SlateStone Wealth LLC Sells 552 Shares of Datadog, Inc. (NASDAQ:DDOG)

SlateStone Wealth LLC reduced its position in Datadog, Inc. (NASDAQ:DDOG) by 2.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,639 shares of the company’s stock after selling 552 shares during the quarter. SlateStone Wealth LLC’s holdings in Datadog were worth $2,936,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Norges Bank bought a new position in Datadog in the fourth quarter worth about $384,986,000. Kodai Capital Management LP bought a new position in Datadog in the first quarter worth about $116,054,000. 1832 Asset Management L.P. raised its holdings in Datadog by 47.9% in the fourth quarter. 1832 Asset Management L.P. now owns 2,619,500 shares of the company’s stock worth $317,955,000 after purchasing an additional 848,000 shares in the last quarter. DNB Asset Management AS raised its holdings in Datadog by 1,974.5% in the second quarter. DNB Asset Management AS now owns 847,600 shares of the company’s stock worth $109,925,000 after purchasing an additional 806,741 shares in the last quarter. Finally, Vanguard Group Inc. raised its holdings in Datadog by 2.8% in the fourth quarter. Vanguard Group Inc. now owns 27,259,414 shares of the company’s stock worth $3,308,748,000 after purchasing an additional 734,539 shares in the last quarter. 78.29% of the stock is currently owned by institutional investors.

Datadog Price Performance

Shares of Datadog stock traded down $0.49 during trading on Monday, reaching $116.74. The company’s stock had a trading volume of 1,380,210 shares, compared to its average volume of 4,013,463. The business has a 50 day moving average price of $119.84 and a 200-day moving average price of $122.02. Datadog, Inc. has a 12-month low of $77.81 and a 12-month high of $138.61. The company has a market capitalization of $39.05 billion, a P/E ratio of 364.81, a price-to-earnings-growth ratio of 37.24 and a beta of 1.11. The company has a quick ratio of 3.43, a current ratio of 3.43 and a debt-to-equity ratio of 0.34.

Datadog (NASDAQ:DDOG) last issued its earnings results on Thursday, August 8th. The company reported $0.43 EPS for the quarter, topping the consensus estimate of $0.37 by $0.06. The company had revenue of $645.28 million for the quarter, compared to analyst estimates of $624.92 million. Datadog had a net margin of 5.11% and a return on equity of 7.48%. The business’s revenue was up 26.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.36 EPS. As a group, sell-side analysts anticipate that Datadog, Inc. will post 0.32 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts have issued reports on DDOG shares. Needham & Company LLC cut their price target on shares of Datadog from $165.00 to $140.00 and set a “buy” rating on the stock in a research note on Friday, August 9th. JMP Securities upgraded shares of Datadog to a “hold” rating in a research note on Wednesday, May 8th. Wedbush restated an “outperform” rating and set a $155.00 price target on shares of Datadog in a research note on Friday, August 9th. BMO Capital Markets cut their price target on shares of Datadog from $140.00 to $132.00 and set an “outperform” rating on the stock in a research note on Friday, August 9th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $150.00 price target on shares of Datadog in a research note on Monday, July 22nd. Four investment analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $139.88.

Insider Buying and Selling at Datadog

In other Datadog news, CEO Olivier Pomel sold 85,637 shares of the business’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $104.21, for a total transaction of $8,924,231.77. Following the sale, the chief executive officer now directly owns 405,314 shares in the company, valued at $42,237,771.94. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, CTO Alexis Le-Quoc sold 127,105 shares of Datadog stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $111.66, for a total transaction of $14,192,544.30. Following the completion of the transaction, the chief technology officer now directly owns 347,684 shares in the company, valued at approximately $38,822,395.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Olivier Pomel sold 85,637 shares of the stock in a transaction on Monday, August 5th. The shares were sold at an average price of $104.21, for a total value of $8,924,231.77. Following the sale, the chief executive officer now owns 405,314 shares in the company, valued at approximately $42,237,771.94. The disclosure for this sale can be found here. Over the last three months, insiders sold 857,006 shares of company stock valued at $101,040,823. Corporate insiders own 11.78% of the company’s stock.

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.