First Citizens Bank & Trust Co. Decreases Holdings in Datadog, Inc. (NASDAQ:DDOG)

First Citizens Bank & Trust Co. cut its holdings in shares of Datadog, Inc. (NASDAQ:DDOG) by 51.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 40,356 shares of the company’s stock after selling 43,354 shares during the quarter. First Citizens Bank & Trust Co.’s holdings in Datadog were worth $5,766,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in DDOG. Dimensional Fund Advisors LP grew its stake in shares of Datadog by 10.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 306,402 shares of the company’s stock worth $39,735,000 after acquiring an additional 29,890 shares during the period. Toronto Dominion Bank boosted its stake in Datadog by 1.3% in the 2nd quarter. Toronto Dominion Bank now owns 29,499 shares of the company’s stock worth $3,826,000 after purchasing an additional 381 shares during the period. APG Asset Management N.V. boosted its stake in Datadog by 9.8% in the 2nd quarter. APG Asset Management N.V. now owns 197,943 shares of the company’s stock worth $23,953,000 after purchasing an additional 17,588 shares during the period. Dark Forest Capital Management LP bought a new position in Datadog in the 2nd quarter worth about $367,000. Finally, MBB Public Markets I LLC bought a new position in Datadog in the 2nd quarter worth about $2,469,000. Institutional investors own 78.29% of the company’s stock.

Analyst Upgrades and Downgrades

DDOG has been the subject of several analyst reports. Citigroup raised their target price on Datadog from $157.00 to $170.00 and gave the stock a “buy” rating in a research note on Friday, January 17th. BMO Capital Markets raised their target price on Datadog from $135.00 to $145.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. Truist Financial downgraded Datadog from a “buy” rating to a “hold” rating and cut their target price for the stock from $170.00 to $150.00 in a research note on Tuesday, January 7th. DA Davidson raised their price target on Datadog from $140.00 to $150.00 and gave the company a “buy” rating in a report on Friday, November 8th. Finally, BNP Paribas initiated coverage on Datadog in a report on Tuesday, October 8th. They issued an “outperform” rating and a $150.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, twenty-six have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $158.45.

Datadog Trading Up 0.6 %

Datadog stock opened at $140.99 on Friday. The business’s fifty day simple moving average is $147.36 and its two-hundred day simple moving average is $128.88. Datadog, Inc. has a 12 month low of $98.80 and a 12 month high of $170.08. The company has a market capitalization of $47.90 billion, a price-to-earnings ratio of 266.02, a price-to-earnings-growth ratio of 16.28 and a beta of 1.14.

Insiders Place Their Bets

In other news, Director Amit Agarwal sold 25,000 shares of the business’s stock in a transaction on Wednesday, January 22nd. The stock was sold at an average price of $139.47, for a total value of $3,486,750.00. Following the completion of the transaction, the director now owns 195,667 shares in the company, valued at $27,289,676.49. The trade was a 11.33 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Matthew Jacobson sold 3,393 shares of the business’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $125.03, for a total value of $424,226.79. Following the completion of the transaction, the director now owns 695,086 shares of the company’s stock, valued at $86,906,602.58. This represents a 0.49 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 642,679 shares of company stock valued at $92,155,421. 11.78% of the stock is currently 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.