Datadog, Inc. (NASDAQ:DDOG) Position Reduced by Glynn Capital Management LLC

Glynn Capital Management LLC decreased its holdings in Datadog, Inc. (NASDAQ:DDOG) by 38.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 151,837 shares of the company’s stock after selling 95,582 shares during the period. Datadog accounts for about 5.1% of Glynn Capital Management LLC’s holdings, making the stock its 8th biggest position. Glynn Capital Management LLC’s holdings in Datadog were worth $21,696,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. ARK Investment Management LLC boosted its holdings in Datadog by 62.7% in the 4th quarter. ARK Investment Management LLC now owns 127,290 shares of the company’s stock worth $18,188,000 after buying an additional 49,050 shares during the period. Proficio Capital Partners LLC purchased a new stake in shares of Datadog during the fourth quarter worth $14,884,000. Baillie Gifford & Co. lifted its position in shares of Datadog by 15.8% during the fourth quarter. Baillie Gifford & Co. now owns 10,905,133 shares of the company’s stock worth $1,558,234,000 after acquiring an additional 1,484,562 shares in the last quarter. Y Intercept Hong Kong Ltd boosted its holdings in shares of Datadog by 140.1% in the fourth quarter. Y Intercept Hong Kong Ltd now owns 53,116 shares of the company’s stock worth $7,590,000 after acquiring an additional 30,998 shares during the period. Finally, Atom Investors LP purchased a new position in shares of Datadog in the third quarter valued at $1,112,000. Hedge funds and other institutional investors own 78.29% of the company’s stock.

Datadog Trading Down 1.0 %

Shares of NASDAQ:DDOG opened at $102.93 on Wednesday. The stock has a market capitalization of $35.28 billion, a P/E ratio of 201.83, a price-to-earnings-growth ratio of 44.03 and a beta of 1.22. The stock’s 50-day moving average price is $129.20 and its 200-day moving average price is $131.18. Datadog, Inc. has a 12-month low of $98.30 and a 12-month 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 the consensus estimate of $0.44 by ($0.31). Datadog had a return on equity of 8.28% and a net margin of 6.85%. As a group, research analysts predict that Datadog, Inc. will post 0.34 EPS for the current year.

Insider Buying and Selling

In related news, President Amit Agarwal sold 25,000 shares of the firm’s stock in a transaction dated Thursday, December 26th. The stock was sold at an average price of $147.99, for a total value of $3,699,750.00. Following the sale, the president now directly owns 195,667 shares of the company’s stock, valued at $28,956,759.33. This trade represents a 11.33 % 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, CRO Sean Michael Walters sold 8,454 shares of the company’s stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $102.04, for a total value of $862,646.16. Following the transaction, the executive now directly owns 185,871 shares of the company’s stock, valued at $18,966,276.84. The trade was a 4.35 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 626,412 shares of company stock valued at $79,144,334 over the last three months. 11.78% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

DDOG has been the subject of several analyst reports. Stifel Nicolaus downgraded Datadog from a “buy” rating to a “hold” rating and cut their target price for the stock from $165.00 to $140.00 in a research note on Wednesday, January 29th. Jefferies Financial Group increased their price target on shares of Datadog from $155.00 to $170.00 and gave the stock a “buy” rating in a report on Monday, January 6th. Morgan Stanley reaffirmed an “equal weight” rating and set a $143.00 price objective on shares of Datadog in a research note on Thursday, January 16th. DA Davidson increased their target price on shares of Datadog from $150.00 to $165.00 and gave the stock a “buy” rating in a research note on Monday, February 10th. Finally, Needham & Company LLC restated a “buy” rating and set a $160.00 price target on shares of Datadog in a research report on Tuesday, March 4th. 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’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $158.70.

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.