Report) last issued its earnings results on Thursday, February 13th. The company reported $0.13 earnings per share (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%. On average, equities research analysts anticipate that Datadog, Inc. will post 0.34 earnings per share for the current fiscal year.

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.