Stony Point Capital LLC Lowers Position in Datadog, Inc. (NASDAQ:DDOG)

Stony Point Capital LLC lowered its holdings in Datadog, Inc. (NASDAQ:DDOG) by 4.2% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 164,505 shares of the company’s stock after selling 7,172 shares during the period. Datadog makes up about 4.3% of Stony Point Capital LLC’s portfolio, making the stock its 8th largest holding. Stony Point Capital LLC owned approximately 0.05% of Datadog worth $11,953,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently made changes to their positions in DDOG. TFC Financial Management Inc. lifted its position in Datadog by 1.9% during the first quarter. TFC Financial Management Inc. now owns 7,694 shares of the company’s stock worth $559,000 after purchasing an additional 145 shares during the period. Norinchukin Bank The boosted its position in shares of Datadog by 3.9% during the 1st quarter. Norinchukin Bank The now owns 3,923 shares of the company’s stock worth $285,000 after acquiring an additional 146 shares in the last quarter. NewEdge Wealth LLC increased its stake in Datadog by 4.1% in the first quarter. NewEdge Wealth LLC now owns 3,822 shares of the company’s stock valued at $278,000 after acquiring an additional 150 shares during the last quarter. Public Employees Retirement Association of Colorado raised its position in Datadog by 0.3% during the fourth quarter. Public Employees Retirement Association of Colorado now owns 44,217 shares of the company’s stock valued at $3,250,000 after purchasing an additional 154 shares in the last quarter. Finally, CWM LLC lifted its stake in Datadog by 4.1% during the first quarter. CWM LLC now owns 4,229 shares of the company’s stock worth $307,000 after purchasing an additional 165 shares during the last quarter. Institutional investors and hedge funds own 68.30% of the company’s stock.

Wall Street Analysts Forecast Growth

DDOG has been the subject of a number of research analyst reports. Citigroup lowered their price target on Datadog from $135.00 to $125.00 and set a “buy” rating for the company in a report on Tuesday, August 29th. Wolfe Research upgraded shares of Datadog from a “peer perform” rating to an “outperform” rating and set a $140.00 price target on the stock in a research note on Monday, July 24th. TheStreet upgraded shares of Datadog from a “d” rating to a “c-” rating in a research report on Tuesday, May 30th. Piper Sandler increased their price objective on shares of Datadog from $75.00 to $88.00 in a research note on Friday, June 9th. Finally, TD Cowen started coverage on shares of Datadog in a research note on Friday, August 18th. They set an “outperform” rating and a $120.00 target price on the stock. Six investment analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $107.45.

Datadog Trading Down 2.7 %

Datadog stock traded down $2.74 during trading hours on Tuesday, reaching $99.14. 1,471,615 shares of the company’s stock were exchanged, compared to its average volume of 4,956,885. The firm’s 50 day simple moving average is $100.83 and its 200 day simple moving average is $87.39. Datadog, Inc. has a twelve month low of $61.34 and a twelve month high of $118.02. The company has a quick ratio of 3.42, a current ratio of 3.41 and a debt-to-equity ratio of 0.45. The firm has a market capitalization of $32.22 billion, a PE ratio of -391.85, a PEG ratio of 1,652.65 and a beta of 0.98.

Datadog (NASDAQ:DDOG) last released its earnings results on Tuesday, August 8th. The company reported $0.36 EPS for the quarter, topping the consensus estimate of $0.28 by $0.08. Datadog had a negative return on equity of 4.66% and a negative net margin of 4.38%. The business had revenue of $509.46 million during the quarter, compared to analysts’ expectations of $501.55 million. During the same quarter last year, the firm posted $0.24 earnings per share. The firm’s revenue was up 25.4% on a year-over-year basis.

Insider Activity

In other news, President Amit Agarwal sold 124,000 shares of the company’s stock in a transaction dated Thursday, August 17th. The shares were sold at an average price of $90.15, for a total transaction of $11,178,600.00. Following the transaction, the president now owns 269,141 shares in the company, valued at $24,263,061.15. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, General Counsel Kerry Acocella sold 1,399 shares of Datadog stock in a transaction on Tuesday, September 5th. The shares were sold at an average price of $96.25, for a total value of $134,653.75. Following the completion of the sale, the general counsel now owns 68,499 shares of the company’s stock, valued at approximately $6,593,028.75. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, President Amit Agarwal sold 124,000 shares of the business’s stock in a transaction dated Thursday, August 17th. The stock was sold at an average price of $90.15, for a total transaction of $11,178,600.00. Following the sale, the president now directly owns 269,141 shares of the company’s stock, valued at $24,263,061.15. The disclosure for this sale can be found here. Insiders sold 1,156,530 shares of company stock worth $110,241,243 in the last quarter. 14.97% of the stock is owned by corporate insiders.

Datadog Company Profile

Datadog, Inc operates an observability and security platform for cloud applications in North America and internationally. The company's products include infrastructure and application performance monitoring, log management, digital experience monitoring, continuous profiler, database monitoring, network monitoring, incident management, observability pipelines, cloud cost management, universal service monitoring, cloud security management, application security management.