Datadog, Inc. (NASDAQ:DDOG) Shares Sold by Thoroughbred Financial Services LLC

Thoroughbred Financial Services LLC trimmed its holdings in Datadog, Inc. (NASDAQ:DDOG) by 5.0% during the fourth quarter, Holdings Channel.com reports. The fund owned 3,132 shares of the company’s stock after selling 165 shares during the period. Thoroughbred Financial Services LLC’s holdings in Datadog were worth $447,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the business. Motley Fool Asset Management LLC raised its position in shares of Datadog by 12.9% during the 4th quarter. Motley Fool Asset Management LLC now owns 15,314 shares of the company’s stock worth $2,188,000 after purchasing an additional 1,746 shares during the last quarter. Westpac Banking Corp raised its holdings in shares of Datadog by 33.5% in the fourth quarter. Westpac Banking Corp now owns 1,520 shares of the company’s stock worth $217,000 after acquiring an additional 381 shares during the last quarter. OneAscent Financial Services LLC purchased a new stake in shares of Datadog in the fourth quarter valued at $203,000. Creekmur Asset Management LLC boosted its stake in shares of Datadog by 23.3% during the fourth quarter. Creekmur Asset Management LLC now owns 5,160 shares of the company’s stock valued at $737,000 after acquiring an additional 975 shares during the last quarter. Finally, Bryce Point Capital LLC purchased a new stake in Datadog during the 4th quarter worth about $1,611,000. 78.29% of the stock is currently owned by hedge funds and other institutional investors.

Datadog Trading Down 6.9 %

DDOG stock opened at $87.93 on Monday. The company has a market capitalization of $30.14 billion, a P/E ratio of 172.42, a PEG ratio of 44.03 and a beta of 1.20. The firm has a 50 day simple moving average of $119.52 and a 200-day simple moving average of $130.45. Datadog, Inc. has a twelve month low of $82.71 and a twelve month high of $170.08.

Datadog (NASDAQ:DDOG) last issued its 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 net margin of 6.85% and a return on equity of 8.28%. On average, research analysts predict that Datadog, Inc. will post 0.34 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Mizuho raised their price target on shares of Datadog from $155.00 to $170.00 and gave the stock an “outperform” rating in a research note on Friday, December 13th. Macquarie reiterated an “outperform” rating and issued a $200.00 price target on shares of Datadog in a report on Tuesday, February 11th. Guggenheim restated a “neutral” rating on shares of Datadog in a report on Wednesday, January 22nd. Stifel Nicolaus lowered Datadog from a “buy” rating to a “hold” rating and dropped their target price for the company from $165.00 to $140.00 in a research note on Wednesday, January 29th. Finally, Barclays decreased their price target on Datadog from $187.00 to $180.00 and set an “overweight” rating on the stock in a research note on Friday, February 14th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, twenty-one have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $157.22.

Insider Transactions at Datadog

In other news, CRO Sean Michael Walters sold 8,454 shares of Datadog stock in a transaction dated 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 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 position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Amit Agarwal sold 25,000 shares of the firm’s stock in a transaction dated Wednesday, January 8th. The stock was sold at an average price of $141.12, for a total transaction of $3,528,000.00. Following the completion of the transaction, the director now directly owns 195,667 shares in the company, valued at $27,612,527.04. This represents a 11.33 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 601,412 shares of company stock worth $75,444,584. 11.78% of the stock is currently owned by corporate insiders.

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.