Sax Wealth Advisors LLC Trims Stock Position in Datadog, Inc. (NASDAQ:DDOG)

Sax Wealth Advisors LLC cut its holdings in Datadog, Inc. (NASDAQ:DDOG) by 10.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,307 shares of the company’s stock after selling 873 shares during the quarter. Sax Wealth Advisors LLC’s holdings in Datadog were worth $1,044,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the business. Los Angeles Capital Management LLC raised its stake in Datadog by 172.2% in the 3rd quarter. Los Angeles Capital Management LLC now owns 38,841 shares of the company’s stock valued at $4,469,000 after purchasing an additional 24,574 shares during the last quarter. Heritage Investors Management Corp purchased a new stake in shares of Datadog during the third quarter worth about $1,157,000. Atom Investors LP acquired a new position in shares of Datadog in the third quarter valued at approximately $1,112,000. Parnassus Investments LLC lifted its stake in shares of Datadog by 28.4% during the third quarter. Parnassus Investments LLC now owns 185,329 shares of the company’s stock valued at $21,324,000 after buying an additional 40,952 shares during the period. Finally, Jennison Associates LLC boosted its position in Datadog by 2.1% during the third quarter. Jennison Associates LLC now owns 6,273,348 shares of the company’s stock worth $721,811,000 after acquiring an additional 126,613 shares during the last quarter. 78.29% of the stock is owned by hedge funds and other institutional investors.

Datadog Trading Up 1.2 %

Shares of DDOG stock opened at $138.40 on Friday. The firm has a fifty day simple moving average of $145.75 and a 200-day simple moving average of $128.57. The company has a market capitalization of $47.02 billion, a PE ratio of 261.14, a price-to-earnings-growth ratio of 16.31 and a beta of 1.14. Datadog, Inc. has a twelve month low of $98.80 and a twelve month high of $170.08.

Analysts Set New Price Targets

Several research analysts have weighed in on DDOG shares. Sanford C. Bernstein cut their price target on Datadog from $157.00 to $151.00 and set an “outperform” rating for the company in a report on Monday, October 21st. BNP Paribas initiated coverage on Datadog in a research note on Tuesday, October 8th. They issued an “outperform” rating and a $150.00 target price for the company. TD Cowen reiterated a “buy” rating and set a $165.00 target price on shares of Datadog in a research report on Tuesday, November 19th. Mizuho lifted their price target on Datadog from $155.00 to $170.00 and gave the company an “outperform” rating in a report on Friday, December 13th. Finally, Citigroup increased their price objective on shares of Datadog from $157.00 to $170.00 and gave the stock a “buy” rating in a report on Friday. One analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-six have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Datadog presently has a consensus rating of “Moderate Buy” and a consensus target price of $158.45.

Insiders Place Their Bets

In other Datadog news, General Counsel Kerry Acocella sold 2,488 shares of the firm’s stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $158.04, for a total transaction of $393,203.52. Following the completion of the sale, the general counsel now owns 68,758 shares in the company, valued at $10,866,514.32. This trade represents a 3.49 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Olivier Pomel sold 178,723 shares of the company’s stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $161.28, for a total value of $28,824,445.44. Following the completion of the transaction, the chief executive officer now directly owns 379,693 shares in the company, valued at approximately $61,236,887.04. The trade was a 32.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 617,679 shares of company stock worth $88,668,671 in the last quarter. 11.78% of the stock is owned by corporate insiders.

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.