Ensign Peak Advisors Inc Cuts Stake in Datadog, Inc. (NASDAQ:DDOG)

Ensign Peak Advisors Inc trimmed its holdings in shares of Datadog, Inc. (NASDAQ:DDOG - Free Report) by 1.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 917,085 shares of the company's stock after selling 16,768 shares during the period. Ensign Peak Advisors Inc owned about 0.27% of Datadog worth $131,042,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Retirement Wealth Solutions LLC bought a new stake in Datadog in the 4th quarter valued at about $30,000. Avior Wealth Management LLC raised its stake in Datadog by 55.9% in the 4th 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 raised its stake in Datadog by 178.8% in the 4th quarter. Coppell Advisory Solutions LLC now owns 276 shares of the company's stock valued at $40,000 after acquiring an additional 177 shares during the period. Kieckhefer Group LLC bought a new stake in Datadog in the 4th quarter valued at about $43,000. Finally, Summit Securities Group LLC bought a new stake in Datadog in the 4th quarter valued at about $43,000. 78.29% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

DDOG has been the topic of a number of research reports. Jefferies Financial Group restated a "buy" rating on shares of Datadog in a research note on Tuesday, May 6th. Needham & Company LLC lowered their price objective on Datadog from $160.00 to $130.00 and set a "buy" rating on the stock in a research note on Wednesday, May 7th. JMP Securities reaffirmed a "market perform" rating on shares of Datadog in a report on Friday, February 14th. Cantor Fitzgerald reaffirmed an "overweight" rating and set a $134.00 target price on shares of Datadog in a report on Wednesday, May 7th. Finally, Scotiabank set a $130.00 target price on Datadog and gave the company an "outperform" rating in a report on Wednesday, May 7th. Seven investment analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company's stock. According to MarketBeat.com, Datadog presently has a consensus rating of "Moderate Buy" and an average price target of $141.54.

Insider Activity at Datadog

In related news, CEO Olivier Pomel sold 107,365 shares of the company's stock in a transaction that occurred on Monday, April 7th. The stock was sold at an average price of $87.33, for a total transaction of $9,376,185.45. Following the completion of the transaction, the chief executive officer now owns 563,598 shares in the company, valued at $49,219,013.34. This represents a 16.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CTO Alexis Le-Quoc sold 127,105 shares of the company's stock in a transaction on Wednesday, May 7th. The stock was sold at an average price of $105.83, for a total value of $13,451,522.15. Following the completion of the sale, the chief technology officer now directly owns 466,535 shares in the company, valued at approximately $49,373,399.05. The trade was a 21.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 559,867 shares of company stock worth $57,550,902 over the last quarter. 11.78% of the stock is owned by corporate insiders.

Datadog Trading Up 1.2%

DDOG stock traded up $1.38 during midday trading on Wednesday, hitting $118.69. The company had a trading volume of 4,131,194 shares, compared to its average volume of 4,345,777. Datadog, Inc. has a 52 week low of $81.63 and a 52 week high of $170.08. The stock's 50 day moving average price is $100.29 and its 200 day moving average price is $125.70. The stock has a market cap of $40.68 billion, a price-to-earnings ratio of 232.73, a PEG ratio of 44.03 and a beta of 1.12.

Datadog (NASDAQ:DDOG - Get Free Report) last announced its earnings results on Tuesday, May 6th. The company reported $0.46 EPS for the quarter, beating analysts' consensus estimates of $0.42 by $0.04. The company had revenue of $761.55 million during the quarter, compared to the consensus estimate of $741.73 million. Datadog had a return on equity of 8.28% and a net margin of 6.85%. The firm's revenue for the quarter was up 24.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.44 earnings per share. Analysts predict that Datadog, Inc. will post 0.34 earnings per share 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.