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

First Citizens Bank & Trust Co. lessened its position in shares of Datadog, Inc. (NASDAQ:DDOG) by 51.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the 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.

A number of other hedge funds also recently bought and sold shares of the company. Avior Wealth Management LLC grew its holdings in Datadog by 55.9% during the fourth quarter. Avior Wealth Management LLC now owns 226 shares of the company’s stock valued at $32,000 after purchasing an additional 81 shares during the period. Pathstone Holdings LLC grew its holdings in Datadog by 0.4% during the third quarter. Pathstone Holdings LLC now owns 23,152 shares of the company’s stock valued at $2,664,000 after purchasing an additional 91 shares during the period. GAMMA Investing LLC grew its holdings in Datadog by 19.5% during the third quarter. GAMMA Investing LLC now owns 563 shares of the company’s stock valued at $65,000 after purchasing an additional 92 shares during the period. Meeder Asset Management Inc. grew its holdings in Datadog by 66.5% during the third quarter. Meeder Asset Management Inc. now owns 288 shares of the company’s stock valued at $33,000 after purchasing an additional 115 shares during the period. Finally, Hudock Inc. boosted its stake in shares of Datadog by 3.3% in the third quarter. Hudock Inc. now owns 3,596 shares of the company’s stock worth $414,000 after acquiring an additional 116 shares during the period. Hedge funds and other institutional investors own 78.29% of the company’s stock.

Wall Street Analyst Weigh In

DDOG has been the subject of a number of recent analyst reports. BMO Capital Markets upped their price objective on Datadog from $135.00 to $145.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. BNP Paribas began coverage on Datadog in a research note on Tuesday, October 8th. They issued an “outperform” rating and a $150.00 price objective for the company. Truist Financial lowered Datadog from a “buy” rating to a “hold” rating and dropped their price target for the company from $170.00 to $150.00 in a research note on Tuesday, January 7th. TD Cowen reissued a “buy” rating and set a $165.00 price target on shares of Datadog in a research note on Tuesday, November 19th. Finally, Citigroup increased their price target on Datadog from $157.00 to $170.00 and gave the company a “buy” rating in a research note on Friday, January 17th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, twenty-six have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Datadog currently has a consensus rating of “Moderate Buy” and a consensus target price of $158.45.

Insider Buying and Selling at Datadog

In other news, Director Shardul Shah sold 7,916 shares of the business’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $155.25, for a total value of $1,228,959.00. Following the completion of the transaction, the director now owns 435,701 shares of the company’s stock, valued at $67,642,580.25. The trade was a 1.78 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Olivier Pomel sold 178,723 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at approximately $61,236,887.04. This trade represents a 32.01 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 642,679 shares of company stock worth $92,155,421. 11.78% of the stock is currently owned by insiders.

Datadog Stock Performance

Datadog stock opened at $140.99 on Friday. The business’s 50-day simple moving average is $147.36 and its two-hundred day simple moving average is $128.88. The company has a market cap of $47.90 billion, a PE ratio of 266.02, a PEG ratio of 16.28 and a beta of 1.14. Datadog, Inc. has a fifty-two week low of $98.80 and a fifty-two week high of $170.08.

About Datadog

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.