Exchange Traded Concepts LLC Cuts Holdings in Datadog, Inc. (NASDAQ:DDOG)

Exchange Traded Concepts LLC lowered its stake in shares of Datadog, Inc. (NASDAQ:DDOG) by 8.1% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 27,146 shares of the company’s stock after selling 2,406 shares during the quarter. Exchange Traded Concepts LLC’s holdings in Datadog were worth $3,879,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in DDOG. Dimensional Fund Advisors LP raised its position in Datadog by 10.8% during the second quarter. Dimensional Fund Advisors LP now owns 306,402 shares of the company’s stock valued at $39,735,000 after purchasing an additional 29,890 shares in the last quarter. Toronto Dominion Bank increased its position in shares of Datadog by 1.3% during the 2nd quarter. Toronto Dominion Bank now owns 29,499 shares of the company’s stock valued at $3,826,000 after purchasing an additional 381 shares during the last quarter. APG Asset Management N.V. raised its holdings in shares of Datadog by 9.8% during the 2nd quarter. APG Asset Management N.V. now owns 197,943 shares of the company’s stock valued at $23,953,000 after buying an additional 17,588 shares in the last quarter. Dark Forest Capital Management LP bought a new stake in Datadog in the 2nd quarter worth approximately $367,000. Finally, MBB Public Markets I LLC purchased a new stake in Datadog in the second quarter worth approximately $2,469,000. 78.29% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. TD Cowen reissued a “buy” rating and set a $165.00 price target on shares of Datadog in a research note on Tuesday, November 19th. BNP Paribas initiated coverage on shares of Datadog in a research report on Tuesday, October 8th. They issued an “outperform” rating and a $150.00 target price on the stock. Stifel Nicolaus upped their price target on shares of Datadog from $141.00 to $165.00 and gave the company a “buy” rating in a research report on Wednesday, December 18th. Rosenblatt Securities lifted their price objective on Datadog from $140.00 to $148.00 and gave the stock a “buy” rating in a report on Friday, November 8th. Finally, Jefferies Financial Group increased their target price on Datadog from $155.00 to $170.00 and gave the company a “buy” rating in a report on Monday, January 6th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, twenty-six have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $158.45.

Datadog Price Performance

Shares of NASDAQ DDOG opened at $140.99 on Friday. Datadog, Inc. has a 1 year low of $98.80 and a 1 year high of $170.08. The firm has a 50-day moving average of $147.36 and a 200 day moving average of $128.88. The stock has a market cap of $47.90 billion, a P/E ratio of 266.02, a price-to-earnings-growth ratio of 16.28 and a beta of 1.14.

Insider Buying and Selling at Datadog

In other news, Director Matthew Jacobson sold 3,393 shares of Datadog stock in a transaction dated Monday, November 11th. The stock was 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 owns 695,086 shares of the company’s stock, valued at $86,906,602.58. The trade was a 0.49 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Olivier Pomel sold 178,723 shares of the company’s stock in a transaction dated 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 transaction, the chief executive officer now owns 379,693 shares in the company, valued at approximately $61,236,887.04. The trade was a 32.01 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 642,679 shares of company stock valued at $92,155,421. Corporate insiders own 11.78% of the company’s stock.

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.