CNB Bank Sells 172 Shares of Datadog, Inc. (NASDAQ:DDOG)

CNB Bank decreased its position in shares of Datadog, Inc. (NASDAQ:DDOG) by 4.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,393 shares of the company’s stock after selling 172 shares during the quarter. CNB Bank’s holdings in Datadog were worth $485,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. True Wealth Design LLC raised its holdings in shares of Datadog by 12,000.0% in the 3rd quarter. True Wealth Design LLC now owns 242 shares of the company’s stock valued at $28,000 after purchasing an additional 240 shares in the last quarter. Meeder Asset Management Inc. increased 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 buying an additional 115 shares during the period. Quarry LP bought a new stake in Datadog during the 3rd quarter valued at $33,000. American National Bank & Trust purchased a new position in Datadog in the third quarter worth $39,000. Finally, Kieckhefer Group LLC acquired a new stake in shares of Datadog during the fourth quarter worth about $43,000. Hedge funds and other institutional investors own 78.29% of the company’s stock.

Insider Transactions at Datadog

In other Datadog news, Director Shardul Shah sold 7,916 shares of the firm’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 completion of the sale, the director now owns 435,701 shares in the company, valued at approximately $67,642,580.25. This trade represents a 1.78 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Matthew Jacobson sold 3,393 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $125.03, for a total transaction of $424,226.79. Following the transaction, the director now owns 695,086 shares in the company, valued at $86,906,602.58. The trade was a 0.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 609,763 shares of company stock valued at $87,543,649. Corporate insiders own 11.78% of the company’s stock.

Datadog Price Performance

Datadog stock opened at $139.78 on Friday. Datadog, Inc. has a fifty-two week low of $98.80 and a fifty-two week high of $170.08. The firm has a market cap of $47.49 billion, a price-to-earnings ratio of 262.65, a P/E/G ratio of 16.31 and a beta of 1.14. The firm has a fifty day moving average price of $145.61 and a two-hundred day moving average price of $128.51.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. Cantor Fitzgerald started coverage on shares of Datadog in a research report on Friday. They set an “overweight” rating and a $180.00 price target for the company. Truist Financial cut shares of Datadog from a “buy” rating to a “hold” rating and reduced their target price for the stock from $170.00 to $150.00 in a report on Tuesday, January 7th. Mizuho upped their price target on shares of Datadog from $155.00 to $170.00 and gave the company an “outperform” rating in a report on Friday, December 13th. Royal Bank of Canada lifted their price objective on Datadog from $151.00 to $170.00 and gave the company an “outperform” rating in a research note on Friday, January 3rd. Finally, Macquarie assumed coverage on Datadog in a research note on Thursday, December 12th. They issued an “outperform” rating and a $200.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-six have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $158.00.

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.