Hancock Whitney Corp Lowers Stake in Datadog, Inc. (NASDAQ:DDOG)

Hancock Whitney Corp lowered its position in shares of Datadog, Inc. (NASDAQ:DDOG) by 95.2% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,596 shares of the company’s stock after selling 51,053 shares during the quarter. Hancock Whitney Corp’s holdings in Datadog were worth $299,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Jennison Associates LLC increased its stake in Datadog by 2.1% in the third quarter. Jennison Associates LLC now owns 6,273,348 shares of the company’s stock valued at $721,811,000 after purchasing an additional 126,613 shares during the last quarter. Massachusetts Financial Services Co. MA increased its position in Datadog by 9.2% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 3,944,943 shares of the company’s stock worth $511,620,000 after purchasing an additional 331,808 shares in the last quarter. 1832 Asset Management L.P. raised its stake in shares of Datadog by 5.9% in the 2nd quarter. 1832 Asset Management L.P. now owns 2,486,600 shares of the company’s stock valued at $322,487,000 after acquiring an additional 138,700 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of Datadog by 2.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,176,577 shares of the company’s stock valued at $135,377,000 after acquiring an additional 29,404 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its position in Datadog by 19.3% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 1,068,070 shares of the company’s stock worth $138,518,000 after purchasing an additional 172,887 shares during the period. 78.29% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on DDOG. Barclays boosted their price objective on Datadog from $140.00 to $155.00 and gave the stock an “overweight” rating in a research note on Friday, November 8th. Needham & Company LLC decreased their price target on Datadog from $165.00 to $140.00 and set a “buy” rating for the company in a report on Friday, August 9th. Wedbush raised shares of Datadog from a “buy” rating to a “strong-buy” rating in a research report on Thursday, October 17th. Sanford C. Bernstein reduced their target price on shares of Datadog from $157.00 to $151.00 and set an “outperform” rating on the stock in a research report on Monday, October 21st. Finally, BNP Paribas began coverage on shares of Datadog in a report on Tuesday, October 8th. They set an “outperform” rating and a $150.00 price target for the company. One research analyst has rated the stock with a sell rating, one has issued a hold rating, twenty-five have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $150.96.

Insider Buying and Selling

In related news, CTO Alexis Le-Quoc sold 127,105 shares of Datadog stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $129.33, for a total value of $16,438,489.65. Following the sale, the chief technology officer now directly owns 336,165 shares in the company, valued at $43,476,219.45. This trade represents a 27.44 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, President Amit Agarwal sold 150,000 shares of the company’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $126.03, for a total transaction of $18,904,500.00. Following the completion of the transaction, the president now owns 214,275 shares of the company’s stock, valued at approximately $27,005,078.25. This trade represents a 41.18 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 541,491 shares of company stock valued at $68,927,496. Insiders own 11.78% of the company’s stock.

Datadog Stock Down 1.6 %

Shares of DDOG stock opened at $151.96 on Thursday. The company has a market cap of $51.62 billion, a P/E ratio of 286.72, a PEG ratio of 20.50 and a beta of 1.10. The business has a 50 day moving average of $126.74 and a two-hundred day moving average of $120.81. Datadog, Inc. has a 52 week low of $98.80 and a 52 week high of $157.48.

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.