Kingsview Wealth Management LLC Sells 5,363 Shares of Datadog, Inc. (NASDAQ:DDOG)

Kingsview Wealth Management LLC lowered its position in Datadog, Inc. (NASDAQ:DDOG) by 32.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 11,413 shares of the company’s stock after selling 5,363 shares during the period. Kingsview Wealth Management LLC’s holdings in Datadog were worth $1,313,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Cerity Partners LLC raised its position in shares of 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 purchasing an additional 10,318 shares during the period. Champlain Investment Partners LLC bought a new stake in Datadog during the 3rd quarter valued at $52,561,000. Eagle Asset Management Inc. raised its holdings in Datadog by 72.4% during the third 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 last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Datadog by 2.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,176,577 shares of the company’s stock valued at $135,377,000 after buying an additional 29,404 shares in the last quarter. Finally, L & S Advisors Inc grew its holdings in shares of Datadog by 6.7% during the third quarter. L & S Advisors Inc now owns 12,891 shares of the company’s stock valued at $1,483,000 after buying an additional 813 shares during the last quarter. Institutional investors and hedge funds own 78.29% of the company’s stock.

Datadog Stock Performance

NASDAQ:DDOG opened at $154.39 on Wednesday. The firm has a market capitalization of $52.45 billion, a price-to-earnings ratio of 291.31, a P/E/G ratio of 20.27 and a beta of 1.10. The stock has a fifty day moving average of $125.97 and a 200 day moving average of $120.59. Datadog, Inc. has a 52-week low of $98.80 and a 52-week high of $157.48.

Insider Activity

In other news, Director Shardul Shah sold 15,832 shares of the stock in a transaction on Friday, October 4th. The shares were sold at an average price of $120.02, for a total value of $1,900,156.64. Following the transaction, the director now owns 459,449 shares of the company’s stock, valued at $55,143,068.98. This represents a 3.33 % decrease in their position. 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 company’s stock in a transaction on Monday, October 14th. The stock was sold at an average price of $129.33, for a total transaction of $16,438,489.65. Following the completion of the transaction, the chief technology officer now owns 336,165 shares of the company’s stock, valued at $43,476,219.45. This trade represents a 27.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 541,491 shares of company stock worth $68,927,496. 11.78% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on DDOG shares. TD Cowen reaffirmed a “buy” rating and issued a $165.00 price target on shares of Datadog in a research report on Tuesday, November 19th. Wedbush raised Datadog from a “buy” rating to a “strong-buy” rating in a research note on Thursday, October 17th. Rosenblatt Securities lifted their target price on Datadog from $140.00 to $148.00 and gave the company a “buy” rating in a research report on Friday, November 8th. BTIG Research raised Datadog from a “neutral” rating to a “buy” rating and set a $143.00 price target for the company in a research report on Thursday, August 1st. Finally, Sanford C. Bernstein cut their price objective on shares of Datadog from $157.00 to $151.00 and set an “outperform” rating on the stock in a report on Monday, October 21st. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, twenty-five have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $150.96.

Datadog Company 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.