Pictet Asset Management Holding SA Sells 9,534 Shares of Datadog, Inc. (NASDAQ:DDOG)

Pictet Asset Management Holding SA trimmed its position in shares of Datadog, Inc. (NASDAQ:DDOG) by 1.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 763,724 shares of the company’s stock after selling 9,534 shares during the period. Pictet Asset Management Holding SA owned approximately 0.22% of Datadog worth $109,129,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in DDOG. Allworth Financial LP grew its holdings in shares of Datadog by 7.7% during the 4th quarter. Allworth Financial LP now owns 1,043 shares of the company’s stock worth $146,000 after purchasing an additional 75 shares in the last quarter. Spire Wealth Management boosted its stake in Datadog by 21.4% during the fourth quarter. Spire Wealth Management now owns 453 shares of the company’s stock worth $65,000 after buying an additional 80 shares in the last quarter. Avior Wealth Management LLC boosted its stake in Datadog by 55.9% during the fourth quarter. Avior Wealth Management LLC now owns 226 shares of the company’s stock worth $32,000 after buying an additional 81 shares in the last quarter. Farther Finance Advisors LLC increased its holdings in Datadog by 5.2% in the 4th quarter. Farther Finance Advisors LLC now owns 1,853 shares of the company’s stock valued at $265,000 after buying an additional 92 shares during the period. Finally, Parkside Financial Bank & Trust raised its stake in shares of Datadog by 16.5% in the 4th quarter. Parkside Financial Bank & Trust now owns 663 shares of the company’s stock valued at $95,000 after buying an additional 94 shares in the last quarter. Institutional investors and hedge funds own 78.29% of the company’s stock.

Insiders Place Their Bets

In other Datadog news, CTO Alexis Le-Quoc sold 127,105 shares of Datadog stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $102.15, for a total transaction of $12,983,775.75. Following the transaction, the chief technology officer now directly owns 371,865 shares in the company, valued at approximately $37,986,009.75. The trade was a 25.47 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CRO Sean Michael Walters sold 8,454 shares of the stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $102.04, for a total value of $862,646.16. Following the completion of the sale, the executive now owns 185,871 shares of the company’s stock, valued at $18,966,276.84. This trade represents a 4.35 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 601,412 shares of company stock worth $75,444,584. Insiders own 11.78% of the company’s stock.

Datadog Price Performance

Shares of NASDAQ DDOG opened at $101.10 on Friday. Datadog, Inc. has a fifty-two week low of $98.30 and a fifty-two week high of $170.08. The firm has a market capitalization of $34.65 billion, a P/E ratio of 198.24, a P/E/G ratio of 44.03 and a beta of 1.22. The company’s 50 day simple moving average is $123.79 and its 200 day simple moving average is $130.65.

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

Analyst Ratings Changes

A number of research firms recently weighed in on DDOG. Guggenheim reissued a “neutral” rating on shares of Datadog in a research note on Wednesday, January 22nd. Needham & Company LLC reiterated a “buy” rating and issued a $160.00 price objective on shares of Datadog in a research note on Tuesday, March 4th. Truist Financial cut their target price on Datadog from $150.00 to $140.00 and set a “hold” rating for the company in a research report on Friday, February 14th. Citigroup dropped their price objective on Datadog from $170.00 to $165.00 and set a “buy” rating for the company in a research note on Friday, February 14th. Finally, Jefferies Financial Group boosted their target price on shares of Datadog from $155.00 to $170.00 and gave the company a “buy” rating in a research note on Monday, January 6th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, twenty-one have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, Datadog has an average rating of “Moderate Buy” and an average price target 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.