National Pension Service Reduces Stock Holdings in Datadog, Inc. (NASDAQ:DDOG)

National Pension Service lowered its position in Datadog, Inc. (NASDAQ:DDOG) by 4.5% in the fourth quarter, HoldingsChannel reports. The firm owned 412,978 shares of the company’s stock after selling 19,472 shares during the period. National Pension Service’s holdings in Datadog were worth $59,010,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of DDOG. Retirement Wealth Solutions LLC acquired a new position in Datadog in the fourth quarter valued at about $30,000. Avior Wealth Management LLC lifted its position in Datadog by 55.9% in the fourth quarter. Avior Wealth Management LLC now owns 226 shares of the company’s stock valued at $32,000 after buying an additional 81 shares during the last quarter. True Wealth Design LLC lifted its position in Datadog by 12,000.0% in the third quarter. True Wealth Design LLC now owns 242 shares of the company’s stock valued at $28,000 after buying an additional 240 shares during the last quarter. Meeder Asset Management Inc. lifted its position in Datadog by 66.5% in the third quarter. Meeder Asset Management Inc. now owns 288 shares of the company’s stock valued at $33,000 after buying an additional 115 shares during the last quarter. Finally, Quarry LP acquired a new position in Datadog in the third quarter valued at about $33,000. Hedge funds and other institutional investors own 78.29% of the company’s stock.

Datadog Stock Up 0.1 %

Shares of Datadog stock opened at $113.53 on Friday. The firm has a market capitalization of $38.57 billion, a P/E ratio of 222.61, a P/E/G ratio of 44.03 and a beta of 1.15. Datadog, Inc. has a 52 week low of $98.80 and a 52 week high of $170.08. The firm’s 50 day moving average is $139.17 and its two-hundred day moving average is $131.71.

Datadog (NASDAQ:DDOG) last announced its quarterly earnings results on Thursday, February 13th. The company reported $0.13 EPS for the quarter, missing the consensus estimate of $0.44 by ($0.31). Datadog had a net margin of 6.85% and a return on equity of 8.28%. As a group, research analysts expect that Datadog, Inc. will post 0.34 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have commented on DDOG. Guggenheim reaffirmed a “neutral” rating on shares of Datadog in a research report on Wednesday, January 22nd. Stifel Nicolaus cut shares of Datadog from a “buy” rating to a “hold” rating and decreased their target price for the company from $165.00 to $140.00 in a research report on Wednesday, January 29th. TD Cowen reissued a “buy” rating and set a $165.00 price target on shares of Datadog in a research report on Tuesday, November 19th. Rosenblatt Securities increased their price target on shares of Datadog from $148.00 to $160.00 and gave the stock a “buy” rating in a research report on Wednesday, February 12th. Finally, Wells Fargo & Company cut shares of Datadog from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $152.00 to $140.00 in a research report 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 issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $158.70.

Insider Transactions at Datadog

In other news, Director Shardul Shah sold 7,916 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $155.25, for a total transaction of $1,228,959.00. Following the transaction, the director now directly owns 435,701 shares in the company, valued at approximately $67,642,580.25. This trade represents a 1.78 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Amit Agarwal sold 25,000 shares of the firm’s stock in a transaction that occurred on Wednesday, January 22nd. The stock was sold at an average price of $139.47, for a total transaction of $3,486,750.00. Following the transaction, the director now owns 195,667 shares in the company, valued at approximately $27,289,676.49. This trade represents a 11.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 556,674 shares of company stock worth $82,904,025. Insiders own 11.78% of the company’s stock.

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.