Datadog, Inc. (NASDAQ:DDOG) Holdings Cut by Adage Capital Partners GP L.L.C.

Adage Capital Partners GP L.L.C. lessened its holdings in shares of Datadog, Inc. (NASDAQ:DDOG - Free Report) by 71.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 76,500 shares of the company's stock after selling 188,500 shares during the period. Adage Capital Partners GP L.L.C.'s holdings in Datadog were worth $10,931,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Retirement Wealth Solutions LLC purchased a new position in shares of Datadog during the 4th quarter worth about $30,000. Avior Wealth Management LLC grew its position in Datadog by 55.9% during the fourth quarter. Avior Wealth Management LLC now owns 226 shares of the company's stock valued at $32,000 after acquiring an additional 81 shares during the period. Coppell Advisory Solutions LLC grew its holdings in shares of Datadog by 178.8% during the 4th quarter. Coppell Advisory Solutions LLC now owns 276 shares of the company's stock worth $40,000 after purchasing an additional 177 shares during the period. Kieckhefer Group LLC acquired a new stake in shares of Datadog in the fourth quarter worth $43,000. Finally, Summit Securities Group LLC purchased a new stake in Datadog during the 4th quarter worth $43,000. Institutional investors and hedge funds own 78.29% of the company's stock.

Datadog Stock Performance

Shares of NASDAQ:DDOG traded down $1.25 during trading hours on Wednesday, hitting $101.06. The stock had a trading volume of 2,144,565 shares, compared to its average volume of 4,339,692. The stock's fifty day simple moving average is $101.72 and its 200 day simple moving average is $126.95. The firm has a market capitalization of $34.64 billion, a price-to-earnings ratio of 198.16, a PEG ratio of 44.03 and a beta of 1.20. Datadog, Inc. has a 1-year low of $81.63 and a 1-year high of $170.08.

Datadog (NASDAQ:DDOG - Get Free Report) last announced its earnings results on Thursday, February 13th. The company reported $0.13 earnings per share 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%. As a group, research analysts anticipate that Datadog, Inc. will post 0.34 EPS for the current year.

Insider Activity

In related news, Director Amit Agarwal sold 10,167 shares of the firm's stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $115.86, for a total value of $1,177,948.62. Following the completion of the transaction, the director now owns 82,324 shares of the company's stock, valued at approximately $9,538,058.64. This trade represents a 10.99 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CRO Sean Michael Walters sold 8,454 shares of the company's stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $102.04, for a total value of $862,646.16. Following the transaction, the executive now directly owns 185,871 shares in the company, valued at $18,966,276.84. The trade was a 4.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 512,561 shares of company stock worth $57,166,767 over the last 90 days. 11.78% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. Royal Bank of Canada boosted their price target on Datadog from $151.00 to $170.00 and gave the stock an "outperform" rating in a research report on Friday, January 3rd. Wolfe Research cut shares of Datadog from an "outperform" rating to a "peer perform" rating in a research report on Tuesday, February 18th. Citigroup decreased their target price on shares of Datadog from $170.00 to $165.00 and set a "buy" rating for the company in a research note on Friday, February 14th. Needham & Company LLC reaffirmed a "buy" rating and set a $160.00 price target on shares of Datadog in a research note on Tuesday, March 4th. Finally, Guggenheim restated a "neutral" rating on shares of Datadog in a research note on Wednesday, January 22nd. Seven research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $150.33.

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.