SlateStone Wealth LLC Cuts Stock Position in Datadog, Inc. (NASDAQ:DDOG)

SlateStone Wealth LLC lessened its stake in shares of Datadog, Inc. (NASDAQ:DDOG) by 13.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund 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 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. True Wealth Design LLC raised its position in Datadog by 12,000.0% in the third quarter. True Wealth Design LLC now owns 242 shares of the company’s stock worth $28,000 after acquiring an additional 240 shares in the last quarter. Retirement Wealth Solutions LLC purchased a new position in Datadog in the fourth quarter worth $30,000. Avior Wealth Management LLC raised its position in Datadog by 55.9% in the fourth quarter. Avior Wealth Management LLC now owns 226 shares of the company’s stock worth $32,000 after acquiring an additional 81 shares in the last quarter. Meeder Asset Management Inc. raised its position in Datadog by 66.5% in the third quarter. Meeder Asset Management Inc. now owns 288 shares of the company’s stock worth $33,000 after acquiring an additional 115 shares in the last quarter. Finally, Quarry LP purchased a new position in Datadog in the third quarter worth $33,000. Hedge funds and other institutional investors own 78.29% of the company’s stock.

Insiders Place Their Bets

In other Datadog news, CTO Alexis Le-Quoc sold 127,105 shares of Datadog stock in a transaction that occurred on Wednesday, January 8th. The stock was sold at an average price of $141.21, for a total transaction of $17,948,497.05. Following the sale, the chief technology officer now directly owns 324,778 shares in the company, valued at $45,861,901.38. The trade was a 28.13 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Shardul Shah sold 7,916 shares of Datadog stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $155.25, for a total value of $1,228,959.00. Following the sale, the director now owns 435,701 shares in the company, valued at $67,642,580.25. This represents a 1.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 653,554 shares of company stock worth $83,328,905 in the last three months. 11.78% of the stock is owned by insiders.

Datadog Stock Up 3.2 %

DDOG stock opened at $101.80 on Friday. Datadog, Inc. has a 52-week low of $98.30 and a 52-week high of $170.08. The stock’s 50 day moving average is $130.81 and its two-hundred day moving average is $131.22. The company has a market capitalization of $34.89 billion, a PE ratio of 199.61, a P/E/G ratio of 44.03 and a beta of 1.22.

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

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. DA Davidson increased their price objective on Datadog from $150.00 to $165.00 and gave the stock a “buy” rating in a research report on Monday, February 10th. Wolfe Research lowered Datadog from an “outperform” rating to a “peer perform” rating in a report on Tuesday, February 18th. Morgan Stanley reissued an “equal weight” rating and issued a $143.00 target price on shares of Datadog in a report on Thursday, January 16th. Royal Bank of Canada upped their target price on Datadog from $151.00 to $170.00 and gave the company an “outperform” rating in a report on Friday, January 3rd. Finally, Loop Capital upped their target price on Datadog from $160.00 to $200.00 and gave the company a “buy” rating in a report on Monday, December 23rd. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, twenty-one have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $158.70.

Datadog Company 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.