Corebridge Financial Inc. Sells 202 Shares of Datadog, Inc. (NASDAQ:DDOG)

Corebridge Financial Inc. lessened its position in Datadog, Inc. (NASDAQ:DDOG) by 0.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 25,880 shares of the company’s stock after selling 202 shares during the quarter. Corebridge Financial Inc.’s holdings in Datadog were worth $3,698,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in DDOG. Proficio Capital Partners LLC bought a new position in shares of Datadog during the 4th quarter valued at about $14,884,000. ARK Investment Management LLC increased its stake in shares of Datadog by 62.7% in the fourth quarter. ARK Investment Management LLC now owns 127,290 shares of the company’s stock worth $18,188,000 after buying an additional 49,050 shares during the period. Y Intercept Hong Kong Ltd boosted its holdings 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 during the period. Baillie Gifford & Co. grew its position in shares of Datadog by 15.8% in the 4th quarter. Baillie Gifford & Co. now owns 10,905,133 shares of the company’s stock worth $1,558,234,000 after buying an additional 1,484,562 shares during the last quarter. Finally, Atom Investors LP bought a new stake in Datadog in the third quarter valued at $1,112,000. Hedge funds and other institutional investors own 78.29% of the company’s stock.

Datadog Trading Down 3.6 %

Shares of NASDAQ DDOG opened at $101.10 on Monday. Datadog, Inc. has a 12-month low of $98.30 and a 12-month high of $170.08. The firm has a market capitalization of $34.65 billion, a price-to-earnings ratio of 198.24, a price-to-earnings-growth ratio of 44.03 and a beta of 1.22. The firm has a 50 day moving average of $123.79 and a 200 day moving average of $130.95.

Datadog (NASDAQ:DDOG) last issued its quarterly earnings data 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%. Sell-side analysts predict that Datadog, Inc. will post 0.34 EPS for the current year.

Insiders Place Their Bets

In other Datadog news, CTO Alexis Le-Quoc sold 127,105 shares of the company’s stock in a transaction that occurred on Wednesday, January 8th. The shares were sold at an average price of $141.21, for a total value of $17,948,497.05. Following the completion of the transaction, the chief technology officer now directly owns 324,778 shares in the company, valued at $45,861,901.38. This represents a 28.13 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Shardul Shah sold 7,916 shares of the firm’s stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $142.12, for a total transaction of $1,125,021.92. Following the sale, the director now owns 427,785 shares in the company, valued at $60,796,804.20. The trade was a 1.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 601,412 shares of company stock worth $75,444,584 over the last quarter. 11.78% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research firms have issued reports on DDOG. Wolfe Research downgraded Datadog from an “outperform” rating to a “peer perform” rating in a report on Tuesday, February 18th. Truist Financial lowered their target price on shares of Datadog from $150.00 to $140.00 and set a “hold” rating for the company in a report on Friday, February 14th. Guggenheim restated a “neutral” rating on shares of Datadog in a research note on Wednesday, January 22nd. JMP Securities reiterated a “market perform” rating on shares of Datadog in a research note on Friday, February 14th. Finally, Cantor Fitzgerald assumed coverage on Datadog in a research note on Friday, January 17th. They issued an “overweight” rating and a $180.00 target price on the stock. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, twenty-one have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, Datadog currently has an average 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.