Los Angeles Capital Management LLC Trims Stock Holdings in Datadog, Inc. (NASDAQ:DDOG)

Los Angeles Capital Management LLC cut its holdings in Datadog, Inc. (NASDAQ:DDOG - Free Report) by 78.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,389 shares of the company's stock after selling 30,452 shares during the quarter. Los Angeles Capital Management LLC's holdings in Datadog were worth $1,199,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Jennison Associates LLC grew its stake in shares of Datadog by 47.9% during the 4th quarter. Jennison Associates LLC now owns 9,278,648 shares of the company's stock worth $1,325,826,000 after purchasing an additional 3,005,300 shares during the period. Baillie Gifford & Co. grew its position in Datadog by 15.8% during the fourth quarter. Baillie Gifford & Co. now owns 10,905,133 shares of the company's stock worth $1,558,234,000 after buying an additional 1,484,562 shares during the period. Holocene Advisors LP increased its holdings in Datadog by 205.2% in the third quarter. Holocene Advisors LP now owns 1,632,870 shares of the company's stock valued at $187,878,000 after buying an additional 1,097,815 shares in the last quarter. Champlain Investment Partners LLC acquired a new stake in shares of Datadog during the 3rd quarter valued at approximately $52,561,000. Finally, Eagle Asset Management Inc. lifted its position in shares of Datadog by 72.4% during the 3rd quarter. Eagle Asset Management Inc. now owns 914,776 shares of the company's stock valued at $113,844,000 after acquiring an additional 384,121 shares during the period. Institutional investors and hedge funds own 78.29% of the company's stock.

Datadog Trading Down 1.5 %

DDOG traded down $1.78 during trading on Monday, hitting $114.77. 2,070,006 shares of the company's stock were exchanged, compared to its average volume of 3,990,727. 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 price of $138.51 and a 200 day moving average price of $131.99. The firm has a market cap of $38.99 billion, a P/E ratio of 225.72, a price-to-earnings-growth ratio of 44.03 and a beta of 1.15.

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 analysts' consensus estimates of $0.44 by ($0.31). Datadog had a return on equity of 8.28% and a net margin of 6.85%. Analysts forecast that Datadog, Inc. will post 0.34 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on DDOG shares. Stifel Nicolaus downgraded Datadog from a "buy" rating to a "hold" rating and dropped their price objective for the company from $165.00 to $140.00 in a research note on Wednesday, January 29th. Guggenheim restated a "neutral" rating on shares of Datadog in a research report on Wednesday, January 22nd. Wells Fargo & Company downgraded Datadog from an "overweight" rating to an "equal weight" rating and cut their price target for the stock from $152.00 to $140.00 in a research note on Thursday, February 13th. Cantor Fitzgerald began coverage on shares of Datadog in a research note on Friday, January 17th. They issued an "overweight" rating and a $180.00 price objective on the stock. Finally, Rosenblatt Securities raised their price target on Datadog from $148.00 to $160.00 and gave the stock a "buy" rating in a research report on Wednesday, February 12th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, twenty-one have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, Datadog has an average rating of "Moderate Buy" and a consensus target price of $158.70.

Insider Transactions at Datadog

In other news, Director Shardul Shah sold 7,916 shares of the business's stock in a transaction on Monday, December 16th. The shares were sold at an average price of $155.25, for a total transaction of $1,228,959.00. Following the transaction, the director now directly owns 435,701 shares of the company's stock, valued at approximately $67,642,580.25. The trade was a 1.78 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, General Counsel Kerry Acocella sold 2,488 shares of the firm'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 sale, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold 556,674 shares of company stock valued at $82,904,025 over the last quarter. Company insiders own 11.78% of the company's stock.

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.