Cibc World Markets Corp Trims Stake in Datadog, Inc. (NASDAQ:DDOG)

Cibc World Markets Corp reduced its position in Datadog, Inc. (NASDAQ:DDOG) by 14.6% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 19,640 shares of the company’s stock after selling 3,354 shares during the period. Cibc World Markets Corp’s holdings in Datadog were worth $2,806,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Quest Partners LLC lifted its position in Datadog by 2,323.9% during the 3rd quarter. Quest Partners LLC now owns 1,115 shares of the company’s stock worth $128,000 after acquiring an additional 1,069 shares during the period. Pathstone Holdings LLC lifted its position in Datadog by 0.4% during the 3rd quarter. Pathstone Holdings LLC now owns 23,152 shares of the company’s stock worth $2,664,000 after acquiring an additional 91 shares during the period. Meeder Asset Management Inc. lifted its position in Datadog by 66.5% during the 3rd quarter. Meeder Asset Management Inc. now owns 288 shares of the company’s stock worth $33,000 after acquiring an additional 115 shares during the period. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in Datadog during the 3rd quarter worth approximately $1,081,000. Finally, First Horizon Advisors Inc. lifted its position in Datadog by 15.6% during the 3rd quarter. First Horizon Advisors Inc. now owns 940 shares of the company’s stock worth $108,000 after acquiring an additional 127 shares during the period. Institutional investors and hedge funds own 78.29% of the company’s stock.

Insider Buying and Selling at Datadog

In other news, CRO Sean Michael Walters sold 8,454 shares of Datadog stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $102.04, for a total transaction of $862,646.16. Following the sale, the executive now directly owns 185,871 shares of the company’s stock, valued at approximately $18,966,276.84. The trade was a 4.35 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, President Amit Agarwal sold 25,000 shares of Datadog stock in a transaction dated Thursday, December 26th. The stock was sold at an average price of $147.99, for a total value of $3,699,750.00. Following the sale, the president now directly owns 195,667 shares in the company, valued at approximately $28,956,759.33. The trade was a 11.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 626,412 shares of company stock valued at $79,144,334 over the last three months. 11.78% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research firms have weighed in on DDOG. Macquarie reaffirmed an “outperform” rating and set a $200.00 price objective on shares of Datadog in a research report on Tuesday, February 11th. Guggenheim reissued a “neutral” rating on shares of Datadog in a research note on Wednesday, January 22nd. Citigroup cut their target price on Datadog from $170.00 to $165.00 and set a “buy” rating for the company in a research note on Friday, February 14th. Rosenblatt Securities increased their target price on Datadog from $148.00 to $160.00 and gave the stock a “buy” rating in a research note on Wednesday, February 12th. 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 note on Wednesday, January 29th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, twenty-one have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $158.70.

Datadog Price Performance

NASDAQ:DDOG opened at $103.17 on Friday. The business’s 50-day moving average is $127.67 and its two-hundred day moving average is $130.80. Datadog, Inc. has a 12 month low of $98.30 and a 12 month high of $170.08. The firm has a market capitalization of $35.36 billion, a PE ratio of 202.30, a price-to-earnings-growth ratio of 44.03 and a beta of 1.22.

Datadog (NASDAQ:DDOG) 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%. Equities analysts anticipate that Datadog, Inc. will post 0.34 EPS for the current year.

About Datadog

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.