Prudential Financial Inc. Decreases Position in Datadog, Inc. (NASDAQ:DDOG)

Prudential Financial Inc. trimmed its holdings in Datadog, Inc. (NASDAQ:DDOG) by 23.9% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 102,400 shares of the company’s stock after selling 32,085 shares during the quarter. Prudential Financial Inc.’s holdings in Datadog were worth $14,632,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in DDOG. Proficio Capital Partners LLC acquired a new position in shares of Datadog in the 4th quarter valued at $14,884,000. ARK Investment Management LLC grew its holdings in shares of Datadog by 62.7% during the fourth quarter. ARK Investment Management LLC now owns 127,290 shares of the company’s stock worth $18,188,000 after purchasing an additional 49,050 shares during the last quarter. Y Intercept Hong Kong Ltd increased its position in shares of Datadog by 140.1% during the fourth 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 in the last quarter. Baillie Gifford & Co. increased its position in shares of Datadog by 15.8% during the fourth 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 in the last quarter. Finally, Atom Investors LP acquired a new stake in shares of Datadog in the 3rd quarter valued at about $1,112,000. 78.29% of the stock is currently owned by hedge funds and other institutional investors.

Datadog Price Performance

NASDAQ DDOG opened at $104.85 on Friday. The business has a 50 day moving average price of $124.54 and a 200 day moving average price of $130.69. The company has a market capitalization of $35.94 billion, a P/E ratio of 205.59, a PEG ratio of 44.03 and a beta of 1.22. Datadog, Inc. has a 1-year low of $98.30 and a 1-year high of $170.08.

Datadog (NASDAQ:DDOG) last announced its quarterly earnings results on Thursday, February 13th. The company reported $0.13 earnings per share for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.31). Datadog had a net margin of 6.85% and a return on equity of 8.28%. On average, research analysts expect that Datadog, Inc. will post 0.34 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on DDOG shares. Barclays reduced their price objective on Datadog from $187.00 to $180.00 and set an “overweight” rating for the company in a research note on Friday, February 14th. Wells Fargo & Company downgraded shares of Datadog from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $152.00 to $140.00 in a research report on Thursday, February 13th. Jefferies Financial Group raised their price objective on shares of Datadog from $155.00 to $170.00 and gave the stock a “buy” rating in a research report on Monday, January 6th. Cantor Fitzgerald began coverage on shares of Datadog in a research note on Friday, January 17th. They issued an “overweight” rating and a $180.00 price objective on the stock. Finally, Wolfe Research downgraded shares of Datadog from an “outperform” rating to a “peer perform” rating in a research note on Tuesday, February 18th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, twenty-one have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Datadog currently has a consensus rating of “Moderate Buy” and an average target price of $158.70.

Insider Buying and Selling at Datadog

In related news, CEO Olivier Pomel sold 11,195 shares of the company’s stock in a transaction that occurred on Monday, January 27th. The stock was sold at an average price of $139.86, for a total value of $1,565,732.70. Following the sale, the chief executive officer now owns 379,693 shares of the company’s stock, valued at approximately $53,103,862.98. This represents a 2.86 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CTO Alexis Le-Quoc sold 127,105 shares of the firm’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $142.78, for a total value of $18,148,051.90. Following the transaction, the chief technology officer now directly owns 324,778 shares of the company’s stock, valued at $46,371,802.84. The trade was a 28.13 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 601,412 shares of company stock worth $75,444,584. 11.78% of the stock is owned by corporate insiders.

About Datadog

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.