Country Trust Bank Sells 68,216 Shares of Datadog, Inc. (NASDAQ:DDOG)

Country Trust Bank lowered its holdings in shares of Datadog, Inc. (NASDAQ:DDOG) by 20.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 270,761 shares of the company’s stock after selling 68,216 shares during the quarter. Country Trust Bank’s holdings in Datadog were worth $38,689,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of DDOG. Holocene Advisors LP raised its position in shares of Datadog by 205.2% in the third quarter. Holocene Advisors LP now owns 1,632,870 shares of the company’s stock valued at $187,878,000 after purchasing an additional 1,097,815 shares during the period. Champlain Investment Partners LLC acquired a new position in Datadog in the 3rd quarter valued at $52,561,000. Eagle Asset Management Inc. raised its holdings in Datadog by 72.4% in the 3rd quarter. Eagle Asset Management Inc. now owns 914,776 shares of the company’s stock worth $113,844,000 after acquiring an additional 384,121 shares during the period. Robeco Institutional Asset Management B.V. lifted its position in Datadog by 51.5% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 608,252 shares of the company’s stock worth $69,985,000 after acquiring an additional 206,696 shares during the last quarter. Finally, KBC Group NV grew its position in shares of Datadog by 199.7% in the fourth quarter. KBC Group NV now owns 298,225 shares of the company’s stock valued at $42,614,000 after purchasing an additional 198,718 shares during the last quarter. Institutional investors and hedge funds own 78.29% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on DDOG shares. BNP Paribas initiated coverage on Datadog in a research report on Tuesday, October 8th. They set an “outperform” rating and a $150.00 price objective for the company. Cantor Fitzgerald initiated coverage on Datadog in a report on Friday, January 17th. They set an “overweight” rating and a $180.00 price target for the company. Morgan Stanley reaffirmed an “equal weight” rating and set a $143.00 target price on shares of Datadog in a research report on Thursday, January 16th. Robert W. Baird increased their price target on shares of Datadog from $140.00 to $150.00 and gave the company an “outperform” rating in a report on Friday, November 8th. Finally, Sanford C. Bernstein dropped their price objective on shares of Datadog from $157.00 to $151.00 and set an “outperform” rating on the stock in a report on Monday, October 21st. One research analyst has rated the stock with a sell rating, five have given a hold rating, twenty-five have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $157.59.

Insider Activity

In other Datadog news, Director Matthew Jacobson sold 3,393 shares of the firm’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $125.03, for a total transaction of $424,226.79. Following the transaction, the director now owns 695,086 shares in the company, valued at approximately $86,906,602.58. This trade represents a 0.49 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Olivier Pomel sold 11,195 shares of Datadog stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $139.86, for a total transaction of $1,565,732.70. Following the transaction, the chief executive officer now directly owns 379,693 shares in the company, valued at $53,103,862.98. The trade was a 2.86 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 653,874 shares of company stock valued at $93,721,154. Company insiders own 11.78% of the company’s stock.

Datadog Price Performance

DDOG stock opened at $142.61 on Friday. The company has a 50 day moving average price of $148.23 and a 200 day moving average price of $129.39. Datadog, Inc. has a fifty-two week low of $98.80 and a fifty-two week high of $170.08. The stock has a market capitalization of $48.45 billion, a PE ratio of 269.08, a price-to-earnings-growth ratio of 16.94 and a beta of 1.14.

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.