Price T Rowe Associates Inc. MD Sells 1,591,834 Shares of Datadog, Inc. (NASDAQ:DDOG)

Price T Rowe Associates Inc. MD lowered its stake in shares of Datadog, Inc. (NASDAQ:DDOG - Free Report) by 22.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,468,189 shares of the company's stock after selling 1,591,834 shares during the period. Price T Rowe Associates Inc. MD owned approximately 1.61% of Datadog worth $781,350,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of DDOG. Retirement Wealth Solutions LLC bought a new stake in shares of Datadog during the 4th quarter worth approximately $30,000. Avior Wealth Management LLC raised its position in Datadog by 55.9% during the fourth quarter. Avior Wealth Management LLC now owns 226 shares of the company's stock worth $32,000 after acquiring an additional 81 shares in the last quarter. Kieckhefer Group LLC acquired a new stake in Datadog in the fourth quarter valued at $43,000. Summit Securities Group LLC bought a new position in shares of Datadog in the 4th quarter valued at about $43,000. Finally, Friedenthal Financial acquired a new position in shares of Datadog during the 4th quarter worth about $54,000. Institutional investors and hedge funds own 78.29% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Scotiabank reduced their price target on Datadog from $155.00 to $125.00 and set a "sector outperform" rating for the company in a report on Tuesday, April 15th. Cantor Fitzgerald assumed coverage on Datadog in a report on Friday, January 17th. They set an "overweight" rating and a $180.00 target price on the stock. UBS Group reduced their price objective on shares of Datadog from $164.00 to $120.00 and set a "buy" rating for the company in a research report on Tuesday, April 15th. Truist Financial dropped their price objective on shares of Datadog from $140.00 to $120.00 and set a "hold" rating on the stock in a research report on Monday, March 31st. Finally, Wolfe Research downgraded shares of Datadog from an "outperform" rating to a "peer perform" rating in a report on Tuesday, February 18th. Seven investment analysts have rated the stock with 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 company currently has a consensus rating of "Moderate Buy" and a consensus price target of $150.33.

Insider Buying and Selling

In other news, CEO Olivier Pomel sold 107,365 shares of Datadog stock in a transaction on Monday, April 7th. The shares were sold at an average price of $87.33, for a total transaction of $9,376,185.45. Following the transaction, the chief executive officer now owns 563,598 shares in the company, valued at approximately $49,219,013.34. The trade was a 16.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CRO Sean Michael Walters sold 8,454 shares of the 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 completion of the sale, the executive now owns 185,871 shares of the company's stock, 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 have sold a total of 512,561 shares of company stock worth $57,166,767 in the last ninety days. Company insiders own 11.78% of the company's stock.

Datadog Stock Down 0.9 %

Shares of NASDAQ DDOG traded down $0.91 during midday trading on Monday, reaching $100.61. 733,923 shares of the company were exchanged, compared to its average volume of 4,340,371. Datadog, Inc. has a one year low of $81.63 and a one year high of $170.08. The stock has a market cap of $34.49 billion, a P/E ratio of 196.71, a PEG ratio of 44.03 and a beta of 1.20. The stock's 50-day moving average price is $102.74 and its 200-day moving average price is $127.32.

Datadog (NASDAQ:DDOG - Get Free Report) 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 research analysts anticipate that Datadog, Inc. will post 0.34 EPS for the current year.

Datadog 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.