Ballentine Partners LLC Sells 983 Shares of Datadog, Inc. (NASDAQ:DDOG)

Ballentine Partners LLC lowered its stake in shares of Datadog, Inc. (NASDAQ:DDOG) by 24.1% during the fourth quarter, Holdings Channel.com reports. The firm owned 3,102 shares of the company’s stock after selling 983 shares during the quarter. Ballentine Partners LLC’s holdings in Datadog were worth $443,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. True Wealth Design LLC boosted its holdings in shares of Datadog by 12,000.0% in the 3rd quarter. True Wealth Design LLC now owns 242 shares of the company’s stock valued at $28,000 after buying an additional 240 shares in the last quarter. Retirement Wealth Solutions LLC purchased a new stake in Datadog during the fourth quarter valued at approximately $30,000. Meeder Asset Management Inc. boosted its stake 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 acquiring an additional 115 shares in the last quarter. Quarry LP purchased a new position in Datadog in the third quarter worth $33,000. Finally, American National Bank & Trust acquired a new position in shares of Datadog during the third quarter worth $39,000. Hedge funds and other institutional investors own 78.29% of the company’s stock.

Datadog Stock Performance

Shares of NASDAQ DDOG opened at $140.20 on Friday. The firm has a market cap of $47.63 billion, a PE ratio of 264.53, a PEG ratio of 16.09 and a beta of 1.14. Datadog, Inc. has a one year low of $98.80 and a one year high of $170.08. The firm has a fifty day moving average of $146.89 and a 200 day moving average of $128.74.

Analysts Set New Price Targets

A number of analysts have recently weighed in on DDOG shares. Guggenheim reissued a “neutral” rating on shares of Datadog in a research report on Wednesday. BNP Paribas began coverage on Datadog in a research note on Tuesday, October 8th. They set an “outperform” rating and a $150.00 price target on the stock. BMO Capital Markets increased their price objective on shares of Datadog from $135.00 to $145.00 and gave the company an “outperform” rating in a research report on Friday, November 8th. Macquarie started coverage on shares of Datadog in a research report on Thursday, December 12th. They set an “outperform” rating and a $200.00 target price on the stock. Finally, Barclays raised their price target on shares of Datadog from $155.00 to $187.00 and gave the stock an “overweight” rating in a report on Friday, December 6th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, twenty-six have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $158.45.

Insider Buying and Selling

In related news, General Counsel Kerry Acocella sold 2,488 shares of the business’s stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $158.04, for a total transaction of $393,203.52. Following the completion of the sale, the general counsel now directly owns 68,758 shares in the company, valued at approximately $10,866,514.32. The trade was a 3.49 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Shardul Shah sold 7,916 shares of the firm’s stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $142.12, for a total value of $1,125,021.92. Following the completion of the transaction, the director now owns 427,785 shares in the company, valued at $60,796,804.20. The trade was a 1.82 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 617,679 shares of company stock worth $88,668,671 in the last 90 days. 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.