Commonwealth Equity Services LLC Has $30.83 Million Position in Datadog, Inc. (NASDAQ:DDOG)

Commonwealth Equity Services LLC cut its stake in shares of Datadog, Inc. (NASDAQ:DDOG) by 22.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 215,744 shares of the company’s stock after selling 63,403 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Datadog were worth $30,828,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Allworth Financial LP lifted its stake in shares of Datadog by 7.7% in the 4th quarter. Allworth Financial LP now owns 1,043 shares of the company’s stock valued at $146,000 after purchasing an additional 75 shares during the period. Spire Wealth Management lifted its stake in shares of Datadog by 21.4% in the 4th quarter. Spire Wealth Management now owns 453 shares of the company’s stock valued at $65,000 after purchasing an additional 80 shares during the period. Avior Wealth Management LLC lifted its stake in shares of Datadog by 55.9% in the 4th quarter. Avior Wealth Management LLC now owns 226 shares of the company’s stock valued at $32,000 after purchasing an additional 81 shares during the period. Pathstone Holdings LLC lifted its stake in shares of Datadog by 0.4% in the 3rd quarter. Pathstone Holdings LLC now owns 23,152 shares of the company’s stock valued at $2,664,000 after purchasing an additional 91 shares during the period. Finally, Farther Finance Advisors LLC raised its stake in Datadog by 5.2% during the 4th quarter. Farther Finance Advisors LLC now owns 1,853 shares of the company’s stock worth $265,000 after buying an additional 92 shares during the period. 78.29% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Barclays cut their price target on Datadog from $187.00 to $180.00 and set an “overweight” rating on the stock in a report on Friday, February 14th. Mizuho increased their price target on Datadog from $155.00 to $170.00 and gave the stock an “outperform” rating in a report on Friday, December 13th. Jefferies Financial Group increased their price target on Datadog from $155.00 to $170.00 and gave the stock a “buy” rating in a report on Monday, January 6th. Wells Fargo & Company lowered Datadog from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $152.00 to $140.00 in a report on Thursday, February 13th. Finally, Truist Financial cut their price target on Datadog from $150.00 to $140.00 and set a “hold” rating on the stock in a report on Friday, February 14th. One investment 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 given a strong buy rating to the company. According to MarketBeat, Datadog currently has an average rating of “Moderate Buy” and an average price target of $158.70.

Datadog Price Performance

NASDAQ:DDOG opened at $101.80 on Friday. The business has a fifty day simple moving average of $130.81 and a two-hundred day simple moving average of $131.22. Datadog, Inc. has a 1 year low of $98.30 and a 1 year high of $170.08. The company has a market capitalization of $34.89 billion, a P/E ratio of 199.61, a P/E/G ratio of 44.03 and a beta of 1.22.

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

Insider Transactions at Datadog

In other news, CRO Sean Michael Walters sold 8,454 shares of Datadog stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $102.04, for a total value of $862,646.16. Following the transaction, the executive now owns 185,871 shares in the company, valued at approximately $18,966,276.84. The trade was a 4.35 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CTO Alexis Le-Quoc sold 127,105 shares of Datadog stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $102.15, for a total value of $12,983,775.75. Following the completion of the transaction, the chief technology officer now owns 371,865 shares in the company, valued at approximately $37,986,009.75. This represents a 25.47 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 653,554 shares of company stock valued at $83,328,905 over the last three months. Company 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.