Sigma Planning Corp Reduces Position in Datadog, Inc. (NASDAQ:DDOG)

Sigma Planning Corp lessened its position in shares of Datadog, Inc. (NASDAQ:DDOG) by 62.9% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,092 shares of the company’s stock after selling 3,553 shares during the quarter. Sigma Planning Corp’s holdings in Datadog were worth $299,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the company. Blue Trust Inc. boosted its stake in shares of Datadog by 80.3% in the third quarter. Blue Trust Inc. now owns 539 shares of the company’s stock worth $62,000 after buying an additional 240 shares during the last quarter. International Assets Investment Management LLC purchased a new position in Datadog during the third quarter valued at $4,038,000. Wealth Enhancement Advisory Services LLC lifted its stake in Datadog by 8.2% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 11,746 shares of the company’s stock valued at $1,352,000 after buying an additional 886 shares in the last quarter. Pallas Capital Advisors LLC purchased a new position in shares of Datadog in the third quarter valued at approximately $278,000. Finally, abrdn plc lifted its holdings in Datadog by 103.9% in the 3rd quarter. abrdn plc now owns 61,384 shares of the company’s stock valued at $7,063,000 after purchasing an additional 31,276 shares in the last quarter. Hedge funds and other institutional investors own 78.29% of the company’s stock.

Datadog Trading Up 2.7 %

Shares of NASDAQ DDOG opened at $116.57 on Friday. The stock has a market cap of $39.60 billion, a P/E ratio of 228.57, a PEG ratio of 44.03 and a beta of 1.15. Datadog, Inc. has a 12-month low of $98.80 and a 12-month high of $170.08. The business’s fifty day simple moving average is $138.51 and its 200-day simple moving average is $131.74.

Datadog (NASDAQ:DDOG) last posted 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 net margin of 6.85% and a return on equity of 8.28%. On average, equities analysts forecast that Datadog, Inc. will post 0.34 EPS for the current fiscal year.

Insider Activity at Datadog

In other news, CEO Olivier Pomel sold 178,723 shares of the firm’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $161.28, for a total transaction of $28,824,445.44. Following the sale, the chief executive officer now owns 379,693 shares of the company’s stock, valued at approximately $61,236,887.04. This trade represents a 32.01 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, General Counsel Kerry Acocella sold 2,488 shares of the firm’s stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $158.04, for a total value of $393,203.52. Following the sale, the general counsel now directly owns 68,758 shares in the company, valued at $10,866,514.32. This trade represents a 3.49 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 556,674 shares of company stock valued at $82,904,025 over the last 90 days. 11.78% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

DDOG has been the topic of a number of research reports. Monness Crespi & Hardt raised shares of Datadog from a “neutral” rating to a “buy” rating and set a $155.00 target price on the stock in a research note on Thursday, November 7th. Rosenblatt Securities lifted their price objective on Datadog from $148.00 to $160.00 and gave the stock a “buy” rating in a research report on Wednesday, February 12th. Stifel Nicolaus lowered Datadog from a “buy” rating to a “hold” rating and reduced their price target for the stock from $165.00 to $140.00 in a report on Wednesday, January 29th. Loop Capital lifted their price target on Datadog from $160.00 to $200.00 and gave the stock a “buy” rating in a report on Monday, December 23rd. 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 given a hold rating, twenty-one have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $158.70.

Datadog 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.