Voya Investment Management LLC Cuts Stake in Datadog, Inc. (NASDAQ:DDOG)

Voya Investment Management LLC decreased its stake in shares of Datadog, Inc. (NASDAQ:DDOG - Free Report) by 85.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,460,228 shares of the company's stock after selling 26,796,958 shares during the period. Datadog makes up about 0.7% of Voya Investment Management LLC's investment portfolio, making the stock its 20th largest holding. Voya Investment Management LLC owned about 1.31% of Datadog worth $637,268,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Allworth Financial LP increased its stake in shares of Datadog by 7.7% in the fourth quarter. Allworth Financial LP now owns 1,043 shares of the company's stock valued at $146,000 after buying an additional 75 shares during the period. Spire Wealth Management boosted its holdings in shares of Datadog by 21.4% during the 4th quarter. Spire Wealth Management now owns 453 shares of the company's stock worth $65,000 after buying an additional 80 shares in the last quarter. Avior Wealth Management LLC increased its stake in Datadog by 55.9% in the fourth quarter. Avior Wealth Management LLC now owns 226 shares of the company's stock valued at $32,000 after purchasing an additional 81 shares in the last quarter. Farther Finance Advisors LLC raised its stake in Datadog by 5.2% during the 4th quarter. Farther Finance Advisors LLC now owns 1,853 shares of the company's stock worth $265,000 after buying an additional 92 shares during the period. Finally, Parkside Financial Bank & Trust raised its position in shares of Datadog by 16.5% during the fourth quarter. Parkside Financial Bank & Trust now owns 663 shares of the company's stock worth $95,000 after purchasing an additional 94 shares during the period. 78.29% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

DDOG has been the subject of a number of recent research reports. Truist Financial decreased their price target on shares of Datadog from $140.00 to $120.00 and set a "hold" rating for the company in a research note on Monday, March 31st. Wolfe Research cut shares of Datadog from an "outperform" rating to a "peer perform" rating in a research report on Tuesday, February 18th. UBS Group cut their price target on Datadog from $164.00 to $120.00 and set a "buy" rating for the company in a research note on Tuesday, April 15th. Jefferies Financial Group reissued a "buy" rating and issued a $135.00 price objective (down from $150.00) on shares of Datadog in a research note on Monday, April 7th. Finally, Stifel Nicolaus cut Datadog from a "buy" rating to a "hold" rating and cut their target price for the company from $165.00 to $140.00 in a research report on Wednesday, January 29th. Seven research analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Datadog has a consensus rating of "Moderate Buy" and a consensus price target of $150.33.

Datadog Trading Down 0.8 %

Shares of Datadog stock traded down $0.82 on Monday, reaching $100.70. The stock had a trading volume of 1,091,452 shares, compared to its average volume of 4,341,690. The business's 50 day moving average is $102.74 and its two-hundred day moving average is $127.32. Datadog, Inc. has a 1 year low of $81.63 and a 1 year high of $170.08. The company has a market cap of $34.52 billion, a P/E ratio of 197.18, a price-to-earnings-growth ratio of 44.03 and a beta of 1.20.

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

Insider Buying and Selling

In other news, Director Amit Agarwal sold 10,167 shares of the stock in a transaction 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 transaction, the director now owns 82,324 shares of the company's stock, valued at $9,538,058.64. This represents a 10.99 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CRO Sean Michael Walters sold 8,454 shares of Datadog stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $102.04, for a total transaction of $862,646.16. Following the sale, the executive now directly owns 185,871 shares of the company's stock, valued at $18,966,276.84. This represents a 4.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 512,561 shares of company stock worth $57,166,767. 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.