Proficio Capital Partners LLC Takes Position in Datadog, Inc. (NASDAQ:DDOG)

Proficio Capital Partners LLC acquired a new stake in Datadog, Inc. (NASDAQ:DDOG) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund acquired 104,167 shares of the company’s stock, valued at approximately $14,884,000.

Other hedge funds also recently modified their holdings of the company. M&T Bank Corp grew its position in Datadog by 2.0% in the 4th quarter. M&T Bank Corp now owns 10,322 shares of the company’s stock valued at $1,475,000 after purchasing an additional 205 shares during the period. Atria Investments Inc grew its position in Datadog by 30.1% in the 4th quarter. Atria Investments Inc now owns 6,246 shares of the company’s stock valued at $892,000 after purchasing an additional 1,444 shares during the period. Assetmark Inc. grew its position in Datadog by 1,528.0% in the 4th quarter. Assetmark Inc. now owns 109,774 shares of the company’s stock valued at $15,686,000 after purchasing an additional 103,031 shares during the period. J.Safra Asset Management Corp grew its position in Datadog by 69.8% in the 4th quarter. J.Safra Asset Management Corp now owns 983 shares of the company’s stock valued at $142,000 after purchasing an additional 404 shares during the period. Finally, Keybank National Association OH grew its position in Datadog by 25.3% in the 4th quarter. Keybank National Association OH now owns 9,756 shares of the company’s stock valued at $1,394,000 after purchasing an additional 1,967 shares during the period. Institutional investors own 78.29% of the company’s stock.

Insider Activity at Datadog

In other news, CTO Alexis Le-Quoc sold 127,105 shares of the company’s 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 sale, the chief technology officer now directly owns 371,865 shares in the company, valued at $37,986,009.75. This represents a 25.47 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Shardul Shah sold 7,916 shares of the company’s 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 sale, the director now owns 435,701 shares in the company, valued at approximately $67,642,580.25. This represents a 1.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 653,554 shares of company stock worth $83,328,905. Company insiders own 11.78% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. Loop Capital lifted their price target on shares of Datadog from $160.00 to $200.00 and gave the company a “buy” rating in a research report on Monday, December 23rd. Mizuho lifted their price target on shares of Datadog from $155.00 to $170.00 and gave the company an “outperform” rating in a research report on Friday, December 13th. Cantor Fitzgerald began coverage on shares of Datadog in a report on Friday, January 17th. They set an “overweight” rating and a $180.00 price objective on the stock. Stifel Nicolaus downgraded shares of Datadog from a “buy” rating to a “hold” rating and cut their price objective for the stock from $165.00 to $140.00 in a report on Wednesday, January 29th. Finally, Citigroup cut their price objective on shares of Datadog from $170.00 to $165.00 and set a “buy” rating on the stock in a report on Friday, February 14th. One analyst has rated the stock with a sell rating, seven have given a hold rating, twenty-one have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, Datadog currently has a consensus rating of “Moderate Buy” and an average target price of $158.70.

Datadog Stock Performance

Shares of Datadog stock opened at $101.80 on Friday. Datadog, Inc. has a 52-week low of $98.30 and a 52-week high of $170.08. The stock’s 50-day simple moving average is $130.81 and its 200 day simple moving average is $131.12. The stock has a market capitalization of $34.89 billion, a P/E ratio of 199.61, a P/E/G ratio of 44.03 and a beta of 1.22.

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%. Equities research analysts forecast 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.