EverSource Wealth Advisors LLC Reduces Holdings in Datadog, Inc. (NASDAQ:DDOG)

EverSource Wealth Advisors LLC cut its stake in shares of Datadog, Inc. (NASDAQ:DDOG) by 75.2% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 418 shares of the company’s stock after selling 1,269 shares during the quarter. EverSource Wealth Advisors LLC’s holdings in Datadog were worth $60,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of DDOG. Jennison Associates LLC boosted its holdings in Datadog by 47.9% during the 4th quarter. Jennison Associates LLC now owns 9,278,648 shares of the company’s stock valued at $1,325,826,000 after acquiring an additional 3,005,300 shares during the period. Baillie Gifford & Co. boosted its holdings in Datadog by 15.8% during the 4th quarter. Baillie Gifford & Co. now owns 10,905,133 shares of the company’s stock valued at $1,558,234,000 after acquiring an additional 1,484,562 shares during the period. Holocene Advisors LP boosted its holdings in Datadog by 205.2% during the 3rd quarter. Holocene Advisors LP now owns 1,632,870 shares of the company’s stock valued at $187,878,000 after acquiring an additional 1,097,815 shares during the period. Champlain Investment Partners LLC purchased a new stake in Datadog during the 3rd quarter valued at about $52,561,000. Finally, Eagle Asset Management Inc. lifted 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 buying an additional 384,121 shares during the period. 78.29% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

DDOG has been the subject of several research analyst reports. Loop Capital increased their price objective on Datadog from $160.00 to $200.00 and gave the stock a “buy” rating in a report on Monday, December 23rd. Citigroup dropped their price objective on Datadog from $170.00 to $165.00 and set a “buy” rating for the company in a report on Friday, February 14th. Guggenheim reiterated a “neutral” rating on shares of Datadog in a report on Wednesday, January 22nd. Truist Financial dropped their price objective on Datadog from $150.00 to $140.00 and set a “hold” rating for the company in a report on Friday, February 14th. Finally, Royal Bank of Canada increased their price objective on Datadog from $151.00 to $170.00 and gave the stock an “outperform” rating in a report on Friday, January 3rd. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, twenty-one have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $158.70.

Datadog Price Performance

DDOG stock opened at $104.43 on Thursday. The company has a market cap of $35.79 billion, a P/E ratio of 204.77, a price-to-earnings-growth ratio of 44.03 and a beta of 1.22. Datadog, Inc. has a 1 year low of $98.30 and a 1 year high of $170.08. The stock’s fifty day moving average price is $128.45 and its 200-day moving average price is $130.99.

Datadog (NASDAQ:DDOG) last released its quarterly 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 expect that Datadog, Inc. will post 0.34 earnings per share for the current year.

Insider Transactions at Datadog

In related news, Director Shardul Shah sold 7,916 shares of Datadog stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $142.12, for a total transaction of $1,125,021.92. Following the transaction, the director now directly owns 427,785 shares in the company, valued at approximately $60,796,804.20. The trade was a 1.82 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Alexis Le-Quoc sold 127,105 shares of Datadog stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $102.15, for a total value of $12,983,775.75. Following the transaction, the chief technology officer now owns 371,865 shares in the company, valued at $37,986,009.75. This trade represents a 25.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 626,412 shares of company stock worth $79,144,334 in the last ninety days. 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.