Datadog, Inc. (NASDAQ:DDOG) Shares Sold by SlateStone Wealth LLC

SlateStone Wealth LLC decreased its position in shares of Datadog, Inc. (NASDAQ:DDOG) by 13.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 18,038 shares of the company’s stock after selling 2,685 shares during the quarter. SlateStone Wealth LLC’s holdings in Datadog were worth $2,577,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Corient Private Wealth LLC grew its stake in shares of Datadog by 0.9% during the 4th quarter. Corient Private Wealth LLC now owns 13,118 shares of the company’s stock worth $1,874,000 after purchasing an additional 115 shares during the period. Envestnet Portfolio Solutions Inc. grew its stake in Datadog by 35.9% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 23,868 shares of the company’s stock valued at $3,410,000 after acquiring an additional 6,310 shares during the period. Natixis Advisors LLC grew its stake in Datadog by 12.3% in the 4th quarter. Natixis Advisors LLC now owns 82,993 shares of the company’s stock valued at $11,859,000 after acquiring an additional 9,097 shares during the period. Zevin Asset Management LLC acquired a new stake in Datadog in the 4th quarter valued at $9,748,000. Finally, Midwest Professional Planners LTD. boosted its stake in Datadog by 7.8% during the 4th quarter. Midwest Professional Planners LTD. now owns 3,475 shares of the company’s stock worth $497,000 after purchasing an additional 250 shares during the last quarter. Institutional investors and hedge funds own 78.29% of the company’s stock.

Datadog Price Performance

NASDAQ DDOG opened at $101.80 on Friday. The company has a market cap of $34.89 billion, a P/E ratio of 199.61, a P/E/G ratio of 44.03 and a beta of 1.22. The stock has a 50-day moving average of $130.81 and a two-hundred day moving average of $131.22. Datadog, Inc. has a 1-year low of $98.30 and a 1-year high of $170.08.

Datadog (NASDAQ:DDOG) last released its earnings results on Thursday, February 13th. The company reported $0.13 earnings per share for the quarter, missing the consensus estimate of $0.44 by ($0.31). Datadog had a net margin of 6.85% and a return on equity of 8.28%. On average, analysts anticipate that Datadog, Inc. will post 0.34 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on DDOG shares. Stifel Nicolaus cut shares of Datadog from a “buy” rating to a “hold” rating and lowered their target price for the stock from $165.00 to $140.00 in a research note on Wednesday, January 29th. Barclays lowered their target price on shares of Datadog from $187.00 to $180.00 and set an “overweight” rating on the stock in a research note on Friday, February 14th. Truist Financial lowered their target price on shares of Datadog from $150.00 to $140.00 and set a “hold” rating on the stock in a research note on Friday, February 14th. Citigroup lowered their target price on shares of Datadog from $170.00 to $165.00 and set a “buy” rating on the stock in a research note on Friday, February 14th. Finally, Morgan Stanley reaffirmed an “equal weight” rating and set a $143.00 target price on shares of Datadog in a research note on Thursday, January 16th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, twenty-one have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $158.70.

Insider Transactions at Datadog

In related news, CEO Olivier Pomel sold 19,226 shares of the company’s stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $153.73, for a total value of $2,955,612.98. Following the completion of the transaction, the chief executive officer now directly owns 379,693 shares of the company’s stock, valued at $58,370,204.89. This represents a 4.82 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CTO Alexis Le-Quoc sold 127,105 shares of the company’s stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $102.15, for a total value of $12,983,775.75. Following the completion of the transaction, the chief technology officer now directly owns 371,865 shares of the company’s stock, valued at $37,986,009.75. This trade represents a 25.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 653,554 shares of company stock valued at $83,328,905. 11.78% of the stock is currently owned by corporate insiders.

Datadog 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.