Marshall Wace LLP Sells 259,467 Shares of Datadog, Inc. (NASDAQ:DDOG)

Marshall Wace LLP lowered its stake in Datadog, Inc. (NASDAQ:DDOG - Free Report) by 36.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 459,109 shares of the company's stock after selling 259,467 shares during the quarter. Marshall Wace LLP owned approximately 0.14% of Datadog worth $65,602,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of DDOG. Proficio Capital Partners LLC bought a new stake in shares of Datadog during the 4th quarter worth approximately $14,884,000. ARK Investment Management LLC grew its position in shares of Datadog by 62.7% in the 4th quarter. ARK Investment Management LLC now owns 127,290 shares of the company's stock valued at $18,188,000 after acquiring an additional 49,050 shares during the period. Y Intercept Hong Kong Ltd increased its stake in shares of Datadog by 140.1% during the 4th quarter. Y Intercept Hong Kong Ltd now owns 53,116 shares of the company's stock worth $7,590,000 after purchasing an additional 30,998 shares during the last quarter. Baillie Gifford & Co. increased its stake in shares of Datadog by 15.8% during the 4th quarter. Baillie Gifford & Co. now owns 10,905,133 shares of the company's stock worth $1,558,234,000 after purchasing an additional 1,484,562 shares during the last quarter. Finally, Cullen Frost Bankers Inc. raised its holdings in shares of Datadog by 3.5% in the 4th quarter. Cullen Frost Bankers Inc. now owns 72,489 shares of the company's stock valued at $10,358,000 after purchasing an additional 2,451 shares during the period. 78.29% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Datadog news, CRO Sean Michael Walters sold 8,454 shares of the firm's stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $102.04, for a total transaction of $862,646.16. Following the completion of the transaction, the executive now owns 185,871 shares in the company, valued at approximately $18,966,276.84. This trade represents a 4.35 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Amit Agarwal sold 10,167 shares of the company's stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $115.86, for a total transaction of $1,177,948.62. Following the completion of the sale, the director now directly owns 82,324 shares in the company, valued at approximately $9,538,058.64. This represents a 10.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 548,756 shares of company stock valued at $62,219,250 over the last 90 days. 11.78% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on DDOG. Morgan Stanley lowered their price target on Datadog from $143.00 to $115.00 and set an "equal weight" rating on the stock in a research report on Wednesday, April 16th. Guggenheim restated a "neutral" rating on shares of Datadog in a research note on Wednesday, January 22nd. Loop Capital lifted their price objective on shares of Datadog from $160.00 to $200.00 and gave the stock a "buy" rating in a research report on Monday, December 23rd. Wells Fargo & Company lowered shares of Datadog from an "overweight" rating to an "equal weight" rating and dropped their price objective for the company from $152.00 to $140.00 in a research report on Thursday, February 13th. Finally, Stifel Nicolaus downgraded shares of Datadog from a "buy" rating to a "hold" rating and reduced their target price for the stock from $165.00 to $140.00 in a report on Wednesday, January 29th. Seven investment analysts have rated the stock with a hold rating, twenty-two have given a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $150.33.

Datadog Stock Up 2.0 %

Shares of NASDAQ DDOG traded up $1.77 during midday trading on Tuesday, reaching $90.69. 885,347 shares of the company were exchanged, compared to its average volume of 4,328,605. 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 $31.08 billion, a P/E ratio of 177.96, a PEG ratio of 44.03 and a beta of 1.20. The stock's 50-day moving average price is $105.57 and its 200-day moving average price is $128.11.

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 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.