Mount Lucas Management LP Lowers Stake in Datadog, Inc. (NASDAQ:DDOG)

Mount Lucas Management LP cut its position in shares of Datadog, Inc. (NASDAQ:DDOG) by 17.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,511 shares of the company’s stock after selling 319 shares during the quarter. Mount Lucas Management LP’s holdings in Datadog were worth $216,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Allworth Financial LP grew its holdings in shares of Datadog by 7.7% during the fourth quarter. Allworth Financial LP now owns 1,043 shares of the company’s stock worth $146,000 after buying an additional 75 shares in the last quarter. Spire Wealth Management boosted its position in shares of Datadog by 21.4% in the fourth quarter. Spire Wealth Management now owns 453 shares of the company’s stock worth $65,000 after acquiring an additional 80 shares during the last quarter. Avior Wealth Management LLC boosted its position in shares of Datadog by 55.9% in the fourth quarter. Avior Wealth Management LLC now owns 226 shares of the company’s stock worth $32,000 after acquiring an additional 81 shares during the last quarter. Pathstone Holdings LLC boosted its position in shares of Datadog by 0.4% in the third quarter. Pathstone Holdings LLC now owns 23,152 shares of the company’s stock worth $2,664,000 after acquiring an additional 91 shares during the last quarter. Finally, Parkside Financial Bank & Trust boosted its position in shares of Datadog by 16.5% in the fourth quarter. Parkside Financial Bank & Trust now owns 663 shares of the company’s stock worth $95,000 after acquiring an additional 94 shares during the last quarter. 78.29% of the stock is currently owned by hedge funds and other institutional investors.

Datadog Trading Down 7.3 %

NASDAQ DDOG opened at $101.65 on Tuesday. The company’s fifty day simple moving average is $134.20 and its 200-day simple moving average is $131.77. Datadog, Inc. has a 52 week low of $98.80 and a 52 week high of $170.08. The stock has a market cap of $34.84 billion, a P/E ratio of 199.32, a PEG ratio of 44.03 and a beta of 1.22.

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

Insider Buying and Selling

In related news, Director Shardul Shah sold 7,916 shares of Datadog stock in a transaction on Monday, December 16th. The shares were sold at an average price of $155.25, for a total value of $1,228,959.00. Following the completion of the sale, the director now owns 435,701 shares in the company, valued at approximately $67,642,580.25. The trade was a 1.78 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CTO Alexis Le-Quoc sold 127,105 shares of Datadog stock in a transaction on Wednesday, January 8th. The stock was sold at an average price of $141.21, for a total transaction of $17,948,497.05. Following the completion of the sale, the chief technology officer now owns 324,778 shares of the company’s stock, valued at approximately $45,861,901.38. This trade represents a 28.13 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 410,630 shares of company stock worth $57,719,574. Insiders own 11.78% of the company’s stock.

Analyst Upgrades and Downgrades

DDOG has been the topic of several research analyst reports. Needham & Company LLC reissued a “buy” rating and issued a $160.00 target price on shares of Datadog in a research report on Tuesday, March 4th. Macquarie reissued an “outperform” rating and issued a $200.00 target price on shares of Datadog in a research report on Tuesday, February 11th. Royal Bank of Canada raised their target price on shares of Datadog from $151.00 to $170.00 and gave the stock an “outperform” rating in a research report on Friday, January 3rd. Truist Financial decreased their target price on shares of Datadog from $150.00 to $140.00 and set a “hold” rating on the stock in a research report on Friday, February 14th. Finally, Guggenheim reissued a “neutral” rating on shares of Datadog in a research report on Wednesday, January 22nd. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, twenty-one have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, Datadog has a consensus rating of “Moderate Buy” and an average target price of $158.70.

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.