China Universal Asset Management Co. Ltd. Trims Stock Holdings in Datadog, Inc. (NASDAQ:DDOG)

China Universal Asset Management Co. Ltd. lessened its position in shares of Datadog, Inc. (NASDAQ:DDOG) by 7.2% during the 4th quarter, Holdings Channel reports. The firm owned 23,696 shares of the company’s stock after selling 1,849 shares during the quarter. China Universal Asset Management Co. Ltd.’s holdings in Datadog were worth $3,386,000 as of its most recent filing with the SEC.

A number of other hedge funds have also modified their holdings of the company. Clear Creek Financial Management LLC lifted its holdings in shares of Datadog by 40.9% during the fourth quarter. Clear Creek Financial Management LLC now owns 7,900 shares of the company’s stock worth $1,129,000 after purchasing an additional 2,295 shares during the period. Factory Mutual Insurance Co. raised its position in Datadog by 103.8% during the 4th quarter. Factory Mutual Insurance Co. now owns 152,495 shares of the company’s stock worth $21,790,000 after buying an additional 77,655 shares during the last quarter. Caprock Group LLC lifted its stake in Datadog by 4.3% during the 4th quarter. Caprock Group LLC now owns 4,156 shares of the company’s stock valued at $594,000 after acquiring an additional 173 shares during the period. Keudell Morrison Wealth Management purchased a new stake in shares of Datadog in the 4th quarter valued at $235,000. Finally, Strategic Advocates LLC increased its stake in shares of Datadog by 13.4% in the fourth quarter. Strategic Advocates LLC now owns 9,850 shares of the company’s stock worth $1,407,000 after acquiring an additional 1,166 shares during the period. 78.29% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Citigroup upped their price target on shares of Datadog from $157.00 to $170.00 and gave the company a “buy” rating in a report on Friday, January 17th. Loop Capital upped their target price on Datadog from $160.00 to $200.00 and gave the stock a “buy” rating in a research note on Monday, December 23rd. Monness Crespi & Hardt upgraded Datadog from a “neutral” rating to a “buy” rating and set a $155.00 price target for the company in a research report on Thursday, November 7th. UBS Group restated an “underperform” rating on shares of Datadog in a research report on Friday, October 18th. Finally, Wedbush raised shares of Datadog from a “buy” rating to a “strong-buy” rating in a report on Thursday, October 17th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, twenty-five have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $157.59.

Insider Buying and Selling

In other news, General Counsel Kerry Acocella sold 2,488 shares of the 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 completion of the sale, the general counsel now owns 68,758 shares of the company’s stock, valued at $10,866,514.32. This represents a 3.49 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Olivier Pomel sold 178,723 shares of Datadog stock in a transaction that occurred on 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 in the company, valued at approximately $61,236,887.04. The trade was a 32.01 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 653,874 shares of company stock worth $93,721,154. 11.78% of the stock is owned by corporate insiders.

Datadog Price Performance

Shares of Datadog stock opened at $142.71 on Friday. The stock’s 50 day simple moving average is $147.99 and its 200-day simple moving average is $129.49. The stock has a market cap of $48.48 billion, a P/E ratio of 269.27, a P/E/G ratio of 16.94 and a beta of 1.14. Datadog, Inc. has a 1-year low of $98.80 and a 1-year high of $170.08.

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.