Quantbot Technologies LP Sells 59,168 Shares of Datadog, Inc. (NASDAQ:DDOG)

Quantbot Technologies LP lowered its holdings in Datadog, Inc. (NASDAQ:DDOG - Free Report) by 82.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,761 shares of the company's stock after selling 59,168 shares during the period. Quantbot Technologies LP's holdings in Datadog were worth $1,823,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in DDOG. Proficio Capital Partners LLC acquired a new position in shares of Datadog during the 4th quarter worth approximately $14,884,000. ARK Investment Management LLC raised its position in Datadog by 62.7% during the fourth quarter. ARK Investment Management LLC now owns 127,290 shares of the company's stock worth $18,188,000 after acquiring an additional 49,050 shares in the last quarter. Y Intercept Hong Kong Ltd increased its stake in shares of Datadog by 140.1% during the 4th quarter. Y Intercept Hong Kong Ltd now owns 53,116 shares of the company's stock worth $7,590,000 after purchasing an additional 30,998 shares during the last quarter. Baillie Gifford & Co. lifted 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 valued at $1,558,234,000 after purchasing an additional 1,484,562 shares during the last quarter. Finally, Atom Investors LP acquired a new position in shares of Datadog during the 3rd quarter worth approximately $1,112,000. 78.29% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Wells Fargo & Company lowered shares of Datadog from an "overweight" rating to an "equal weight" rating and dropped their price objective for the company from $152.00 to $140.00 in a research report on Thursday, February 13th. Stifel Nicolaus cut Datadog from a "buy" rating to a "hold" rating and dropped their price target for the stock from $165.00 to $140.00 in a report on Wednesday, January 29th. Needham & Company LLC reissued a "buy" rating and issued a $160.00 target price on shares of Datadog in a research report on Tuesday, March 4th. Loop Capital raised their price objective on Datadog from $160.00 to $200.00 and gave the stock a "buy" rating in a research note on Monday, December 23rd. Finally, Macquarie restated an "outperform" rating and issued a $200.00 target price on shares of Datadog in a research report on Tuesday, February 11th. One 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, the stock currently has an average rating of "Moderate Buy" and an average target price of $158.70.

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Datadog Price Performance

Shares of DDOG stock traded down $3.12 on Thursday, reaching $104.85. 2,697,693 shares of the company were exchanged, compared to its average volume of 4,099,650. The company has a 50-day moving average of $125.18 and a 200-day moving average of $130.87. The company has a market cap of $35.94 billion, a price-to-earnings ratio of 205.59, a PEG ratio of 44.03 and a beta of 1.22. Datadog, Inc. has a one year low of $98.30 and a one year high of $170.08.

Datadog (NASDAQ:DDOG - Get Free Report) last released its quarterly earnings data on Thursday, February 13th. The company reported $0.13 EPS for the quarter, missing the consensus estimate of $0.44 by ($0.31). Datadog had a net margin of 6.85% and a return on equity of 8.28%. As a group, sell-side analysts predict that Datadog, Inc. will post 0.34 EPS for the current year.

Insider Activity at Datadog

In related news, Director Shardul Shah sold 7,916 shares of the business's stock in a transaction dated 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 transaction, the director now directly owns 427,785 shares in the company, valued at approximately $60,796,804.20. The trade was a 1.82 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO Alexis Le-Quoc sold 127,105 shares of the business's stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $142.78, for a total value of $18,148,051.90. Following the completion of the transaction, the chief technology officer now owns 324,778 shares in the company, valued at $46,371,802.84. The trade was a 28.13 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 601,412 shares of company stock valued at $75,444,584. 11.78% of the stock is owned by insiders.

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.