Datadog, Inc. (NASDAQ:DDOG) Shares Sold by Prudential Financial Inc.

Prudential Financial Inc. lowered its position in shares of Datadog, Inc. (NASDAQ:DDOG) by 23.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 102,400 shares of the company’s stock after selling 32,085 shares during the quarter. Prudential Financial Inc.’s holdings in Datadog were worth $14,632,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Quest Partners LLC boosted its holdings in shares of Datadog by 2,323.9% during the third quarter. Quest Partners LLC now owns 1,115 shares of the company’s stock worth $128,000 after purchasing an additional 1,069 shares during the last quarter. Cerity Partners LLC lifted its position in Datadog by 33.9% during the third quarter. Cerity Partners LLC now owns 40,752 shares of the company’s stock worth $4,689,000 after buying an additional 10,318 shares during the period. Larson Financial Group LLC boosted its stake in Datadog by 3,718.2% in the 3rd quarter. Larson Financial Group LLC now owns 840 shares of the company’s stock worth $97,000 after buying an additional 818 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in Datadog in the 3rd quarter valued at about $780,000. Finally, Loomis Sayles & Co. L P acquired a new position in shares of Datadog during the 3rd quarter valued at about $334,000. 78.29% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

DDOG has been the subject of a number of recent analyst reports. Rosenblatt Securities boosted their target price on shares of Datadog from $148.00 to $160.00 and gave the company a “buy” rating in a report on Wednesday, February 12th. Citigroup lowered their price objective on shares of Datadog from $170.00 to $165.00 and set a “buy” rating for the company in a research note on Friday, February 14th. Needham & Company LLC reaffirmed a “buy” rating and issued a $160.00 target price on shares of Datadog in a research report on Tuesday, March 4th. Royal Bank of Canada boosted their price target on Datadog from $151.00 to $170.00 and gave the company an “outperform” rating in a research report on Friday, January 3rd. Finally, Truist Financial dropped their price target on Datadog from $150.00 to $140.00 and set a “hold” rating for the company in a research note on Friday, February 14th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, twenty-one have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $158.70.

Datadog Trading Down 2.9 %

DDOG stock opened at $104.85 on Friday. The stock’s 50 day simple moving average is $124.54 and its 200 day simple moving average is $130.69. Datadog, Inc. has a 12-month low of $98.30 and a 12-month high of $170.08. The firm has a market cap of $35.94 billion, a P/E ratio of 205.59, a P/E/G ratio of 44.03 and a beta of 1.22.

Datadog (NASDAQ:DDOG) last issued its earnings results on Thursday, February 13th. The company reported $0.13 earnings per share 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%. On average, research analysts forecast that Datadog, Inc. will post 0.34 EPS for the current fiscal year.

Insiders Place Their Bets

In other Datadog news, CRO Sean Michael Walters sold 8,454 shares of the stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $102.04, for a total value of $862,646.16. Following the sale, the executive now directly owns 185,871 shares of the company’s stock, valued at $18,966,276.84. This trade represents a 4.35 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CTO Alexis Le-Quoc sold 127,105 shares of the firm’s 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 completion of the sale, the chief technology officer now owns 371,865 shares in the company, valued at $37,986,009.75. The trade was a 25.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 601,412 shares of company stock valued at $75,444,584 over the last quarter. 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.