Zurcher Kantonalbank Zurich Cantonalbank Reduces Position in Datadog, Inc. (NASDAQ:DDOG)

Zurcher Kantonalbank Zurich Cantonalbank lowered its position in Datadog, Inc. (NASDAQ:DDOG) by 68.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 101,800 shares of the company’s stock after selling 216,596 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Datadog were worth $14,546,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Los Angeles Capital Management LLC raised its position in Datadog by 172.2% in the 3rd quarter. Los Angeles Capital Management LLC now owns 38,841 shares of the company’s stock valued at $4,469,000 after purchasing an additional 24,574 shares during the last quarter. ARK Investment Management LLC increased its stake 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 purchasing an additional 49,050 shares during the period. Baillie Gifford & Co. raised its holdings in shares of Datadog by 15.8% in the fourth quarter. Baillie Gifford & Co. now owns 10,905,133 shares of the company’s stock valued at $1,558,234,000 after buying an additional 1,484,562 shares during the last quarter. Y Intercept Hong Kong Ltd boosted its stake in shares of Datadog by 140.1% during the fourth quarter. Y Intercept Hong Kong Ltd now owns 53,116 shares of the company’s stock worth $7,590,000 after buying an additional 30,998 shares during the period. Finally, Atom Investors LP purchased a new position in shares of Datadog during the third quarter worth about $1,112,000. 78.29% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Datadog

In related news, CEO Olivier Pomel sold 107,365 shares of the company’s stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $109.56, for a total transaction of $11,762,909.40. Following the transaction, the chief executive officer now owns 435,793 shares of the company’s stock, valued at approximately $47,745,481.08. This represents a 19.77 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CTO Alexis Le-Quoc sold 127,105 shares of the firm’s stock in a transaction that occurred on Wednesday, January 8th. The stock was sold at an average price of $141.21, for a total transaction of $17,948,497.05. Following the sale, the chief technology officer now owns 324,778 shares in the company, valued at approximately $45,861,901.38. This trade represents a 28.13 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 517,995 shares of company stock valued at $69,482,484 over the last quarter. Insiders own 11.78% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on the company. DA Davidson upped their price objective on Datadog from $150.00 to $165.00 and gave the company a “buy” rating in a research note on Monday, February 10th. JMP Securities restated a “market perform” rating on shares of Datadog in a research note on Friday, February 14th. Guggenheim reiterated a “neutral” rating on shares of Datadog in a research report on Wednesday, January 22nd. Stifel Nicolaus downgraded shares of Datadog from a “buy” rating to a “hold” rating and cut their price objective for the stock from $165.00 to $140.00 in a research report on Wednesday, January 29th. Finally, Wells Fargo & Company cut shares of Datadog from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $152.00 to $140.00 in a research note on Thursday, February 13th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, twenty-one have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $158.70.

Datadog Price Performance

Shares of NASDAQ DDOG opened at $102.03 on Thursday. The firm’s 50-day moving average is $132.57 and its two-hundred day moving average is $131.45. The company has a market capitalization of $34.97 billion, a PE ratio of 200.06, a price-to-earnings-growth ratio of 44.03 and a beta of 1.22. Datadog, Inc. has a 12-month low of $98.80 and a 12-month high of $170.08.

Datadog (NASDAQ:DDOG) last posted its 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%. On average, analysts forecast that Datadog, Inc. will post 0.34 EPS for the current fiscal year.

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.