Pictet Asset Management Holding SA Sells 9,534 Shares of Datadog, Inc. (NASDAQ:DDOG)

Pictet Asset Management Holding SA cut its stake in Datadog, Inc. (NASDAQ:DDOG) by 1.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 763,724 shares of the company’s stock after selling 9,534 shares during the period. Pictet Asset Management Holding SA’s holdings in Datadog were worth $109,129,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in Datadog during the fourth quarter valued at approximately $462,910,000. Jennison Associates LLC boosted its holdings in shares of Datadog by 47.9% in the 4th quarter. Jennison Associates LLC now owns 9,278,648 shares of the company’s stock valued at $1,325,826,000 after buying an additional 3,005,300 shares during the last quarter. Baillie Gifford & Co. grew its stake 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 in the last quarter. William Blair Investment Management LLC acquired a new position in Datadog during the fourth quarter worth $173,163,000. Finally, Holocene Advisors LP raised its position in Datadog by 205.2% during the third quarter. Holocene Advisors LP now owns 1,632,870 shares of the company’s stock worth $187,878,000 after acquiring an additional 1,097,815 shares in the last quarter. Institutional investors own 78.29% of the company’s stock.

Insider Buying and Selling

In other Datadog news, CRO Sean Michael Walters sold 8,454 shares of Datadog stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $102.04, for a total transaction of $862,646.16. Following the transaction, the executive now directly owns 185,871 shares of the company’s stock, valued at approximately $18,966,276.84. The trade was a 4.35 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO Alexis Le-Quoc sold 127,105 shares of the stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $102.15, for a total value of $12,983,775.75. Following the completion of the sale, the chief technology officer now directly owns 371,865 shares of the company’s stock, valued at approximately $37,986,009.75. The trade was a 25.47 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 601,412 shares of company stock worth $75,444,584 in the last ninety days. Company insiders own 11.78% of the company’s stock.

Analyst Upgrades and Downgrades

DDOG has been the topic of a number of research reports. Guggenheim reiterated a “neutral” rating on shares of Datadog in a research note on Wednesday, January 22nd. Stifel Nicolaus cut Datadog from a “buy” rating to a “hold” rating and dropped their price target for the stock from $165.00 to $140.00 in a report on Wednesday, January 29th. Barclays decreased their price objective on Datadog from $187.00 to $180.00 and set an “overweight” rating on the stock in a report on Friday, February 14th. Truist Financial dropped their target price on Datadog from $150.00 to $140.00 and set a “hold” rating for the company in a report on Friday, February 14th. Finally, Citigroup decreased their price target on shares of Datadog from $170.00 to $165.00 and set a “buy” rating on the stock in a research note on Friday, February 14th. One investment 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 given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $158.70.

Datadog Stock Performance

Shares of NASDAQ:DDOG opened at $101.10 on Friday. Datadog, Inc. has a 52-week low of $98.30 and a 52-week high of $170.08. The company has a market capitalization of $34.65 billion, a PE ratio of 198.24, a price-to-earnings-growth ratio of 44.03 and a beta of 1.22. The company has a fifty day moving average of $123.79 and a 200-day moving average of $130.65.

Datadog (NASDAQ:DDOG) last posted its earnings results on Thursday, February 13th. The company reported $0.13 EPS for the quarter, missing the consensus estimate of $0.44 by ($0.31). Datadog had a net margin of 6.85% and a return on equity of 8.28%. On average, equities analysts forecast that Datadog, Inc. will post 0.34 EPS for the current fiscal year.

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.