OneAscent Financial Services LLC Purchases New Shares in Datadog, Inc. (NASDAQ:DDOG)

OneAscent Financial Services LLC acquired a new position in shares of Datadog, Inc. (NASDAQ:DDOG) during the 4th quarter, Holdings Channel reports. The firm acquired 1,424 shares of the company’s stock, valued at approximately $203,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Proficio Capital Partners LLC bought a new position in Datadog during the fourth quarter worth about $14,884,000. ARK Investment Management LLC increased its holdings in shares of Datadog by 62.7% during the fourth quarter. ARK Investment Management LLC now owns 127,290 shares of the company’s stock worth $18,188,000 after purchasing an additional 49,050 shares during the period. Y Intercept Hong Kong Ltd raised its position 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 valued at $7,590,000 after buying an additional 30,998 shares in the last quarter. Baillie Gifford & Co. boosted its stake in shares of Datadog by 15.8% in the fourth quarter. Baillie Gifford & Co. now owns 10,905,133 shares of the company’s stock valued at $1,558,234,000 after buying an additional 1,484,562 shares during the period. Finally, Cullen Frost Bankers Inc. increased its stake in Datadog by 3.5% during the 4th quarter. Cullen Frost Bankers Inc. now owns 72,489 shares of the company’s stock worth $10,358,000 after acquiring an additional 2,451 shares during the period. Institutional investors and hedge funds own 78.29% of the company’s stock.

Insider Activity

In other Datadog news, Director Shardul Shah sold 7,916 shares of the stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $142.12, for a total value of $1,125,021.92. Following the transaction, the director now owns 427,785 shares in the company, valued at approximately $60,796,804.20. This represents a 1.82 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Olivier Pomel sold 11,195 shares of the firm’s stock in a transaction that occurred on Monday, January 27th. The shares were sold at an average price of $139.86, for a total value of $1,565,732.70. Following the completion of the sale, the chief executive officer now directly owns 379,693 shares of the company’s stock, valued at $53,103,862.98. This trade represents a 2.86 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 601,412 shares of company stock valued at $75,444,584 in the last ninety days. 11.78% of the stock is owned by company insiders.

Analyst Ratings Changes

DDOG has been the topic of a number of recent analyst reports. Wolfe Research cut Datadog from an “outperform” rating to a “peer perform” rating in a research report on Tuesday, February 18th. Royal Bank of Canada raised their target price on shares of Datadog from $151.00 to $170.00 and gave the company an “outperform” rating in a report on Friday, January 3rd. Cantor Fitzgerald started coverage on shares of Datadog in a report on Friday, January 17th. They set an “overweight” rating and a $180.00 price target for the company. Rosenblatt Securities lifted their price objective on shares of Datadog from $148.00 to $160.00 and gave the company a “buy” rating in a research note on Wednesday, February 12th. Finally, Wells Fargo & Company cut Datadog from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $152.00 to $140.00 in a research note on Thursday, February 13th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, twenty-one have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $157.22.

Datadog Trading Down 6.9 %

Shares of DDOG stock opened at $87.93 on Friday. Datadog, Inc. has a 1-year low of $86.57 and a 1-year high of $170.08. The stock has a market cap of $30.14 billion, a price-to-earnings ratio of 172.42, a PEG ratio of 44.03 and a beta of 1.20. The stock has a 50-day moving average of $119.52 and a 200-day moving average of $130.21.

Datadog (NASDAQ:DDOG) last announced its earnings results on Thursday, February 13th. The company reported $0.13 earnings per share for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.31). Datadog had a return on equity of 8.28% and a net margin of 6.85%. Sell-side analysts forecast that Datadog, Inc. will post 0.34 earnings per share for the current year.

Datadog Company 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.