Oak Thistle LLC Cuts Holdings in Datadog, Inc. (NASDAQ:DDOG)

Oak Thistle LLC lowered its holdings in Datadog, Inc. (NASDAQ:DDOG) by 51.8% in the 4th quarter, Holdings Channel reports. The firm owned 1,438 shares of the company’s stock after selling 1,547 shares during the period. Oak Thistle LLC’s holdings in Datadog were worth $205,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of DDOG. True Wealth Design LLC raised its position in Datadog by 12,000.0% in the 3rd quarter. True Wealth Design LLC now owns 242 shares of the company’s stock worth $28,000 after buying an additional 240 shares during the last quarter. Meeder Asset Management Inc. grew its stake in shares of Datadog by 66.5% in the third quarter. Meeder Asset Management Inc. now owns 288 shares of the company’s stock worth $33,000 after acquiring an additional 115 shares during the period. Quarry LP bought a new position in Datadog during the third quarter valued at approximately $33,000. American National Bank & Trust purchased a new stake in Datadog in the third quarter worth approximately $39,000. Finally, Kieckhefer Group LLC purchased a new stake in Datadog in the fourth quarter worth approximately $43,000. 78.29% of the stock is owned by institutional investors.

Datadog Stock Up 1.2 %

DDOG opened at $138.40 on Friday. The company has a market capitalization of $47.02 billion, a PE ratio of 261.14, a price-to-earnings-growth ratio of 16.31 and a beta of 1.14. The firm has a 50-day simple moving average of $145.75 and a two-hundred day simple moving average of $128.57. Datadog, Inc. has a 52 week low of $98.80 and a 52 week high of $170.08.

Insider Activity at Datadog

In related news, Director Matthew Jacobson sold 3,393 shares of the firm’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $125.03, for a total value of $424,226.79. Following the completion of the transaction, the director now directly owns 695,086 shares of the company’s stock, valued at approximately $86,906,602.58. This trade represents a 0.49 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Olivier Pomel sold 178,723 shares of the business’s stock in a transaction on Monday, December 9th. The stock was sold at an average price of $161.28, for a total transaction of $28,824,445.44. Following the completion of the sale, the chief executive officer now owns 379,693 shares in the company, valued at $61,236,887.04. This represents a 32.01 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 617,679 shares of company stock valued at $88,668,671. Insiders own 11.78% of the company’s stock.

Wall Street Analysts Forecast Growth

DDOG has been the topic of several research analyst reports. Scotiabank lowered their price target on Datadog from $135.00 to $133.00 and set a “sector outperform” rating on the stock in a report on Friday, November 8th. BMO Capital Markets increased their target price on Datadog from $135.00 to $145.00 and gave the company an “outperform” rating in a report on Friday, November 8th. Barclays boosted their price target on Datadog from $155.00 to $187.00 and gave the company an “overweight” rating in a research note on Friday, December 6th. Truist Financial cut shares of Datadog from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $170.00 to $150.00 in a research note on Tuesday, January 7th. Finally, Robert W. Baird boosted their target price on shares of Datadog from $140.00 to $150.00 and gave the company an “outperform” rating in a research report on Friday, November 8th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-six have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $158.45.

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.