Private Advisor Group LLC Sells 2,983 Shares of Datadog, Inc. (NASDAQ:DDOG)

Private Advisor Group LLC trimmed its stake in Datadog, Inc. (NASDAQ:DDOG - Free Report) by 11.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 23,422 shares of the company's stock after selling 2,983 shares during the period. Private Advisor Group LLC's holdings in Datadog were worth $3,347,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in DDOG. Allworth Financial LP grew its position in Datadog by 7.7% during the fourth quarter. Allworth Financial LP now owns 1,043 shares of the company's stock worth $146,000 after buying an additional 75 shares in the last quarter. Spire Wealth Management increased its position in shares of Datadog by 21.4% during the fourth quarter. Spire Wealth Management now owns 453 shares of the company's stock valued at $65,000 after purchasing an additional 80 shares during the period. Avior Wealth Management LLC raised its stake in shares of 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 purchasing an additional 81 shares in the last quarter. Pathstone Holdings LLC raised its stake in shares of Datadog by 0.4% in the third quarter. Pathstone Holdings LLC now owns 23,152 shares of the company's stock valued at $2,664,000 after purchasing an additional 91 shares in the last quarter. Finally, Parsons Capital Management Inc. RI lifted its position in Datadog by 2.0% in the fourth quarter. Parsons Capital Management Inc. RI now owns 4,943 shares of the company's stock worth $706,000 after purchasing an additional 96 shares during the period. Institutional investors own 78.29% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on DDOG. Royal Bank of Canada increased their price objective on shares of Datadog from $151.00 to $170.00 and gave the company an "outperform" rating in a research note on Friday, January 3rd. TD Cowen reissued a "buy" rating and issued a $165.00 price target on shares of Datadog in a research report on Tuesday, November 19th. Truist Financial decreased their price objective on Datadog from $150.00 to $140.00 and set a "hold" rating on the stock in a report on Friday, February 14th. Cantor Fitzgerald began coverage on Datadog in a report on Friday, January 17th. They issued an "overweight" rating and a $180.00 target price for the company. Finally, Stifel Nicolaus downgraded Datadog from a "buy" rating to a "hold" rating and cut their target price for the stock from $165.00 to $140.00 in a research report on Wednesday, January 29th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, twenty-one have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, Datadog has an average rating of "Moderate Buy" and an average price target of $158.70.

Insider Activity

In other Datadog news, General Counsel Kerry Acocella sold 2,488 shares of the business's stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $158.04, for a total value of $393,203.52. Following the completion of 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Alexis Le-Quoc sold 127,105 shares of the firm's stock in a transaction dated Wednesday, January 8th. The stock was sold at an average price of $141.21, for a total value of $17,948,497.05. Following the sale, the chief technology officer now directly owns 324,778 shares in the company, valued at approximately $45,861,901.38. This represents a 28.13 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 556,674 shares of company stock valued at $82,904,025 in the last quarter. Company insiders own 11.78% of the company's stock.

Datadog Stock Performance

NASDAQ:DDOG traded up $0.16 during mid-day trading on Thursday, hitting $113.53. The company had a trading volume of 5,099,942 shares, compared to its average volume of 5,330,145. The firm has a market cap of $38.57 billion, a P/E ratio of 222.61, a P/E/G ratio of 44.03 and a beta of 1.15. Datadog, Inc. has a fifty-two week low of $98.80 and a fifty-two week high of $170.08. The business's fifty day moving average is $139.84 and its two-hundred day moving average is $131.84.

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 net margin of 6.85% and a return on equity of 8.28%. Equities analysts forecast that Datadog, Inc. will post 0.34 earnings per share for the current 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.