GraniteShares Advisors LLC Lowers Stock Holdings in Datadog, Inc. (NASDAQ:DDOG)

GraniteShares Advisors LLC lowered its holdings in Datadog, Inc. (NASDAQ:DDOG) by 26.4% in the fourth quarter, Holdings Channel.com reports. The firm owned 5,293 shares of the company’s stock after selling 1,902 shares during the period. GraniteShares Advisors LLC’s holdings in Datadog were worth $756,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. True Wealth Design LLC boosted its holdings 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 acquiring an additional 240 shares during the last quarter. Retirement Wealth Solutions LLC acquired a new position in Datadog in the fourth quarter valued at $30,000. Avior Wealth Management LLC boosted its holdings 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 acquiring an additional 81 shares during the last quarter. Meeder Asset Management Inc. boosted its holdings 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 acquiring an additional 115 shares during the last quarter. Finally, Quarry LP acquired a new position in Datadog in the third quarter valued at $33,000. Hedge funds and other institutional investors own 78.29% of the company’s stock.

Insider Buying and Selling at Datadog

In other news, CEO Olivier Pomel sold 178,723 shares of the company’s stock in a transaction on Monday, December 9th. The shares were sold at an average price of $161.28, for a total value of $28,824,445.44. Following the transaction, the chief executive officer now directly owns 379,693 shares of the company’s stock, valued at approximately $61,236,887.04. This represents a 32.01 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed 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 stock was sold at an average price of $158.04, for a total transaction of $393,203.52. Following the completion of the transaction, the general counsel now directly owns 68,758 shares in the company, valued at $10,866,514.32. This trade represents a 3.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 556,674 shares of company stock valued at $82,904,025 in the last three months. 11.78% of the stock is currently owned by company insiders.

Datadog Stock Down 2.2 %

Shares of NASDAQ:DDOG opened at $114.98 on Wednesday. The company’s fifty day moving average is $140.58 and its two-hundred day moving average is $131.97. Datadog, Inc. has a 12-month low of $98.80 and a 12-month high of $170.08. The company has a market cap of $39.06 billion, a P/E ratio of 225.46, a price-to-earnings-growth ratio of 44.03 and a beta of 1.15.

Datadog (NASDAQ:DDOG) last announced its 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 net margin of 6.85% and a return on equity of 8.28%. Equities research analysts anticipate that Datadog, Inc. will post 0.34 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on DDOG shares. Barclays reduced their target price on Datadog from $187.00 to $180.00 and set an “overweight” rating on the stock in a report on Friday, February 14th. Robert W. Baird lifted their target price on Datadog from $140.00 to $150.00 and gave the company an “outperform” rating in a report on Friday, November 8th. Stifel Nicolaus cut Datadog from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $165.00 to $140.00 in a research note on Wednesday, January 29th. Jefferies Financial Group boosted their price objective on Datadog from $155.00 to $170.00 and gave the stock a “buy” rating in a research note on Monday, January 6th. Finally, Loop Capital boosted their price target on Datadog from $160.00 to $200.00 and gave the stock a “buy” rating in a research note on Monday, December 23rd. One analyst has rated the stock with a sell rating, seven have issued a hold rating, twenty-one have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $158.70.

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.