Polymer Capital Management HK LTD Sells 1,070 Shares of Datadog, Inc. (NASDAQ:DDOG)

Polymer Capital Management HK LTD lessened its holdings in Datadog, Inc. (NASDAQ:DDOG) by 24.3% during the third quarter, Holdings Channel reports. The fund owned 3,330 shares of the company’s stock after selling 1,070 shares during the period. Polymer Capital Management HK LTD’s holdings in Datadog were worth $383,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the business. Baader Bank Aktiengesellschaft grew its holdings in Datadog by 1.5% in the 2nd quarter. Baader Bank Aktiengesellschaft now owns 5,077 shares of the company’s stock valued at $657,000 after buying an additional 77 shares in the last quarter. Pathstone Holdings LLC grew its holdings in Datadog by 0.4% in the 3rd quarter. Pathstone Holdings LLC now owns 23,152 shares of the company’s stock valued at $2,664,000 after buying an additional 91 shares in the last quarter. GAMMA Investing LLC grew its holdings in Datadog by 19.5% in the 3rd quarter. GAMMA Investing LLC now owns 563 shares of the company’s stock valued at $65,000 after buying an additional 92 shares in the last quarter. HB Wealth Management LLC grew its holdings in Datadog by 5.2% in the 2nd quarter. HB Wealth Management LLC now owns 1,926 shares of the company’s stock valued at $250,000 after buying an additional 95 shares in the last quarter. Finally, WR Wealth Planners LLC grew its holdings in Datadog by 31.6% in the 2nd quarter. WR Wealth Planners LLC now owns 433 shares of the company’s stock valued at $56,000 after buying an additional 104 shares in the last quarter. Institutional investors own 78.29% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on DDOG. Citigroup upped their price objective on Datadog from $150.00 to $157.00 and gave the company a “buy” rating in a report on Friday, November 8th. Robert W. Baird upped their price objective on Datadog from $140.00 to $150.00 and gave the company an “outperform” rating in a report on Friday, November 8th. Wedbush raised Datadog from a “buy” rating to a “strong-buy” rating in a report on Thursday, October 17th. BMO Capital Markets increased their target price on Datadog from $135.00 to $145.00 and gave the stock an “outperform” rating in a report on Friday, November 8th. Finally, UBS Group reissued an “underperform” rating on shares of Datadog in a report on Friday, October 18th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, twenty-five have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $150.96.

Datadog Price Performance

Shares of DDOG opened at $165.88 on Thursday. Datadog, Inc. has a 1 year low of $98.80 and a 1 year high of $166.08. The company has a market capitalization of $56.35 billion, a price-to-earnings ratio of 312.98, a price-to-earnings-growth ratio of 20.01 and a beta of 1.11. The business has a 50-day moving average of $130.72 and a 200-day moving average of $122.09.

Insider Transactions at Datadog

In related news, CEO Olivier Pomel sold 85,637 shares of the firm’s 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 sale, the chief executive officer now owns 392,111 shares of the company’s stock, valued at $48,076,729.71. This trade represents a 17.93 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Shardul Shah sold 15,832 shares of the firm’s stock in a transaction that occurred on Friday, October 4th. The stock was sold at an average price of $120.02, for a total value of $1,900,156.64. Following the sale, the director now directly owns 459,449 shares of the company’s stock, valued at $55,143,068.98. This represents a 3.33 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 541,491 shares of company stock worth $68,927,496 over the last ninety days. 11.78% of the stock is owned by 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.