Datadog, Inc. (NASDAQ:DDOG) Shares Sold by Prudential Financial Inc.

Prudential Financial Inc. decreased its stake in Datadog, Inc. (NASDAQ:DDOG - Free Report) by 23.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 102,400 shares of the company's stock after selling 32,085 shares during the quarter. Prudential Financial Inc.'s holdings in Datadog were worth $14,632,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of DDOG. Quest Partners LLC raised its holdings in shares of Datadog by 2,323.9% during the third quarter. Quest Partners LLC now owns 1,115 shares of the company's stock valued at $128,000 after acquiring an additional 1,069 shares during the last quarter. Cerity Partners LLC lifted its holdings in Datadog by 33.9% in the 3rd quarter. Cerity Partners LLC now owns 40,752 shares of the company's stock valued at $4,689,000 after purchasing an additional 10,318 shares in the last quarter. Larson Financial Group LLC boosted its stake in Datadog by 3,718.2% during the 3rd quarter. Larson Financial Group LLC now owns 840 shares of the company's stock worth $97,000 after purchasing an additional 818 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Datadog during the third quarter worth $780,000. Finally, Loomis Sayles & Co. L P acquired a new stake in shares of Datadog in the third quarter valued at about $334,000. Institutional investors and hedge funds own 78.29% of the company's stock.

Datadog Stock Performance

Shares of DDOG traded up $1.85 during midday trading on Tuesday, hitting $101.06. The company had a trading volume of 4,185,005 shares, compared to its average volume of 4,197,008. The company's 50-day simple moving average is $122.26 and its 200-day simple moving average is $130.82. Datadog, Inc. has a 1 year low of $96.63 and a 1 year high of $170.08. The firm has a market capitalization of $34.64 billion, a P/E ratio of 198.16, a P/E/G ratio of 44.03 and a beta of 1.22.

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Datadog (NASDAQ:DDOG - Get Free Report) last announced its quarterly earnings data on Thursday, February 13th. The company reported $0.13 EPS 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 predict that Datadog, Inc. will post 0.34 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CRO Sean Michael Walters sold 8,454 shares of the company's stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $102.04, for a total value of $862,646.16. Following the completion of the transaction, the executive now owns 185,871 shares in the company, valued at approximately $18,966,276.84. This represents a 4.35 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CTO Alexis Le-Quoc sold 127,105 shares of Datadog stock in a transaction on Wednesday, January 8th. The stock was sold at an average price of $141.21, for a total transaction of $17,948,497.05. Following the sale, the chief technology officer now owns 324,778 shares in the company, valued at $45,861,901.38. This represents a 28.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 601,412 shares of company stock valued at $75,444,584 in the last ninety days. Insiders own 11.78% of the company's stock.

Analysts Set New Price Targets

DDOG has been the subject of several research reports. Citigroup dropped their price objective on shares of Datadog from $170.00 to $165.00 and set a "buy" rating for the company in a research note on Friday, February 14th. Needham & Company LLC restated a "buy" rating and issued a $160.00 price target on shares of Datadog in a research report on Tuesday, March 4th. JMP Securities reiterated a "market perform" rating on shares of Datadog in a research report on Friday, February 14th. Cantor Fitzgerald initiated 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, DA Davidson raised their target price on Datadog from $150.00 to $165.00 and gave the stock a "buy" rating in a research note on Monday, February 10th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, twenty-one have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $157.22.

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.