Pictet Asset Management Holding SA Sells 9,534 Shares of Datadog, Inc. (NASDAQ:DDOG)

Pictet Asset Management Holding SA cut its holdings in Datadog, Inc. (NASDAQ:DDOG - Free Report) by 1.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 763,724 shares of the company's stock after selling 9,534 shares during the period. Pictet Asset Management Holding SA owned 0.22% of Datadog worth $109,129,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the business. Vanguard Group Inc. boosted its holdings in shares of Datadog by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 30,354,229 shares of the company's stock worth $4,337,316,000 after acquiring an additional 220,527 shares during the period. Baillie Gifford & Co. boosted its stake in Datadog by 15.8% in the 4th quarter. Baillie Gifford & Co. now owns 10,905,133 shares of the company's stock worth $1,558,234,000 after purchasing an additional 1,484,562 shares during the period. Jennison Associates LLC grew its holdings in Datadog by 47.9% during the 4th quarter. Jennison Associates LLC now owns 9,278,648 shares of the company's stock valued at $1,325,826,000 after buying an additional 3,005,300 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Datadog by 2.5% during the third quarter. Geode Capital Management LLC now owns 5,185,557 shares of the company's stock valued at $595,438,000 after buying an additional 125,457 shares during the period. Finally, Norges Bank purchased a new stake in shares of Datadog in the fourth quarter worth about $462,910,000. 78.29% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

DDOG has been the topic of a number of analyst reports. Cantor Fitzgerald started coverage on shares of Datadog in a report on Friday, January 17th. They set an "overweight" rating and a $180.00 target price on the stock. Wells Fargo & Company cut shares of Datadog from an "overweight" rating to an "equal weight" rating and decreased their price target for the stock from $152.00 to $140.00 in a report on Thursday, February 13th. 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 research report on Friday, January 3rd. JMP Securities restated a "market perform" rating on shares of Datadog in a research report on Friday, February 14th. Finally, Wolfe Research cut Datadog from an "outperform" rating to a "peer perform" rating in a report on Tuesday, February 18th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, twenty-one have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, Datadog has an average rating of "Moderate Buy" and an average target price of $157.22.

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Datadog Stock Performance

Shares of NASDAQ DDOG traded up $0.96 during trading hours on Wednesday, hitting $102.02. The company's stock had a trading volume of 1,873,267 shares, compared to its average volume of 4,188,232. Datadog, Inc. has a 12 month low of $96.63 and a 12 month high of $170.08. The stock has a market cap of $34.97 billion, a price-to-earnings ratio of 200.04, a P/E/G ratio of 44.03 and a beta of 1.22. The business has a 50-day simple moving average of $122.26 and a 200-day simple moving average of $130.82.

Datadog (NASDAQ:DDOG - Get Free Report) last issued its quarterly earnings data 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%. On average, equities research analysts forecast that Datadog, Inc. will post 0.34 EPS for the current year.

Insider Buying and Selling at Datadog

In related news, CTO Alexis Le-Quoc sold 127,105 shares of the company's stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $102.15, for a total value of $12,983,775.75. Following the sale, the chief technology officer now directly owns 371,865 shares of the company's stock, valued at $37,986,009.75. This represents a 25.47 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Olivier Pomel sold 11,195 shares of the 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 completion of the transaction, the chief executive officer now owns 379,693 shares of the company's stock, valued at approximately $53,103,862.98. This trade represents a 2.86 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 601,412 shares of company stock valued at $75,444,584. 11.78% of the stock is currently owned by company insiders.

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.