Handelsbanken Fonder AB Sells 5,671 Shares of Datadog, Inc. (NASDAQ:DDOG)

Handelsbanken Fonder AB reduced its position in shares of Datadog, Inc. (NASDAQ:DDOG) by 6.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 81,426 shares of the company’s stock after selling 5,671 shares during the period. Handelsbanken Fonder AB’s holdings in Datadog were worth $11,635,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the company. True Wealth Design LLC boosted its stake in Datadog by 12,000.0% in the third quarter. True Wealth Design LLC now owns 242 shares of the company’s stock valued at $28,000 after acquiring an additional 240 shares during the last quarter. Retirement Wealth Solutions LLC purchased a new position in Datadog in the fourth quarter valued at about $30,000. Avior Wealth Management LLC boosted its stake in Datadog by 55.9% in the fourth quarter. Avior Wealth Management LLC now owns 226 shares of the company’s stock valued at $32,000 after acquiring an additional 81 shares during the last quarter. Meeder Asset Management Inc. boosted its stake in Datadog by 66.5% in the third quarter. Meeder Asset Management Inc. now owns 288 shares of the company’s stock valued at $33,000 after acquiring an additional 115 shares during the last quarter. Finally, Quarry LP purchased a new position in Datadog in the third quarter valued at about $33,000. 78.29% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on DDOG. Monness Crespi & Hardt upgraded 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. JMP Securities reiterated a “market perform” rating on shares of Datadog in a research note on Friday, February 14th. Guggenheim reiterated a “neutral” rating on shares of Datadog in a research note on Wednesday, January 22nd. Royal Bank of Canada upped their price target on shares of Datadog from $151.00 to $170.00 and gave the company an “outperform” rating in a research note on Friday, January 3rd. Finally, Morgan Stanley restated an “equal weight” rating and set a $143.00 price target on shares of Datadog in a research note on Thursday, January 16th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, twenty-two have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Datadog presently has an average rating of “Moderate Buy” and an average target price of $158.39.

Datadog Price Performance

Shares of NASDAQ:DDOG opened at $119.67 on Friday. The company’s fifty day moving average price is $142.18 and its 200-day moving average price is $131.76. The firm has a market capitalization of $40.66 billion, a price-to-earnings ratio of 234.66, a PEG ratio of 44.03 and a beta of 1.15. 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 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%. As a group, equities research analysts expect that Datadog, Inc. will post 0.34 EPS for the current year.

Insider Activity

In other news, General Counsel Kerry Acocella sold 2,488 shares of the company’s stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $158.04, for a total value of $393,203.52. Following the completion of the sale, the general counsel now owns 68,758 shares of the company’s stock, valued at approximately $10,866,514.32. This represents a 3.49 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Shardul Shah sold 7,916 shares of the company’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $155.25, for a total transaction of $1,228,959.00. Following the completion of the sale, the director now directly owns 435,701 shares of the company’s stock, valued at $67,642,580.25. This trade represents a 1.78 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 556,674 shares of company stock valued at $82,904,025. Corporate insiders own 11.78% of the company’s stock.

Datadog Company 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.