Cabot Wealth Management Inc. Sells 90 Shares of Datadog, Inc. (NASDAQ:DDOG)

Cabot Wealth Management Inc. lessened its position in shares of Datadog, Inc. (NASDAQ:DDOG) by 0.5% during the 4th quarter, HoldingsChannel reports. The fund owned 16,893 shares of the company’s stock after selling 90 shares during the quarter. Cabot Wealth Management Inc.’s holdings in Datadog were worth $2,414,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Los Angeles Capital Management LLC grew its holdings in Datadog by 172.2% during the 3rd quarter. Los Angeles Capital Management LLC now owns 38,841 shares of the company’s stock worth $4,469,000 after acquiring an additional 24,574 shares during the period. Heritage Investors Management Corp acquired a new stake in shares of Datadog during the third quarter worth $1,157,000. Baillie Gifford & Co. increased its holdings in Datadog by 15.8% in the fourth quarter. Baillie Gifford & Co. now owns 10,905,133 shares of the company’s stock valued at $1,558,234,000 after purchasing an additional 1,484,562 shares during the last quarter. Atom Investors LP bought a new position in Datadog during the third quarter worth about $1,112,000. Finally, Parnassus Investments LLC grew its position in shares of Datadog by 28.4% during the 3rd quarter. Parnassus Investments LLC now owns 185,329 shares of the company’s stock worth $21,324,000 after buying an additional 40,952 shares during the period. Institutional investors own 78.29% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Rosenblatt Securities increased their price target on shares of Datadog from $148.00 to $160.00 and gave the company a “buy” rating in a research report on Wednesday, February 12th. Robert W. Baird boosted their price target on shares of Datadog from $140.00 to $150.00 and gave the company an “outperform” rating in a report on Friday, November 8th. Wells Fargo & Company downgraded Datadog from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $152.00 to $140.00 in a research note on Thursday, February 13th. Scotiabank reduced their target price on Datadog from $135.00 to $133.00 and set a “sector outperform” rating on the stock in a report on Friday, November 8th. Finally, Guggenheim restated a “neutral” rating on shares of Datadog in a report on Wednesday, January 22nd. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, twenty-two have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $158.39.

Insider Activity at Datadog

In other Datadog news, Director Shardul Shah sold 7,916 shares of the stock in a transaction dated 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 transaction, the director now directly owns 435,701 shares of the company’s stock, valued at $67,642,580.25. This represents a 1.78 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, President Amit Agarwal sold 25,000 shares of the business’s stock in a transaction that occurred on Thursday, December 26th. The stock was sold at an average price of $147.99, for a total value of $3,699,750.00. Following the sale, the president now owns 195,667 shares of the company’s stock, valued at approximately $28,956,759.33. This represents a 11.33 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 556,674 shares of company stock worth $82,904,025. Company insiders own 11.78% of the company’s stock.

Datadog Price Performance

Shares of DDOG stock opened at $119.67 on Friday. The stock has a market cap of $40.66 billion, a P/E ratio of 234.66, a P/E/G ratio of 44.03 and a beta of 1.15. The company has a fifty day moving average price of $142.18 and a two-hundred day moving average price of $131.76. Datadog, Inc. has a one year low of $98.80 and a one 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 return on equity of 8.28% and a net margin of 6.85%. As a group, equities research analysts anticipate that Datadog, Inc. will post 0.34 EPS for the current fiscal year.

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.