Central Pacific Bank Trust Division Cuts Stock Holdings in Datadog, Inc. (NASDAQ:DDOG)

Central Pacific Bank Trust Division reduced its position in Datadog, Inc. (NASDAQ:DDOG) by 10.0% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 7,664 shares of the company’s stock after selling 854 shares during the period. Central Pacific Bank Trust Division’s holdings in Datadog were worth $1,095,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Farther Finance Advisors LLC lifted its holdings in shares of Datadog by 399.5% during the second quarter. Farther Finance Advisors LLC now owns 1,993 shares of the company’s stock valued at $260,000 after purchasing an additional 1,594 shares in the last quarter. Natixis Advisors LLC raised its position in Datadog by 5.1% in the 2nd quarter. Natixis Advisors LLC now owns 80,699 shares of the company’s stock worth $10,466,000 after buying an additional 3,895 shares during the last quarter. First National Trust Co lifted its stake in Datadog by 11.2% during the 2nd quarter. First National Trust Co now owns 2,722 shares of the company’s stock valued at $353,000 after acquiring an additional 275 shares during the period. Foundations Investment Advisors LLC boosted its holdings in shares of Datadog by 14.9% during the 2nd quarter. Foundations Investment Advisors LLC now owns 4,709 shares of the company’s stock valued at $611,000 after acquiring an additional 609 shares during the last quarter. Finally, SouthState Corp bought a new stake in shares of Datadog in the second quarter worth approximately $26,000. 78.29% of the stock is owned by institutional investors.

Insider Buying and Selling at Datadog

In other news, CEO Olivier Pomel sold 85,637 shares of the stock in a transaction that occurred on Monday, October 7th. The stock was sold at an average price of $122.61, for a total transaction of $10,499,952.57. Following the completion of the transaction, the chief executive officer now directly owns 392,111 shares in the company, valued at approximately $48,076,729.71. This represents a 17.93 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President Amit Agarwal sold 150,000 shares of the firm’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $126.03, for a total transaction of $18,904,500.00. Following the completion of the transaction, the president now directly owns 214,275 shares of the company’s stock, valued at approximately $27,005,078.25. This trade represents a 41.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 747,304 shares of company stock valued at $102,834,812 in the last 90 days. Insiders own 11.78% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Monness Crespi & Hardt upgraded shares of Datadog from a “neutral” rating to a “buy” rating and set a $155.00 price objective on the stock in a research report on Thursday, November 7th. Mizuho increased 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. UBS Group reaffirmed an “underperform” rating on shares of Datadog in a report on Friday, October 18th. DA Davidson increased their target price on Datadog from $140.00 to $150.00 and gave the company a “buy” rating in a report on Friday, November 8th. Finally, Robert W. Baird boosted their price target on Datadog from $140.00 to $150.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. One research analyst has rated the stock with a sell rating, one has given a hold rating, twenty-six have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Datadog presently has a consensus rating of “Moderate Buy” and an average target price of $157.74.

Datadog Stock Performance

Shares of NASDAQ:DDOG opened at $144.83 on Friday. The firm has a market cap of $49.20 billion, a price-to-earnings ratio of 273.27, a P/E/G ratio of 20.27 and a beta of 1.11. The firm has a fifty day moving average price of $142.87 and a 200 day moving average price of $127.12. 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.