American International Group Inc. lessened its stake in Datadog, Inc. (NASDAQ:DDOG – Get Rating) by 10.2% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 19,761 shares of the company’s stock after selling 2,251 shares during the period. American International Group Inc.’s holdings in Datadog were worth $1,452,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in DDOG. CI Investments Inc. boosted its holdings in Datadog by 1,003.2% in the third quarter. CI Investments Inc. now owns 342 shares of the company’s stock valued at $30,000 after purchasing an additional 311 shares in the last quarter. Guardian Wealth Advisors LLC purchased a new stake in shares of Datadog in the 3rd quarter worth about $35,000. Sonnipe Ltd purchased a new stake in Datadog in the 4th quarter valued at approximately $39,000. EverSource Wealth Advisors LLC grew its holdings in shares of Datadog by 329.0% during the fourth quarter. EverSource Wealth Advisors LLC now owns 725 shares of the company’s stock worth $53,000 after buying an additional 556 shares in the last quarter. Finally, CENTRAL TRUST Co grew its position in shares of Datadog by 1,036.4% in the third quarter. CENTRAL TRUST Co now owns 625 shares of the company’s stock valued at $55,000 after purchasing an additional 570 shares during the period. Hedge funds and other institutional investors own 70.93% of the company’s stock.
Insider Transactions at Datadog
In related news, General Counsel Kerry Acocella sold 1,070 shares of Datadog stock in a transaction dated Friday, June 2nd. The stock was sold at an average price of $100.33, for a total value of $107,353.10. Following the sale, the general counsel now owns 72,675 shares of the company’s stock, valued at $7,291,482.75. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, General Counsel Kerry Acocella sold 1,070 shares of the company’s stock in a transaction that occurred on Friday, June 2nd. The stock was sold at an average price of $100.33, for a total value of $107,353.10. Following the transaction, the general counsel now owns 72,675 shares of the company’s stock, valued at $7,291,482.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Olivier Pomel sold 18,652 shares of the firm’s stock in a transaction dated Friday, June 2nd. The shares were sold at an average price of $100.33, for a total transaction of $1,871,355.16. Following the completion of the transaction, the chief executive officer now directly owns 336,486 shares in the company, valued at $33,759,640.38. The disclosure for this sale can be found here. Insiders have sold a total of 695,545 shares of company stock valued at $55,761,526 over the last 90 days. 14.97% of the stock is owned by corporate insiders.
Datadog Trading Down 8.1 %
Datadog (NASDAQ:DDOG – Get Rating) last issued its quarterly earnings data on Thursday, May 4th. The company reported ($0.07) EPS for the quarter, missing analysts’ consensus estimates of ($0.02) by ($0.05). The company had revenue of $481.71 million for the quarter, compared to analyst estimates of $468.29 million. Datadog had a negative return on equity of 4.86% and a negative net margin of 4.68%. Sell-side analysts anticipate that Datadog, Inc. will post -0.15 earnings per share for the current fiscal year.
Wall Street Analysts Forecast Growth
Several research firms recently weighed in on DDOG. Jefferies Financial Group lifted their target price on shares of Datadog from $85.00 to $90.00 in a report on Thursday, May 4th. Piper Sandler initiated coverage on shares of Datadog in a research note on Tuesday, April 18th. They issued a “neutral” rating and a $72.00 price target for the company. TheStreet upgraded Datadog from a “d” rating to a “c-” rating in a research note on Tuesday, May 30th. DA Davidson started coverage on Datadog in a research note on Wednesday, April 5th. They set a “neutral” rating and a $70.00 price objective on the stock. Finally, Bank of America lowered their price target on Datadog from $120.00 to $110.00 in a report on Tuesday, February 21st. Seven equities research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $103.00.
Datadog Profile
Datadog, Inc provides monitoring and analytics platform for developers, information technology operations teams, and business users in the cloud in North America and internationally. The company's SaaS platform integrates and automates infrastructure monitoring, application performance monitoring, log management, and security monitoring to provide real-time observability of its customers technology stack.
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