Quent Capital LLC Lowers Stake in Datadog, Inc. (NASDAQ:DDOG)

Quent Capital LLC cut its position in shares of Datadog, Inc. (NASDAQ:DDOG) by 42.9% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 1,303 shares of the company’s stock after selling 980 shares during the quarter. Quent Capital LLC’s holdings in Datadog were worth $186,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Retirement Wealth Solutions LLC purchased a new stake in shares of Datadog during the fourth quarter worth about $30,000. Avior Wealth Management LLC grew its holdings in shares of Datadog by 55.9% during the fourth quarter. Avior Wealth Management LLC now owns 226 shares of the company’s stock worth $32,000 after buying an additional 81 shares in the last quarter. True Wealth Design LLC grew its holdings in shares of Datadog by 12,000.0% during the third quarter. True Wealth Design LLC now owns 242 shares of the company’s stock worth $28,000 after buying an additional 240 shares in the last quarter. Meeder Asset Management Inc. grew its holdings 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 during the period. Finally, Quarry LP purchased a new stake in Datadog in the third quarter valued at approximately $33,000. 78.29% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Datadog

In other Datadog news, CTO Alexis Le-Quoc sold 127,105 shares of the company’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $142.78, for a total value of $18,148,051.90. Following the completion of the sale, the chief technology officer now directly owns 324,778 shares of the company’s stock, valued at approximately $46,371,802.84. This represents a 28.13 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, President Amit Agarwal sold 150,000 shares of the company’s stock in a transaction dated 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 sale, the president now directly owns 214,275 shares of the company’s stock, valued at $27,005,078.25. The trade was a 41.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 777,586 shares of company stock worth $111,444,979 in the last 90 days. Corporate insiders own 11.78% of the company’s stock.

Datadog Stock Up 1.8 %

Shares of DDOG opened at $148.09 on Thursday. The firm has a 50-day moving average price of $146.75 and a 200 day moving average price of $130.77. The firm has a market capitalization of $50.31 billion, a PE ratio of 279.42, a P/E/G ratio of 16.83 and a beta of 1.15. Datadog, Inc. has a 52-week low of $98.80 and a 52-week high of $170.08.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on DDOG shares. Royal Bank of Canada boosted their target price on shares of Datadog from $151.00 to $170.00 and gave the company an “outperform” rating in a report on Friday, January 3rd. Truist Financial downgraded shares of Datadog from a “buy” rating to a “hold” rating and lowered their target price for the company from $170.00 to $150.00 in a report on Tuesday, January 7th. DA Davidson boosted their price objective on shares of Datadog from $150.00 to $165.00 and gave the stock a “buy” rating in a research note on Monday. Cantor Fitzgerald began coverage on shares of Datadog in a research note on Friday, January 17th. They set an “overweight” rating and a $180.00 price objective for the company. Finally, Macquarie reissued an “outperform” rating and set a $200.00 target price on shares of Datadog in a research report on Tuesday. One analyst has rated the stock with a sell rating, five have given a hold rating, twenty-five have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $158.52.

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.