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

SlateStone Wealth LLC cut its position in Datadog, Inc. (NASDAQ:DDOG) by 7.1% during the 1st quarter, HoldingsChannel.com reports. The firm owned 16,759 shares of the company’s stock after selling 1,279 shares during the quarter. SlateStone Wealth LLC’s holdings in Datadog were worth $1,663,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. OVERSEA CHINESE BANKING Corp Ltd increased its holdings in shares of Datadog by 887.0% in the 1st quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 25,199 shares of the company’s stock worth $25,000 after buying an additional 22,646 shares during the last quarter. Cornerstone Planning Group LLC grew its holdings in Datadog by 96.9% in the 1st quarter. Cornerstone Planning Group LLC now owns 313 shares of the company’s stock worth $30,000 after acquiring an additional 154 shares during the last quarter. Putney Financial Group LLC bought a new stake in Datadog in the 4th quarter worth $32,000. Elequin Capital LP bought a new stake in Datadog in the 4th quarter worth $34,000. Finally, Opal Wealth Advisors LLC bought a new stake in shares of Datadog during the 1st quarter valued at about $37,000. 78.29% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Shardul Shah sold 7,924 shares of the stock in a transaction on Tuesday, July 15th. The shares were sold at an average price of $140.80, for a total value of $1,115,699.20. Following the sale, the director owned 380,281 shares of the company’s stock, valued at approximately $53,543,564.80. This represents a 2.04% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CRO Sean Michael Walters sold 9,469 shares of the stock in a transaction on Thursday, July 3rd. The shares were sold at an average price of $150.00, for a total transaction of $1,420,350.00. Following the completion of the sale, the executive directly owned 212,324 shares in the company, valued at approximately $31,848,600. This represents a 4.27% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 957,666 shares of company stock valued at $117,576,223. 8.70% of the stock is currently owned by company insiders.

Analyst Ratings Changes

DDOG has been the topic of a number of research reports. Barclays lifted their target price on shares of Datadog from $128.00 to $170.00 and gave the company an “overweight” rating in a research note on Monday, July 21st. BTIG Research set a $136.00 target price on shares of Datadog and gave the company a “buy” rating in a research note on Tuesday, May 6th. Mizuho lifted their target price on shares of Datadog from $125.00 to $145.00 and gave the company an “outperform” rating in a research note on Wednesday, July 16th. Guggenheim reissued a “sell” rating and set a $105.00 price objective on shares of Datadog in a research note on Tuesday, July 8th. Finally, Stifel Nicolaus boosted their price objective on shares of Datadog from $120.00 to $135.00 and gave the stock a “hold” rating in a research note on Thursday, June 26th. One research analyst has rated the stock with a sell rating, five have given a hold rating and twenty-four have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $146.79.

Datadog Price Performance

Datadog stock opened at $150.27 on Wednesday. The company has a market cap of $51.90 billion, a price-to-earnings ratio of 326.68, a PEG ratio of 82.91 and a beta of 1.03. The firm’s fifty day moving average is $131.69 and its 200 day moving average is $120.82. The company has a quick ratio of 2.74, a current ratio of 2.74 and a debt-to-equity ratio of 0.34. Datadog, Inc. has a 52-week low of $81.63 and a 52-week high of $170.08.

Datadog (NASDAQ:DDOG) last released its quarterly earnings results on Tuesday, May 6th. The company reported $0.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.42 by $0.04. Datadog had a net margin of 5.85% and a return on equity of 6.39%. The company had revenue of $761.55 million for the quarter, compared to the consensus estimate of $741.73 million. During the same quarter in the prior year, the firm earned $0.44 earnings per share. Datadog’s revenue was up 24.6% on a year-over-year basis. Sell-side analysts forecast that Datadog, Inc. will post 0.34 EPS for the current fiscal year.

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.