CNB Bank Sells 172 Shares of Datadog, Inc. (NASDAQ:DDOG)

CNB Bank reduced its stake in Datadog, Inc. (NASDAQ:DDOG) by 4.8% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,393 shares of the company’s stock after selling 172 shares during the period. CNB Bank’s holdings in Datadog were worth $485,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. True Wealth Design LLC increased its stake in shares of Datadog by 12,000.0% in the 3rd 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. Meeder Asset Management Inc. increased its stake 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 purchasing an additional 115 shares in the last quarter. Quarry LP acquired a new stake in Datadog in the third quarter worth $33,000. American National Bank & Trust bought a new position in shares of Datadog during the third quarter worth $39,000. Finally, Kieckhefer Group LLC bought a new position in Datadog during the fourth quarter worth about $43,000. 78.29% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have issued reports on DDOG. TD Cowen restated a “buy” rating and issued a $165.00 price target on shares of Datadog in a report on Tuesday, November 19th. Jefferies Financial Group raised their target price on shares of Datadog from $155.00 to $170.00 and gave the stock a “buy” rating in a report on Monday, January 6th. Loop Capital upped their price target on shares of Datadog from $160.00 to $200.00 and gave the company a “buy” rating in a report on Monday, December 23rd. BMO Capital Markets raised their price objective on shares of Datadog from $135.00 to $145.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. Finally, BNP Paribas initiated coverage on shares of Datadog in a research note on Tuesday, October 8th. They issued an “outperform” rating and a $150.00 target price for the company. One analyst has rated the stock with a sell rating, three have given a hold rating, twenty-six have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, Datadog presently has an average rating of “Moderate Buy” and an average price target of $158.00.

Datadog Stock Performance

Shares of DDOG opened at $139.78 on Friday. Datadog, Inc. has a 52 week low of $98.80 and a 52 week high of $170.08. The stock has a market capitalization of $47.49 billion, a price-to-earnings ratio of 262.65, a PEG ratio of 16.31 and a beta of 1.14. The stock has a fifty day moving average of $145.61 and a 200-day moving average of $128.51.

Insider Buying and Selling

In related news, President Amit Agarwal sold 150,000 shares of Datadog stock in a transaction on Friday, November 15th. The shares were sold at an average price of $126.03, for a total transaction of $18,904,500.00. Following the completion of the transaction, the president now owns 214,275 shares of the company’s stock, valued at $27,005,078.25. This trade represents a 41.18 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Matthew Jacobson sold 3,393 shares of the company’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $125.03, for a total transaction of $424,226.79. Following the sale, the director now directly owns 695,086 shares in the company, valued at $86,906,602.58. This trade represents a 0.49 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 609,763 shares of company stock valued at $87,543,649 in the last three months. Insiders own 11.78% of the company’s stock.

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.