Columbia Asset Management Sells 850 Shares of Datadog, Inc. (NASDAQ:DDOG)

Columbia Asset Management reduced its stake in Datadog, Inc. (NASDAQ:DDOG) by 27.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,240 shares of the company’s stock after selling 850 shares during the period. Columbia Asset Management’s holdings in Datadog were worth $222,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Putney Financial Group LLC bought a new position in shares of Datadog during the fourth quarter valued at approximately $32,000. Elequin Capital LP purchased a new position in shares of Datadog in the fourth quarter worth $34,000. Coppell Advisory Solutions LLC raised its holdings in shares of Datadog by 178.8% in the fourth quarter. Coppell Advisory Solutions LLC now owns 276 shares of the company’s stock worth $40,000 after buying an additional 177 shares during the last quarter. Summit Securities Group LLC purchased a new position in shares of Datadog in the fourth quarter worth $43,000. Finally, Itau Unibanco Holding S.A. raised its holdings in shares of Datadog by 417.7% in the fourth quarter. Itau Unibanco Holding S.A. now owns 321 shares of the company’s stock worth $46,000 after buying an additional 259 shares during the last quarter. 78.29% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CEO Olivier Pomel sold 107,365 shares of Datadog stock in a transaction on Friday, March 7th. The shares were sold at an average price of $109.56, for a total transaction of $11,762,909.40. Following the completion of the sale, the chief executive officer now directly owns 435,793 shares of the company’s stock, valued at approximately $47,745,481.08. The trade was a 19.77% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CRO Sean Michael Walters sold 8,454 shares of the firm’s stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $102.04, for a total value of $862,646.16. Following the completion of the sale, the executive now owns 185,871 shares in the company, valued at approximately $18,966,276.84. This represents a 4.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 685,288 shares of company stock valued at $72,371,258. Company insiders own 8.70% of the company’s stock.

Datadog Price Performance

NASDAQ:DDOG opened at $119.70 on Thursday. The firm has a market capitalization of $41.34 billion, a price-to-earnings ratio of 234.71, a PEG ratio of 44.03 and a beta of 1.12. The company’s 50-day moving average is $104.27 and its two-hundred day moving average is $124.64. Datadog, Inc. has a 1-year low of $81.63 and a 1-year high of $170.08.

Datadog (NASDAQ:DDOG) last posted its earnings results on Tuesday, May 6th. The company reported $0.46 earnings per share for the quarter, beating the consensus estimate of $0.42 by $0.04. The company had revenue of $761.55 million for the quarter, compared to analyst estimates of $741.73 million. Datadog had a net margin of 6.85% and a return on equity of 8.28%. Datadog’s revenue was up 24.6% on a year-over-year basis. During the same period in the previous year, the business posted $0.44 EPS. As a group, equities analysts anticipate that Datadog, Inc. will post 0.34 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts recently issued reports on DDOG shares. Wells Fargo & Company reduced their target price on shares of Datadog from $140.00 to $115.00 and set an “equal weight” rating for the company in a report on Wednesday, May 7th. Canaccord Genuity Group dropped their target price on shares of Datadog from $150.00 to $145.00 and set a “buy” rating on the stock in a research report on Wednesday, May 7th. Scotiabank set a $130.00 target price on shares of Datadog and gave the company an “outperform” rating in a research report on Wednesday, May 7th. DA Davidson lifted their target price on shares of Datadog from $115.00 to $125.00 and gave the company a “buy” rating in a research report on Monday, May 5th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $134.00 target price on shares of Datadog in a research report on Wednesday, May 7th. Seven investment analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $141.04.

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.