Artisan Partners Limited Partnership Sells 577,671 Shares of Datadog, Inc. (NASDAQ:DDOG)

Artisan Partners Limited Partnership cut its holdings in shares of Datadog, Inc. (NASDAQ:DDOG) by 25.9% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 1,648,469 shares of the company’s stock after selling 577,671 shares during the quarter. Artisan Partners Limited Partnership’s holdings in Datadog were worth $235,550,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Retirement Wealth Solutions LLC purchased a new position in shares of Datadog in the 4th quarter valued at approximately $30,000. Avior Wealth Management LLC lifted its position in Datadog by 55.9% during the fourth quarter. Avior Wealth Management LLC now owns 226 shares of the company’s stock valued at $32,000 after buying an additional 81 shares during the period. True Wealth Design LLC lifted its position in Datadog by 12,000.0% during the third quarter. True Wealth Design LLC now owns 242 shares of the company’s stock valued at $28,000 after buying an additional 240 shares during the period. Quarry LP bought a new stake in shares of Datadog during the 3rd quarter valued at $33,000. Finally, Kieckhefer Group LLC purchased a new stake in shares of Datadog in the 4th quarter worth about $43,000. Institutional investors own 78.29% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on DDOG. Guggenheim reissued a “neutral” rating on shares of Datadog in a research report on Wednesday, January 22nd. JMP Securities reissued a “market perform” rating on shares of Datadog in a report on Friday, February 14th. Barclays reduced their price target on Datadog from $187.00 to $180.00 and set an “overweight” rating for the company in a report on Friday, February 14th. Needham & Company LLC reiterated a “buy” rating and issued a $160.00 price target on shares of Datadog in a research note on Tuesday, March 4th. Finally, Loop Capital raised their price objective on shares of Datadog from $160.00 to $200.00 and gave the company a “buy” rating in a research note on Monday, December 23rd. One research 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 issued a strong buy rating to the stock. According to MarketBeat, Datadog presently has an average rating of “Moderate Buy” and a consensus price target of $158.70.

Insiders Place Their Bets

In related news, CRO Sean Michael Walters sold 8,454 shares of the stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $102.04, for a total transaction of $862,646.16. Following the completion of the sale, the executive now directly owns 185,871 shares of the company’s stock, valued at $18,966,276.84. This trade represents a 4.35 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CTO Alexis Le-Quoc sold 127,105 shares of the firm’s stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $102.15, for a total transaction of $12,983,775.75. Following the completion of the sale, the chief technology officer now owns 371,865 shares of the company’s stock, valued at $37,986,009.75. This trade represents a 25.47 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 601,412 shares of company stock valued at $75,444,584 over the last quarter. Company insiders own 11.78% of the company’s stock.

Datadog Stock Down 2.4 %

Shares of Datadog stock opened at $107.97 on Thursday. Datadog, Inc. has a 52-week low of $98.30 and a 52-week high of $170.08. The company has a market capitalization of $37.01 billion, a P/E ratio of 211.71, a P/E/G ratio of 44.03 and a beta of 1.22. The company has a 50 day moving average of $125.18 and a 200 day moving average of $130.87.

Datadog (NASDAQ:DDOG) last issued its earnings results on Thursday, February 13th. The company reported $0.13 earnings per share for the quarter, missing the consensus estimate 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, research analysts anticipate that Datadog, Inc. will post 0.34 earnings per share for the current fiscal 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.