Stonegate Investment Group LLC Sells 14,125 Shares of Datadog, Inc. (NASDAQ:DDOG)

Stonegate Investment Group LLC lowered its position in Datadog, Inc. (NASDAQ:DDOG - Free Report) by 46.4% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 16,323 shares of the company's stock after selling 14,125 shares during the quarter. Stonegate Investment Group LLC's holdings in Datadog were worth $1,878,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Congress Asset Management Co. MA bought a new position in shares of Datadog in the first quarter worth $1,083,000. Vanguard Group Inc. lifted its holdings in Datadog by 0.6% during the 1st quarter. Vanguard Group Inc. now owns 27,431,107 shares of the company's stock worth $3,390,485,000 after purchasing an additional 171,693 shares in the last quarter. Bank of Montreal Can boosted its stake in Datadog by 129.2% in the 2nd quarter. Bank of Montreal Can now owns 610,977 shares of the company's stock worth $79,384,000 after purchasing an additional 344,431 shares during the period. Plato Investment Management Ltd grew its holdings in Datadog by 1,648.8% during the 1st quarter. Plato Investment Management Ltd now owns 5,159 shares of the company's stock valued at $638,000 after buying an additional 4,864 shares in the last quarter. Finally, Clearbridge Investments LLC increased its position in shares of Datadog by 5.2% during the second quarter. Clearbridge Investments LLC now owns 259,107 shares of the company's stock valued at $33,604,000 after buying an additional 12,785 shares during the period. 78.29% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

DDOG has been the subject of a number of analyst reports. Royal Bank of Canada restated an "outperform" rating and issued a $151.00 price objective on shares of Datadog in a research report on Friday, August 9th. DA Davidson upgraded shares of Datadog from a "neutral" rating to a "buy" rating and boosted their price target for the company from $115.00 to $140.00 in a research report on Tuesday, October 1st. Needham & Company LLC decreased their price target on shares of Datadog from $165.00 to $140.00 and set a "buy" rating on the stock in a report on Friday, August 9th. BMO Capital Markets dropped their price objective on Datadog from $140.00 to $132.00 and set an "outperform" rating for the company in a research note on Friday, August 9th. Finally, Barclays decreased their target price on Datadog from $145.00 to $140.00 and set an "overweight" rating on the stock in a research note on Friday, August 9th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-five have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $142.11.

Datadog Stock Up 1.5 %

Shares of NASDAQ:DDOG traded up $1.90 during midday trading on Friday, hitting $128.12. 3,575,088 shares of the stock traded hands, compared to its average volume of 3,803,647. The stock has a market capitalization of $42.86 billion, a PE ratio of 400.38, a P/E/G ratio of 22.85 and a beta of 1.11. Datadog, Inc. has a one year low of $77.81 and a one year high of $138.61. The business's 50 day moving average is $116.58 and its two-hundred day moving average is $119.45.

Datadog (NASDAQ:DDOG - Get Free Report) last released its quarterly earnings data on Thursday, August 8th. The company reported $0.43 earnings per share for the quarter, topping the consensus estimate of $0.37 by $0.06. Datadog had a return on equity of 9.01% and a net margin of 6.81%. The business had revenue of $645.28 million during the quarter, compared to analysts' expectations of $624.92 million. During the same quarter last year, the business posted $0.36 EPS. The business's revenue was up 26.7% on a year-over-year basis. As a group, sell-side analysts forecast that Datadog, Inc. will post 0.42 earnings per share for the current year.

Insiders Place Their Bets

In other Datadog news, CEO Olivier Pomel sold 85,637 shares of the firm's stock in a transaction dated 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 completion of the sale, the chief executive officer now directly owns 405,314 shares in the company, valued at $42,237,771.94. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. In other news, Director Matthew Jacobson sold 9,256 shares of the business's stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $108.05, for a total transaction of $1,000,110.80. Following the sale, the director now owns 48,411 shares in the company, valued at approximately $5,230,808.55. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Olivier Pomel sold 85,637 shares of the stock in a transaction dated 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 completion of the transaction, the chief executive officer now owns 405,314 shares of the company's stock, valued at approximately $42,237,771.94. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 529,928 shares of company stock worth $63,079,091. 11.78% of the stock is currently owned by corporate insiders.

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.