Robocap Asset Management Ltd Cuts Stock Holdings in Datadog, Inc. (NASDAQ:DDOG)

Robocap Asset Management Ltd decreased its position in shares of Datadog, Inc. (NASDAQ:DDOG) by 63.2% in the 4th quarter, HoldingsChannel reports. The fund owned 51,346 shares of the company’s stock after selling 88,371 shares during the period. Datadog makes up about 4.9% of Robocap Asset Management Ltd’s holdings, making the stock its 9th biggest holding. Robocap Asset Management Ltd’s holdings in Datadog were worth $7,337,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Jennison Associates LLC raised its holdings in Datadog by 47.9% during the fourth quarter. Jennison Associates LLC now owns 9,278,648 shares of the company’s stock worth $1,325,826,000 after buying an additional 3,005,300 shares during the last quarter. Holocene Advisors LP raised its holdings in shares of Datadog by 205.2% in the 3rd quarter. Holocene Advisors LP now owns 1,632,870 shares of the company’s stock worth $187,878,000 after acquiring an additional 1,097,815 shares during the last quarter. Champlain Investment Partners LLC bought a new position in Datadog in the 3rd quarter valued at about $52,561,000. Eagle Asset Management Inc. boosted its stake in Datadog by 72.4% during the 3rd quarter. Eagle Asset Management Inc. now owns 914,776 shares of the company’s stock valued at $113,844,000 after purchasing an additional 384,121 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. increased its holdings in Datadog by 51.5% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 608,252 shares of the company’s stock worth $69,985,000 after purchasing an additional 206,696 shares in the last quarter. 78.29% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on DDOG. UBS Group reiterated an “underperform” rating on shares of Datadog in a report on Friday, October 18th. Monness Crespi & Hardt upgraded shares of Datadog from a “neutral” rating to a “buy” rating and set a $155.00 target price for the company in a research note on Thursday, November 7th. Loop Capital raised their price target on shares of Datadog from $160.00 to $200.00 and gave the company a “buy” rating in a research report on Monday, December 23rd. Mizuho upped their price objective on shares of Datadog from $155.00 to $170.00 and gave the stock an “outperform” rating in a research report on Friday, December 13th. Finally, Royal Bank of Canada lifted their target price on shares of Datadog from $151.00 to $170.00 and gave the stock an “outperform” rating in a research report on Friday, January 3rd. One analyst has rated the stock with a sell rating, five have assigned a hold rating, twenty-five have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $157.59.

Insider Buying and Selling

In other news, Director Shardul Shah sold 7,916 shares of the business’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $155.25, for a total value of $1,228,959.00. Following the completion of the transaction, the director now owns 435,701 shares in the company, valued at $67,642,580.25. The trade was a 1.78 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, General Counsel Kerry Acocella sold 2,488 shares of the company’s stock in a transaction 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 transaction, the general counsel now directly owns 68,758 shares in the company, valued at approximately $10,866,514.32. The trade was a 3.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 780,979 shares of company stock worth $111,869,206 in the last 90 days. Insiders own 11.78% of the company’s stock.

Datadog Price Performance

Shares of Datadog stock opened at $142.65 on Friday. Datadog, Inc. has a 1 year low of $98.80 and a 1 year high of $170.08. The company has a 50-day moving average of $147.26 and a 200 day moving average of $130.10. The firm has a market cap of $48.46 billion, a price-to-earnings ratio of 269.16, a PEG ratio of 16.59 and a beta of 1.15.

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.