SlateStone Wealth LLC Lowers Stock Holdings in Datadog, Inc. (NASDAQ:DDOG)

SlateStone Wealth LLC reduced its holdings in shares of Datadog, Inc. (NASDAQ:DDOG - Free Report) by 13.0% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor 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 filing with the SEC.

Several other institutional investors and hedge funds have also made changes to their positions in DDOG. True Wealth Design LLC lifted its position in shares of Datadog by 12,000.0% during the 3rd quarter. True Wealth Design LLC now owns 242 shares of the company's stock worth $28,000 after buying an additional 240 shares during the last quarter. Retirement Wealth Solutions LLC purchased a new stake in Datadog in the fourth quarter valued at $30,000. Avior Wealth Management LLC boosted its stake in Datadog by 55.9% in the fourth quarter. Avior Wealth Management LLC now owns 226 shares of the company's stock valued at $32,000 after acquiring an additional 81 shares in the last quarter. Meeder Asset Management Inc. grew its holdings in shares of Datadog by 66.5% during the third quarter. Meeder Asset Management Inc. now owns 288 shares of the company's stock worth $33,000 after purchasing an additional 115 shares during the last quarter. Finally, Quarry LP purchased a new position in shares of Datadog during the third quarter worth about $33,000. 78.29% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Morgan Stanley reissued an "equal weight" rating and issued a $143.00 target price on shares of Datadog in a research report on Thursday, January 16th. Jefferies Financial Group increased their price objective on Datadog from $155.00 to $170.00 and gave the company a "buy" rating in a report on Monday, January 6th. Mizuho lifted their target price on shares of Datadog from $155.00 to $170.00 and gave the company an "outperform" rating in a report on Friday, December 13th. DA Davidson increased their price target on shares of Datadog from $150.00 to $165.00 and gave the stock a "buy" rating in a research note on Monday, February 10th. Finally, Wells Fargo & Company lowered shares of Datadog from an "overweight" rating to an "equal weight" rating and dropped their price objective for the company from $152.00 to $140.00 in a research note on Thursday, February 13th. One analyst has rated the stock with a sell rating, seven have given a hold rating, twenty-one have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $158.70.

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Datadog Stock Performance

DDOG stock traded up $1.15 during midday trading on Wednesday, hitting $104.08. 711,735 shares of the stock were exchanged, compared to its average volume of 4,053,398. The stock's 50-day moving average price is $129.20 and its 200-day moving average price is $131.18. The stock has a market cap of $35.67 billion, a price-to-earnings ratio of 204.08, a PEG ratio of 44.03 and a beta of 1.22. Datadog, Inc. has a fifty-two week low of $98.30 and a fifty-two week high of $170.08.

Datadog (NASDAQ:DDOG - Get Free Report) last released its quarterly earnings results 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%. Research analysts anticipate that Datadog, Inc. will post 0.34 EPS for the current year.

Insider Buying and Selling at Datadog

In related news, CTO Alexis Le-Quoc sold 127,105 shares of the company's stock in a transaction that occurred on Wednesday, January 8th. The stock was sold at an average price of $141.21, for a total value of $17,948,497.05. Following the sale, the chief technology officer now owns 324,778 shares of the company's stock, valued at approximately $45,861,901.38. This represents a 28.13 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Amit Agarwal sold 25,000 shares of the firm's stock in a transaction on Wednesday, January 8th. The stock was sold at an average price of $141.12, for a total value of $3,528,000.00. Following the transaction, the director now directly owns 195,667 shares of the company's stock, valued at $27,612,527.04. The trade was a 11.33 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 626,412 shares of company stock valued at $79,144,334 over the last quarter. Corporate insiders own 11.78% of the company's stock.

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.