Rakuten Securities Inc. Cuts Stock Holdings in Datadog, Inc. (NASDAQ:DDOG)

Rakuten Securities Inc. reduced its position in shares of Datadog, Inc. (NASDAQ:DDOG) by 18.1% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 826 shares of the company’s stock after selling 182 shares during the period. Rakuten Securities Inc.’s holdings in Datadog were worth $118,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in DDOG. Atria Investments Inc raised its stake in shares of Datadog by 9.5% during the 3rd quarter. Atria Investments Inc now owns 4,802 shares of the company’s stock worth $553,000 after buying an additional 416 shares in the last quarter. Sigma Planning Corp raised its position in Datadog by 8.9% in the third quarter. Sigma Planning Corp now owns 5,645 shares of the company’s stock worth $649,000 after acquiring an additional 460 shares in the last quarter. Los Angeles Capital Management LLC raised its position in Datadog by 172.2% in the third quarter. Los Angeles Capital Management LLC now owns 38,841 shares of the company’s stock worth $4,469,000 after acquiring an additional 24,574 shares in the last quarter. Ashton Thomas Securities LLC purchased a new position in shares of Datadog in the 3rd quarter valued at about $54,000. Finally, Nations Financial Group Inc. IA ADV increased its holdings in shares of Datadog by 3.1% in the 3rd quarter. Nations Financial Group Inc. IA ADV now owns 4,641 shares of the company’s stock valued at $534,000 after purchasing an additional 139 shares in the last quarter. 78.29% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the stock. Wells Fargo & Company downgraded shares of Datadog from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $152.00 to $140.00 in a report on Thursday, February 13th. Cantor Fitzgerald started coverage on Datadog in a research note on Friday, January 17th. They issued an “overweight” rating and a $180.00 price objective for the company. Rosenblatt Securities raised their price objective on Datadog from $148.00 to $160.00 and gave the company a “buy” rating in a research note on Wednesday, February 12th. Barclays dropped their price objective on Datadog from $187.00 to $180.00 and set an “overweight” rating for the company in a research note on Friday, February 14th. Finally, Needham & Company LLC restated a “buy” rating and issued a $160.00 price target on shares of Datadog in a research report on Tuesday, March 4th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, twenty-one have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, Datadog presently has a consensus rating of “Moderate Buy” and an average target price of $158.70.

Datadog Stock Up 0.1 %

Shares of NASDAQ DDOG opened at $102.03 on Thursday. The stock has a market capitalization of $34.97 billion, a PE ratio of 200.06, a P/E/G ratio of 44.03 and a beta of 1.22. The firm has a fifty day moving average of $132.57 and a 200-day moving average of $131.45. Datadog, Inc. has a 52-week low of $98.80 and a 52-week high of $170.08.

Datadog (NASDAQ:DDOG) last posted its quarterly 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%. Equities research analysts expect that Datadog, Inc. will post 0.34 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CEO Olivier Pomel sold 107,365 shares of the firm’s stock in a transaction on Friday, March 7th. The shares were sold at an average price of $109.56, for a total value of $11,762,909.40. Following the transaction, the chief executive officer now owns 435,793 shares of the company’s stock, valued at approximately $47,745,481.08. This trade represents a 19.77 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Amit Agarwal sold 25,000 shares of the company’s stock in a transaction on Wednesday, March 5th. The stock was sold at an average price of $114.21, for a total transaction of $2,855,250.00. Following the sale, the director now directly owns 82,324 shares of the company’s stock, valued at approximately $9,402,224.04. This trade represents a 23.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 517,995 shares of company stock valued at $69,482,484. 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.