Handelsbanken Fonder AB Reduces Stock Position in Datadog, Inc. (NASDAQ:DDOG)

Handelsbanken Fonder AB lowered its position in shares of Datadog, Inc. (NASDAQ:DDOG) by 6.5% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 81,426 shares of the company’s stock after selling 5,671 shares during the quarter. Handelsbanken Fonder AB’s holdings in Datadog were worth $11,635,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the company. Ieq Capital LLC boosted its position in Datadog by 2.8% during the 4th quarter. Ieq Capital LLC now owns 407,835 shares of the company’s stock valued at $58,276,000 after buying an additional 11,164 shares during the period. Private Wealth Partners LLC purchased a new stake in shares of Datadog in the 4th quarter worth about $1,223,000. Good Life Advisors LLC purchased a new stake in shares of Datadog in the 4th quarter worth about $262,000. Global Retirement Partners LLC lifted its position in shares of Datadog by 73.6% in the 4th quarter. Global Retirement Partners LLC now owns 637 shares of the company’s stock worth $91,000 after purchasing an additional 270 shares during the period. Finally, Atria Wealth Solutions Inc. lifted its position in shares of Datadog by 450.8% in the 4th quarter. Atria Wealth Solutions Inc. now owns 42,626 shares of the company’s stock worth $6,091,000 after purchasing an additional 34,887 shares during the period. Hedge funds and other institutional investors own 78.29% of the company’s stock.

Datadog Stock Down 5.2 %

Shares of DDOG stock opened at $119.67 on Friday. The company has a 50 day moving average price of $142.18 and a 200-day moving average price of $131.76. Datadog, Inc. has a 52 week low of $98.80 and a 52 week high of $170.08. The firm has a market capitalization of $40.66 billion, a PE ratio of 234.66, a P/E/G ratio of 44.03 and a beta of 1.15.

Datadog (NASDAQ:DDOG) last announced its quarterly earnings results on Thursday, February 13th. The company reported $0.13 EPS 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%. Analysts anticipate that Datadog, Inc. will post 0.34 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts have recently commented on DDOG shares. Rosenblatt Securities raised their target price on shares of Datadog from $148.00 to $160.00 and gave the stock a “buy” rating in a research report on Wednesday, February 12th. Scotiabank dropped their target price on shares of Datadog from $135.00 to $133.00 and set a “sector outperform” rating for the company in a research report on Friday, November 8th. Needham & Company LLC reaffirmed a “buy” rating and issued a $160.00 target price on shares of Datadog in a research report on Friday, February 14th. Macquarie reaffirmed an “outperform” rating and issued a $200.00 target price on shares of Datadog in a research report on Tuesday, February 11th. Finally, Royal Bank of Canada raised their target price on shares of Datadog from $151.00 to $170.00 and gave the stock an “outperform” rating in a research report on Friday, January 3rd. One analyst has rated the stock with a sell rating, seven have given a hold rating, twenty-two have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $158.39.

Insider Transactions at Datadog

In related news, CEO Olivier Pomel sold 11,195 shares of the firm’s stock in a transaction that occurred on Monday, January 27th. The shares were sold at an average price of $139.86, for a total value of $1,565,732.70. Following the transaction, the chief executive officer now owns 379,693 shares of the company’s stock, valued at approximately $53,103,862.98. This trade represents a 2.86 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 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 completion of the transaction, the chief technology officer now directly owns 324,778 shares in the company, valued at approximately $45,861,901.38. The trade was a 28.13 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 556,674 shares of company stock worth $82,904,025 over the last three months. 11.78% of the stock is currently owned by company insiders.

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.