IFP Advisors Inc Trims Position in Datadog, Inc. (NASDAQ:DDOG)

IFP Advisors Inc lowered its holdings in Datadog, Inc. (NASDAQ:DDOG) by 41.6% in the fourth quarter, Holdings Channel.com reports. The firm owned 9,582 shares of the company’s stock after selling 6,827 shares during the period. IFP Advisors Inc’s holdings in Datadog were worth $1,369,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. Y Intercept Hong Kong Ltd boosted its stake in Datadog by 140.1% in the 4th quarter. Y Intercept Hong Kong Ltd now owns 53,116 shares of the company’s stock worth $7,590,000 after buying an additional 30,998 shares during the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund lifted its holdings in shares of Datadog by 2.1% during the 4th quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 62,411 shares of the company’s stock worth $8,918,000 after acquiring an additional 1,300 shares during the period. Howard Capital Management Inc. boosted its position in shares of Datadog by 3.1% in the fourth quarter. Howard Capital Management Inc. now owns 6,727 shares of the company’s stock worth $961,000 after acquiring an additional 202 shares during the last quarter. Valliance Asset Management Ltd purchased a new stake in Datadog in the fourth quarter valued at approximately $3,572,000. Finally, Compass Capital Corp MA ADV acquired a new position in Datadog during the fourth quarter worth approximately $257,000. 78.29% of the stock is currently owned by institutional investors and hedge funds.

Datadog Stock Down 1.4 %

DDOG stock opened at $113.37 on Thursday. The company has a market capitalization of $38.51 billion, a PE ratio of 222.30, a P/E/G ratio of 44.03 and a beta of 1.15. The stock’s 50 day moving average is $139.84 and its two-hundred day moving average is $131.84. Datadog, Inc. has a 52-week low of $98.80 and a 52-week high of $170.08.

Datadog (NASDAQ:DDOG) last issued its quarterly earnings results on Thursday, February 13th. The company reported $0.13 earnings per share (EPS) 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%. As a group, sell-side analysts anticipate that Datadog, Inc. will post 0.34 EPS for the current year.

Insider Activity

In other news, Director Shardul Shah sold 7,916 shares of the business’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $155.25, for a total value of $1,228,959.00. Following the completion of the sale, the director now directly owns 435,701 shares in the company, valued at approximately $67,642,580.25. The trade was a 1.78 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, General Counsel Kerry Acocella sold 2,488 shares of the company’s stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $158.04, for a total value of $393,203.52. Following the sale, the general counsel now directly owns 68,758 shares in the company, valued at approximately $10,866,514.32. This represents a 3.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 556,674 shares of company stock worth $82,904,025. 11.78% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on DDOG. Loop Capital lifted their price target on shares of Datadog from $160.00 to $200.00 and gave the company a “buy” rating in a report on Monday, December 23rd. Stifel Nicolaus cut Datadog from a “buy” rating to a “hold” rating and reduced their target price for the company from $165.00 to $140.00 in a report on Wednesday, January 29th. DA Davidson upped their price target on Datadog from $150.00 to $165.00 and gave the stock a “buy” rating in a research note on Monday, February 10th. JMP Securities reaffirmed a “market perform” rating on shares of Datadog in a research note on Friday, February 14th. Finally, Rosenblatt Securities increased their target price on shares of Datadog from $148.00 to $160.00 and gave the stock a “buy” rating in a research report on Wednesday, February 12th. One investment 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. According to data from MarketBeat, Datadog has an average rating of “Moderate Buy” and a consensus 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.