Datadog, Inc. (NASDAQ:DDOG) Shares Sold by Pier 88 Investment Partners LLC

Pier 88 Investment Partners LLC lessened its holdings in shares of Datadog, Inc. (NASDAQ:DDOG) by 4.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,900 shares of the company’s stock after selling 370 shares during the period. Pier 88 Investment Partners LLC’s holdings in Datadog were worth $1,272,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in DDOG. Proficio Capital Partners LLC acquired a new position in shares of Datadog in the 4th quarter valued at $14,884,000. ARK Investment Management LLC increased its holdings in Datadog by 62.7% in the fourth quarter. ARK Investment Management LLC now owns 127,290 shares of the company’s stock valued at $18,188,000 after buying an additional 49,050 shares in the last quarter. Y Intercept Hong Kong Ltd raised its position in shares of Datadog by 140.1% in the fourth quarter. Y Intercept Hong Kong Ltd now owns 53,116 shares of the company’s stock worth $7,590,000 after acquiring an additional 30,998 shares during the period. Baillie Gifford & Co. boosted its stake in shares of Datadog by 15.8% during the 4th quarter. Baillie Gifford & Co. now owns 10,905,133 shares of the company’s stock worth $1,558,234,000 after acquiring an additional 1,484,562 shares in the last quarter. Finally, Atom Investors LP acquired a new stake in shares of Datadog during the 3rd quarter valued at about $1,112,000. 78.29% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Datadog

In other Datadog news, 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 directly owns 371,865 shares of the company’s stock, valued at $37,986,009.75. The trade was a 25.47 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Amit Agarwal sold 25,000 shares of the stock in a transaction dated Wednesday, January 8th. The stock was sold at an average price of $141.12, for a total transaction of $3,528,000.00. Following the sale, the director now directly owns 195,667 shares in the company, valued at $27,612,527.04. This represents a 11.33 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 601,412 shares of company stock worth $75,444,584 over the last ninety days. Company insiders own 11.78% of the company’s stock.

Datadog Trading Down 3.6 %

Shares of NASDAQ:DDOG opened at $101.10 on Monday. The business has a 50-day moving average price of $123.79 and a 200 day moving average price of $130.95. Datadog, Inc. has a 12-month low of $98.30 and a 12-month high of $170.08. The company has a market capitalization of $34.65 billion, a price-to-earnings ratio of 198.24, a PEG ratio of 44.03 and a beta of 1.22.

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 net margin of 6.85% and a return on equity of 8.28%. As a group, equities research analysts predict that Datadog, Inc. will post 0.34 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

DDOG has been the topic of a number of recent analyst reports. Loop Capital increased their price target on Datadog from $160.00 to $200.00 and gave the stock a “buy” rating in a research report on Monday, December 23rd. Barclays dropped their price target on shares of Datadog from $187.00 to $180.00 and set an “overweight” rating on the stock in a research note on Friday, February 14th. Cantor Fitzgerald began coverage on shares of Datadog in a research report on Friday, January 17th. They set an “overweight” rating and a $180.00 price objective for the company. Citigroup dropped their target price on shares of Datadog from $170.00 to $165.00 and set a “buy” rating on the stock in a research report on Friday, February 14th. Finally, Stifel Nicolaus downgraded shares of Datadog from a “buy” rating to a “hold” rating and reduced their price target for the stock from $165.00 to $140.00 in a research report on Wednesday, January 29th. 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 assigned a strong buy rating to the company. Based on data from MarketBeat.com, Datadog presently has a consensus rating of “Moderate Buy” and a consensus 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.