Nikko Asset Management Americas Inc. Trims Position in Datadog, Inc. (NASDAQ:DDOG)

Nikko Asset Management Americas Inc. decreased its holdings in Datadog, Inc. (NASDAQ:DDOG - Free Report) by 14.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 197,085 shares of the company's stock after selling 32,235 shares during the quarter. Nikko Asset Management Americas Inc. owned approximately 0.06% of Datadog worth $28,140,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. True Wealth Design LLC grew its position 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 buying an additional 240 shares during the last quarter. Retirement Wealth Solutions LLC acquired a new position in shares of Datadog in the fourth quarter worth approximately $30,000. Avior Wealth Management LLC boosted its holdings in Datadog by 55.9% in the fourth quarter. Avior Wealth Management LLC now owns 226 shares of the company's stock valued at $32,000 after acquiring an additional 81 shares during the last quarter. Meeder Asset Management Inc. increased its position in Datadog by 66.5% during 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 bought a new position in Datadog during the 3rd quarter worth approximately $33,000. 78.29% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CRO Sean Michael Walters sold 8,454 shares of Datadog stock in a transaction dated Tuesday, March 11th. The stock was 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 trade represents a 4.35 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Shardul Shah sold 7,916 shares of the company's stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $142.12, for a total transaction of $1,125,021.92. Following the sale, the director now owns 427,785 shares in the company, valued at $60,796,804.20. The trade was a 1.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 626,412 shares of company stock valued at $79,144,334. Company insiders own 11.78% of the company's stock.

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Datadog Price Performance

Shares of NASDAQ DDOG traded up $1.15 during midday trading on Wednesday, reaching $104.08. The company's stock had a trading volume of 1,489,524 shares, compared to its average volume of 4,056,574. The stock has a market capitalization of $35.68 billion, a P/E ratio of 204.81, a PEG ratio of 44.03 and a beta of 1.22. The firm has a 50 day moving average price of $129.20 and a 200-day moving average price of $131.18. Datadog, Inc. has a 12-month low of $98.30 and a 12-month high of $170.08.

Datadog (NASDAQ:DDOG - Get Free Report) last posted its quarterly earnings data 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 return on equity of 8.28% and a net margin of 6.85%. On average, equities analysts predict that Datadog, Inc. will post 0.34 EPS for the current year.

Wall Street Analyst Weigh In

DDOG has been the topic of a number of analyst reports. Needham & Company LLC reaffirmed a "buy" rating and issued a $160.00 price objective on shares of Datadog in a research note on Tuesday, March 4th. Mizuho increased their price target on Datadog from $155.00 to $170.00 and gave the stock an "outperform" rating in a report on Friday, December 13th. Wells Fargo & Company lowered Datadog from an "overweight" rating to an "equal weight" rating and lowered their price objective for the stock from $152.00 to $140.00 in a research report on Thursday, February 13th. Morgan Stanley restated an "equal weight" rating and set a $143.00 target price on shares of Datadog in a research report on Thursday, January 16th. Finally, Wolfe Research downgraded Datadog from an "outperform" rating to a "peer perform" rating in a report on Tuesday, February 18th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, twenty-one have issued a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $158.70.

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.