SlateStone Wealth LLC Sells 1,475 Shares of Datadog, Inc. (NASDAQ:DDOG)

SlateStone Wealth LLC cut its position in Datadog, Inc. (NASDAQ:DDOG) by 5.7% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 24,301 shares of the company’s stock after selling 1,475 shares during the quarter. SlateStone Wealth LLC’s holdings in Datadog were worth $2,950,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. Anchor Investment Management LLC acquired a new position in Datadog during the fourth quarter worth $25,000. BluePath Capital Management LLC bought a new position in Datadog during the third quarter worth about $31,000. Private Trust Co. NA boosted its position in Datadog by 743.3% during the fourth quarter. Private Trust Co. NA now owns 253 shares of the company’s stock worth $31,000 after purchasing an additional 223 shares during the period. AM Squared Ltd bought a new position in shares of Datadog in the third quarter valued at approximately $36,000. Finally, Headinvest LLC bought a new position in shares of Datadog in the third quarter valued at approximately $46,000. 78.29% of the stock is currently owned by institutional investors and hedge funds.

Datadog Trading Up 2.9 %

Shares of NASDAQ DDOG traded up $3.70 during midday trading on Wednesday, reaching $130.14. 388,071 shares of the stock were exchanged, compared to its average volume of 4,012,103. The company has a market capitalization of $43.19 billion, a P/E ratio of 1,053.67 and a beta of 1.15. Datadog, Inc. has a 52-week low of $62.60 and a 52-week high of $138.61. The company has a current ratio of 3.17, a quick ratio of 3.17 and a debt-to-equity ratio of 0.37. The stock has a 50 day moving average price of $125.53 and a 200-day moving average price of $116.60.

Datadog (NASDAQ:DDOG) last issued its quarterly earnings results on Tuesday, February 13th. The company reported $0.44 EPS for the quarter, topping analysts’ consensus estimates of $0.43 by $0.01. Datadog had a net margin of 2.28% and a return on equity of 3.79%. The business had revenue of $589.65 million during the quarter, compared to the consensus estimate of $568.73 million. During the same period in the previous year, the firm posted ($0.08) earnings per share. The company’s quarterly revenue was up 25.6% compared to the same quarter last year. Equities research analysts expect that Datadog, Inc. will post -0.14 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

DDOG has been the topic of several research reports. Stifel Nicolaus reissued a “buy” rating and set a $152.00 price target on shares of Datadog in a research note on Monday. BMO Capital Markets reiterated an “outperform” rating and issued a $155.00 price target (up previously from $140.00) on shares of Datadog in a research note on Wednesday, February 14th. Citigroup upped their price target on shares of Datadog from $125.00 to $150.00 and gave the stock a “buy” rating in a research note on Monday, January 22nd. Canaccord Genuity Group reaffirmed a “buy” rating and set a $150.00 price target on shares of Datadog in a research report on Friday, February 23rd. Finally, Robert W. Baird increased their target price on shares of Datadog from $120.00 to $130.00 and gave the stock a “neutral” rating in a report on Wednesday, February 14th. Five analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $131.70.

Insider Buying and Selling

In other Datadog news, CFO David M. Obstler sold 15,000 shares of Datadog stock in a transaction that occurred on Thursday, April 11th. The shares were sold at an average price of $130.28, for a total transaction of $1,954,200.00. Following the transaction, the chief financial officer now directly owns 275,191 shares of the company’s stock, valued at $35,851,883.48. The sale was disclosed in a filing with the SEC, which is available at this link. In other news, COO Adam Blitzer sold 20,892 shares of the business’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $128.58, for a total transaction of $2,686,293.36. Following the transaction, the chief operating officer now directly owns 203,503 shares of the company’s stock, valued at $26,166,415.74. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO David M. Obstler sold 15,000 shares of the business’s stock in a transaction on Thursday, April 11th. The stock was sold at an average price of $130.28, for a total transaction of $1,954,200.00. Following the transaction, the chief financial officer now directly owns 275,191 shares in the company, valued at $35,851,883.48. The disclosure for this sale can be found here. Over the last three months, insiders have sold 735,984 shares of company stock valued at $94,617,681. Insiders own 14.97% of the company’s stock.

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.