Old Port Advisors Decreases Position in Datadog, Inc. (NASDAQ:DDOG)

Old Port Advisors trimmed its holdings in shares of Datadog, Inc. (NASDAQ:DDOG) by 6.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,004 shares of the company’s stock after selling 500 shares during the quarter. Old Port Advisors’ holdings in Datadog were worth $1,001,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the business. SouthState Corp purchased a new position in shares of Datadog in the second quarter worth $26,000. True Wealth Design LLC raised its stake in Datadog by 12,000.0% in the 3rd quarter. True Wealth Design LLC now owns 242 shares of the company’s stock worth $28,000 after acquiring an additional 240 shares during the last quarter. 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. Quarry LP acquired a new stake in Datadog during the 3rd quarter worth about $33,000. Finally, American National Bank & Trust purchased a new stake in Datadog during the 3rd quarter valued at about $39,000. 78.29% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on DDOG shares. Sanford C. Bernstein decreased their target price on Datadog from $157.00 to $151.00 and set an “outperform” rating for the company in a report on Monday, October 21st. Loop Capital lifted 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. Wedbush raised shares of Datadog from a “buy” rating to a “strong-buy” rating in a report on Thursday, October 17th. Barclays raised their target price on shares of Datadog from $155.00 to $187.00 and gave the stock an “overweight” rating in a report on Friday, December 6th. Finally, TD Cowen reaffirmed a “buy” rating and issued a $165.00 price target on shares of Datadog in a report on Tuesday, November 19th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, twenty-six have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $157.04.

Insider Activity

In related news, CRO Sean Michael Walters sold 2,322 shares of the business’s stock in a transaction dated Tuesday, October 8th. The shares were sold at an average price of $125.00, for a total transaction of $290,250.00. Following the transaction, the executive now directly owns 183,512 shares in the company, valued at approximately $22,939,000. The trade was a 1.25 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Olivier Pomel sold 178,723 shares of the company’s stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $161.28, for a total transaction of $28,824,445.44. Following the sale, the chief executive officer now directly owns 379,693 shares of the company’s stock, valued at approximately $61,236,887.04. This represents a 32.01 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 765,588 shares of company stock worth $105,029,356 over the last quarter. 11.78% of the stock is currently owned by corporate insiders.

Datadog Price Performance

DDOG stock traded up $0.34 during trading on Thursday, hitting $143.23. The stock had a trading volume of 670,105 shares, compared to its average volume of 4,005,172. Datadog, Inc. has a twelve month low of $98.80 and a twelve month high of $170.08. The company’s 50-day moving average price is $142.48 and its two-hundred day moving average price is $127.00. The stock has a market capitalization of $48.66 billion, a P/E ratio of 270.25, a PEG ratio of 20.27 and a beta of 1.11.

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.